Monday, October 25, 2010

Top Ten Tips on Car Finance

Along with buying a house another major investment that many people face today is purchasing a vehicle. Certainly with the cost of fuel on the increase buying a car that provides everything that one needs but is also

economical is crucial today. In this article we offer the top ten tips on car finance so that you get the best deal possible when purchasing a new or used vehicle.

Tip 1 Set a Budget Once you have decided just how much you are willing to spend on your dream vehicle then you need to make sure that you stick with it. It is important when setting your budget you make a list of the

features that you want your car to have. Do you want one with a large boot? Do you want one that provides ample room for all the family to be seated in it comfortably and safely? Are you after a diesel, petrol or a hybrid car?

Tip 2 Do Some Research The internet is the best place to look for information on the kinds of cars you are considering buying including what sort of price you can expect to pay for them. This information can also be found in

magazines but by going online you can do it for free and it can all be done in the comfort of your own home. As you do carry out your research look for information relating to any manufacturers recalls on a vehicle. Plus check

out when certain tasks need to be carried out such as the changing of the cam belt as this can prove to be a very expensive repair.

Tip 3 Speak to Friends If your friends or someone else you know has the car that you are considering buying then ask them for their opinion on it. Ask them not just how well it does in relation to fuel consumption but how

reliable the car is also.

Tip 4 Compare The Prices Along with looking through local newspapers search online so that you can compare the prices of the cars you are interested in. If you are going to be purchasing a used car then avoid those which

have high mileage on the clock as they tend to need a lot more time being spent on maintaining them. Plus if the vehicle is no longer in production then it may well prove difficult to get replacement parts for it. Another way of

comparing prices if you have time is to spend time going around a few local car dealers close to where you live.

Tip 5 Getting Your Car Finance Arranged It is important that you spend time checking out several different sources for obtaining the finance you need to purchase your car. If you are purchasing a brand new vehicle it is not

always ideal to go with the financing that the dealer can offer, sometimes through arranging your own you can actually haggle with them to get the price you actually pay for the vehicle brought down.

Although you may look at several different places to obtain your financing for the car from it is important that you dont apply to them all as this will end up damaging your credit rating. A poor credit rating and you may well find

that you cannot get the sum of money you want in order to purchase the car of your dreams.
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