Buying a car is one of the biggest purchases most people make. When it comes to paying for your new car, you have some options available to you. Today we will look at these.
Cash purchases, while not a practical solution for most, could also exclude you from substantial discounts as dealers are more inclined to give a better deal on the car price if they know the client is financing in house. Ensure you visit the dealer’s website for more info.
If you’re not buying your new car with cash, then it’s advisable to apply for finance with the dealer’s in-house finance agent, as they will ensure that you get the best possible interest rate and most hassle-free experience. When purchasing through Eagle Corner, the most convenient way to get finance is to have it financed through Eagle Fin or Ford Credit.
It’s also important to have a sufficient deposit as this could decrease your monthly installments significantly. If your car is relatively new and in a good condition, it’s a good idea to trade it in for a new car as the difference between the trade in price and the bank settlement could give you a healthy deposit.
If you’re going to make monthly payments, it’s important to take note of the installments and make sure that you don’t plunge yourself into debt. The rule-of-thumb is that your payments should be no more that two-thirds of your monthly housing cost (rent or mortgage).