There is a very suspicious noise coming from under the hood of your car. You could investigate, but, it’s still running, yes? No detectable wobble. No blinking red light communicating disaster at hand. All seems to be well. That is until the engine of your poor old clunker drops out in the middle of Oxford Street. What now? Fixing a major problem in an old car usually costs more than the car is worth. There are always other clunkers to buy, but clearly you are tired of these automotive disasters waiting to happen. “What should I do?” you ask yourself. Suddenly, an exciting idea comes to mind. Could it be? Have you matured enough to purchase your first new car?
Welcome to the world of new car loans. If you’ve never purchased a new car, this can be an alarming endeavor. “What if my credit’s not good enough? I never paid the doctor who tried to put me on that weird diet to lose 10 pounds, and I’m always asking for an extension from the Gas Company…” Your inner monologue blows up with these nightmarish credit scenarios until a visit to the New Car Dealer seems as terrifying as an evening stroll in the local graveyard. Take a long cleansing breath and chill. Financing a new car is not as hard as it used to be, and with a little help from the right finance company, it can be a walk in the bush.
The obvious jumping off point for your journey to a shiny new vehicle of your own is to sit down and (honestly!) figure out exactly what you can afford, both in the cost of a new car and in monthly payments to the finance company. Don’t forget to figure in insurance (If you finance a car, you’ve got to go for full coverage.), gas, a small amount towards maintenance (tires, oil, etc…). Next, decide which car is going to be your very first financial ball and chain (just kidding). Your very first shiny new vehicle! Don’t get carried away. Try very hard to make a wise and judicious choice, avoiding all of the 12 cylinder road monsters that look so very, very tempting. Okay, go a little crazy. If you want snazzy, choose a bright color or the sporty version of a sturdy, dependable model.
Once you’ve made your choice, it’s time to find a company that will finance you. You can find a financier yourself, or most automotive dealers can give you some direction. It’s possible to check your credit yourself and try to clean up any problems before meeting with your potential financier, but be prepared to be honest and upfront about those nasty nicks that show up on your credit report. In today’s market, there are many ways to creatively finance your first car, and even if your credit is not stellar, possibly using a co-signer, or paying a bit more may be options for you.
So chin up. Steel yourself, take a breath and march in to your local dealer to purchase your first new car. Next it will be your first home, wife, kids, old age, infirmity and death. Good on ya, mate.
Need Finance has been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals. Go to http://www.needfinance.com.au to find out more now.