Buying a new vehicle is usually an exciting time. Whether you’re upgrading to a newer model or becoming a car owner for the first time, it’s a big deal. Enjoy it! Just be sure you’re armed with all the info you need to make smart decisions. That’s where we come in.
The hardest part about purchasing a car isn’t deciding which model to get, or even negotiating with the seller; it’s determining what’s affordable and within your budget. This requires self-awareness and discipline. This part isn’t quite as fun as the test drive but it’s extremely important. You don’t want to bite off more than you can chew, as they say. Here are a few tips to help you get behind the wheel with a VM Drive Auto Loan and without busting your budget:
1. Budget, Budget, Budget!
Be realistic about what’s affordable, safe and reliable and within your budget. List all your monthly expenses including savings. Then, use the surplus to determine the Dream Car that’s within your means. It will also be helpful to get pre-approved for your car loan based on your budget. This will help when you go vehicle shopping.
2. Shop Around
Once you have decided how much money you can spend for your car loan, it’s best to shop around and do you research on the vehicles that fit your needs and lifestyle. Explore the different prices and add-on benefits such as the warranty and servicing options from each dealership to help you make an informed decision.
3. Be smart about your car loan
Once you have selected the perfect car for you, the next best step is to select the loan offering from a financial institution that cares about building your Financial Independence. Select the loan that will offer added benefits such as no penalty for early repayment, lower processing fees and additional discounts to help with the expense of having a car – like insurance.
Get on the road with a VM Drive Auto Loan. Apply today.