10 Tips to Buy a New Car

November 11, 2019 Budget

Buy a New Car | Payday Loans

Buying a new car is always exciting for anyone. However, often the various opinions and extensive options related to car loans, such as EMI options, instant loans etc. make buying a new car confusing. If you too feel confused about your EMI options or choosing fast loan cash to pay your car loans, then below are the ten tips that can help you ensure an easeful new car purchase.

Set Your Budget

Though there is fast loan cash for debt consolidation or bad credit, still, when purchasing a new car make sure to set a budget after considering your requirements. The last thing you want is to unable to pay for the car you buy even after going for instant cash loans. Dont go for the lucrative offers made by auto manufacturers. Rather, consider the monthly maintenance cost as well when setting your purchase budget and determine the monthly EMIs you can pay. 




Consider Your Financing Options

With a range of payment options being there, know which payment option youre comfortable with when buying a new car. With recent studies indicating almost 90% of all car sales in Australia being arranged through finance, and 61% of this finance being from other sources, theres nothing wrong with you opting for finance.

With reliable payday loans online Australia being there as an instant and the easy cash-flow solution, opting for a finance option, whether its from the dealer or a private bank is not at all difficult.

Know Your Credit Score

In Australia, every 1 out of 5 cars is bought with a car loan. Yes, statistics show that in 2017, around 234,451 cars had car loans attached with them out of the total sold 1,182,631 new cars. To be eligible for a car loan, you need a good credit score. Hence, know your credit score and consider the other loan options like payday loans in case you have a low credit score for buying a car.


Research Well

Always shop around and research well about the cars you are interested in before walking into a dealership. Buying a car on an impulse, without proper research may cause trouble with paying high EMIs later, though there are payday loans online Australia available and even develop dissatisfaction in your purchase decision later.

  Top 10 selling cars in Australia October 2019

1.     Toyota Hilux

2.     Ford Ranger

3.     Hyundai i30

4.     Toyota RAV4

5.     Toyota Corolla

6.     Toyota Landcruiser

7.     Kia Cerato

8.     Mazda CX-5

9.     Hyundai Tucson

10.  Nissan X-Trail

Compare Prices

The way you compare the interest rates of a loan or instant cash loans to find the best one, do compare the prices of the vehicles too. Enquiring about the price of a car in different dealerships as per its make, model or year of manufacturing simply helps you to negotiate the car price better.

Opt for A Test Drive

Studies show that 90% of new car buyers opt for test driving. So, be with the majority and take the time to go for a test drive to be sure that you feel comfortable in it. A test drive always helps with inspecting the car better and to be sure that there's no noticeable rattles or squeaks in it.

Know the Value of Your Trade-Ins

According to an online car dealership, almost 43% of all the car purchases in 2017 included trade-ins. If you too plan to trade-in your old vehicle when buying a new car, make sure to research its value in advance instead of relying only on the salesperson, just like you research about payday loans in Australia to secure the best deal.

Negotiate the Purchase Terms

You may not negotiate the interest rate of payday loans, but you certainly can the buying terms when purchasing a new car. Always negotiate the car loan amount, its duration and other terms associated with the purchase as good negotiation tactics and strategies can knock down the purchase price considerably.

Consider The Insurance Costs as Well

The cost of insuring your new car is a major part of its overall price. Hence, when opting for buying a new car and calculating the monthly instant loans to pay off your car EMIs, take into account the car insurance premiums as well.

Be Aware of Your Rights

Take time to understand the return policies and warranty package that come with the car. Knowing your rights as a would-be car owner and a customer will help you make important decisions like whether you need to supplement your car warranty or not etc.

Remember, buying a new car always costs more than purchasing a used one. Hence, make sure to consider your financing options like auto loans, payday loans, etc. carefully, before heading to a dealership.


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