Choosing, then buying a car, even a used car, is a big decision. It could be the second most expensive thing you’ll buy after your home. Buying a second hand car on finance can be an affordable way of achieving your dream car sooner than you thought. But there are many things to consider and it’s important to make sure you’re comfortable that car finance is the best option for you.
It’s worth getting a good handle on your own financial situation before you start looking around for car loan. You will need to know whether you can afford the regular used car finance payments for the vehicle but you’ll also want to think about the total cost of borrowing including insurance, costs to maintain the car, and the yearly running costs.
If you’re intending to buy a car using finance, buying a low mileage nearly new used car can be a smart option as those additional costs of keeping the car on the road are minimised and you get a great value car while being able to spread the payments out over time.
There will be fees and charges involved with getting car finance such as a loan establishment fee, optional insurances and warranties. The documents the lender provides should show these and you can ask them to explain them clearly. Near New Cars is a reliable Tauranga car dealer who will be happy to talk you through it all so there’s complete transparency whatever the used car finance option you choose.