Tag: Buying a Car

18/07/2018
Auto

Various Ways to Finance Your Dream Car

The news of affording to get a new car is what every person would like to hear. Better still it is the best thing if someone can afford their dream car. Unlike a couple of decades ago when buying one was an uphill task, things are far much better today since there are many options for car financing. All that one needs to do is to identify the best option that will work for them. It is advisable to research on pros and con of all the options that are available. For those who do not know, here are the various ways you can use to finance your dream car.

Using Financing Institutions

The options include banks, cooperative societies or any other that apply in your country. Such organizations finance the purchase of a car of your choice if you meet the qualifications they are asking for. After the financiers fund the car purchase, you will be left paying monthly installments as agreed.

Buying a new car

They also include annual interests depending on the duration, the price of the car and the interest regulations of the state. In most cases, these institutions finance on behalf of people with a stable source of income. The best thing about this way is that you will drive the car as soon as you qualify for the financing and the cheque is written.

Saving for the Car

People with a good salary or profit from their business can decide to save for their dream car. The project may have to wait until the money is enough and will call for enough patience. However, this is one of the best options since one will not need to repay any money. Reliable saving schemes can help you maintain discipline and hit the target within the stipulated time. It can be through a bank or any other method you are comfortable with.

Use Peer-to-Peer Loans

Today, we are glad to have peer-to-peer loans which most people are using today to finance different projects. If you visit a reliable website or social media network, you will be in a position to know how this option works. When you apply for the loan, you are likely to get it, especially if you are in a position to prove that you can repay back in time. The interest rates are low since the aim is to help the peer achieve their goals.

Use Hire Purchase Method

Most car selling companies are now allowing people to own their dream car through a hire purchase method. Due to the stiff competition in the industry, these companies are flexible and will give you affordable repayment plan as long as you commit to honor them.

However, hire purchase does include interest and it is crucial to consider the company with the lowest interests to make the repayment affordable. With hire purchase, you will have to make a downpayment of a certain percentage before they allow you to drive out the dream car.

Conclusion

Owning a car is no longer a dream too far, especially for those who have stable employment or business. You too can use one of the above options to finance your dream car.…

20/10/2017
Auto Buying

Auto Tips: How to Buy a New Car With Ease

Buying a new car can be a painful undertaking especially for first-time owners. The biggest concern for car buyers is usually whether they will be getting value for money. This is an important consideration given that the car market is one of the markets synonymous with fraud. Buying a car is a key investment and should, therefore, be done carefully. The following guide should help you buy a car with ease and escape many of the challenges that car buyers face.

Do your homework on the Internet

Car buyingThe Internet is an ideal place to find important information about cars before deciding on the vehicle to buy. Get on websites that offer information about different models of cars to learn about car features, prices, and the challenges that one is likely to experience by buying a particular car model.

Doing your homework before contacting the seller will also ensure that you are not offered misleading information. Remember that the key objective for most car dealers is to sell, even if this means giving customers a raw deal. Being armed with information improves your negotiating position and ensures that you get value for money.

Understand what you need to accomplish with the car

Buying a car that does not match your needs is a common mistake that most first-time car buyers make. Understanding what you need to accomplish with the car will help you decide fast on the car model to buy. For instance, if you need a family car, it is necessary to go for a car that has enough space to accommodate the whole family. Once you understand your car needs, then it becomes easier to make a purchasing decision because the scope of your search is narrowed.

Arrange for financing in advance

Getting a pre-approved loan will ensure that you gain ownership of the car immediately after agreeing to terms with the seller. Financiers and insurers are likely to want to exploit you financially when you approach them after you’ve settled on the car that you want to purchase.

Getting a pre-approved loan allows you to negotiate for credit terms that are favorable. The financiers will realize that you are not pressed for time and are, therefore, likely to offer you better loan terms to prevent you from moving to the competition. A pre-approved loan will also ensure that you have an estimate of the amount of money that you want to spend on the new car. This narrows down your choices and helps you to make a decision fast.

Seek the services of a car expert

Let a car expert help you decide if you are not knowledgeable about cars. Ensure that the expert that you choose is someone that you trust and has no conflict of interest in the impending transaction. You might take a lot of time to arrive at the final decision due to the need to have all the relevant information before making the purchase. However, a car expert will help you make a final decision within a short time.

These tips will help you buy a new car with ease and ensure that you get value for money.…