Are you thinking of buying a new car? Before you sign any contracts or pay one dollar you should consider various points. You want to be buying a car that is within your budget and most importantly suits your needs.

What should you keep in mind when shopping for a from a car dealer?

1. Remember to do your homework, read reviews, speak to your mechanic and any friends that have the same car. They will give you an honest opinion.
2. Decide on a budget and seek for a pre-approval before you even think about finding a car, you want to know that the finance is there when you find the perfect package.
3. If your buying from a dealer does not get persuaded by their discounts in purchasing another vehicle you know nothing about!
4. Pay a professional to inspect your car if it’s not brand new! Various companies offer this service, specifically for the pre-purchase of your car. An engine test and a road test is taken out and you receive a detailed report in order to guide you in making your decision.
5. Do not pay a deposit unless you are certain the car is in excellent condition.

How about private sales?

1. Check that the car is paid off! The only service “Register of Encumbered Vehicles” will provide you with a certificate that there is no money owing on the car.
2. Have your car examined by your local mechanic; you don’t want your purchase to be faulty!
3. Be sure that the owner is who they claim they are, in case it is a stolen vehicle.
4. Negotiate a fair price with the owner.
5. Take the care on a test drive!

Take the time to examine your car thoroughly, taking on necessary tests and measures so that you can be satisfied with your purchase. You don’t want to be buying someone else’s problems and having to pay another that much to fix mechanical problems!

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Considering buying a car for the first time but unsure about how to go about making the right purchase?

Here are a few tips to guide you through your journey….Three main points that must you must think about are:

• What price range should I be looking at?
• When should I seek for car finance?
• What are my finance options?

What price range should I be looking at?

Before you even think about what car you want to buy, you must see how much you can afford. Take into consideration your weekly expenses remember although you will potentially have a car to make you way around you must always have enough money to repair, service and stock up on fuel. Another question you must ask yourself is whether you will you be financing the entire amount or putting forward a deposit? To get a better idea of how much your repayments may be use our Car Loan Calculator to see what your budget looks like.

When should I seek for car finance?

Once you know your budget, the next step is to organize your car finance. In some cases you may need a guarantor or your partner to go on the loan as a co-borrower, this occurs in cases when you don’t have enough capacity to fund the loan alone. Aim to get an Approval first, this way you know your finance is ready and all you need to do is find the right car.

What are my finance options?

You have two options a personal or car loan. Keep in mind that personal loans are very difficult to get these days financiers are very strict on their terms and conditions. A car loan is what you need and is easier to arrange. With loan terms of up to 5 years you won’t even notice that you are repaying your car, keep in mind the more you pay the earlier you will own your car. In addition, you may make larger or additional payments throughout your loan term if you wish.

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