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How To Easily Finance A Flamborough Car Loan

How To Easily Finance A Flamborough Car Loan

Sometimes we like to go into some depth on particular subjects and sometimes we like to offer quick, actionable tips you can use. Today is time for the latter. Some quick and easy tips to help you successfully apply for a Flamborough car loan.

 

Our Flamborough auto loans team has put together some simple, effective ways to help you drive away happy. We hope they help!

 

1.   Set a budget before you search for a car

 

As you’ll quickly find out, it’s very easy to fall in love with a car that’s too expensive or be seduced by a luxury model. It’s tempting to stretch and overspend and dealerships are full of opportunities to do that.

 

That’s why we always recommend setting a budget before you even begin shopping for a car.

 

Knowing you have a finite amount of money to spend should go a long way to preventing overspending. Willpower is still required but budgeting can help!

 

2.   Create a needs wants list

 

If you have a shortlist of cars and cannot decide between them, create a needs wants list. One column of the list for all the things the car needs to have and the other for things you want it to have.

 

For example, the car needs room for 3 children and luggage. It needs to have AWD to cope with winter or it needs Android Auto to pair with your phone.

 

A wants list could include navigation, leather seats, heated seats or other quality of life features you would ideally want.

 

You can then use this list to help choose your car and that car should deliver on its core purpose.

 

3.   Don’t use all your savings for the down payment

 

If you have a finite budget, blowing all your savings can also help you overspend. We encourage everyone to use as much of a down payment as you can afford but within reason.

 

You know how life works. The minute you empty your savings for a down payment, something goes wrong. Your central heating breaks down, your roof begins leaking or something happens that requires cash.

 

Use as much as you’re comfortable using but keep a little for emergencies too.

 

4.   Don’t let bad credit put you off

 

There was a time when having bad credit meant no auto loans, but those days are thankfully behind us. You can get finance for a new car regardless of your credit situation.

 

As long as you can afford repayments and the loan won’t put you into financial hardship, you’ll qualify.

 

Don’t let past situations mess with your future.

 

5.   Factor running costs into your budget

 

Buying a car is about much more than the sticker price. We see lots of customers work out how much they can afford each month without taking running costs into account.

 

The average car costs around $1,500 to run each year. That includes insurance, tires, gas, servicing and all the other things that cost money when running a car.

 

Make sure to factor those in when you’re assessing Flamborough car loan affordability.

 

If you need help or advice on anything to do with auto loans in Flamborough, contact Car Nation Canada today, we can help!

 

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