The following is a guest post about financing a new car. If interested in submitting a guest post, please read my guest posting policy and then contact me.
Buying a car can often be one of the costliest forms of expenditure behind buying a house. The key to investing in such necessities is saving as much as possible in advance to give you the best available options.
The thought process that we all go through in advance of contemplating such a large outlay with our personal finance can be quite a lengthy and daunting one, with many individuals either delaying the process or reprioritizing where the funds are channeled due to other and maybe unforeseen factors of greater priority.
With having to balance essential bills for food, clothes, gas, electricity, fuel and so on, this can often leave us all feeling slightly jaded, demoralized and void of any tangible financial support on top of the monthly wage for a new vehicle.
Whether a necessity to get from A to B, or if your existing car has reached the end of its life, a savings pot may never leave enough in the kitty to buy a car with any redeeming qualities to run without any major problems for a decent enough period of time. This can often leave many in a dilemma, with those that choose to run to expensive short term loan companies, mistakenly forgetting to check the small print on APR accumulated over lengthy periods of repayment. Others do have the luxury of time on their side to accrue the balance to afford their ideal car.
This beggars the question, what do you do if you simply don’t have the savings; or don’t wish to turn to expensive short term loan companies? There are options available, with various websites and watchdogs available to research, which is highly advisable. Many car finance organizations can provide guaranteed car finance, and will take more into account than just an individual’s credit rating before offering finance.
It is worth evaluating a range of car finance options and schemes before biting the bullet and making the purchase. The best advice to be given would be to save as much as possible for your deposit on the vehicle before seeking car finance to pay off the remaining balance. After all, choosing the right finance scheme for you may even result in you securing ownership of a better car than you initially envisaged.