You may think that getting a new car is expensive, and you’re right! There are a lot of things that add up to the costs of a new or even used vehicle! But if you’re looking to finance your car, there are many ways of decreasing the upfront costs and getting a good deal for yourself!

The Smarter Finance Company has a lot of experience in the Australian car trade industry, and we’d like to share what we know with you!

It’s about the CAR
A bigger car with a bigger engine will obviously cost you bigger bucks! But when you’re looking to pay less for a bigger car, you need to look at ways to decrease your initial costs. Perhaps opting for less add-ons such as a lower grade stereo or rims, window tints, upholstery material or even the alarm system can help you save some money since dealerships like to jack prices up for these extras.

Besides there being no real long term value to having these items built into your car, you can actually check out other workshops that can help you install these extras for a much lower cost or even explore doing it yourself too!

It’s about the LOAN
The right car loan can make a difference between paying a few extra thousand dollars over the tenure of your car financing plans! Make sure that you check out different quotations for car finance rates or look at professional services that compare car finance rates.

They will be able to help you navigate the ins and outs of the car financing world and possibly help you locate a fantastic deal in terms of interest rates, leveraging on your credit score or even just to ensure that you’re properly budgeted for the plan that you need.

A general rule of thumb is aiming for as short a term as possible, the longer the term of your loan, the more interest you pay and the higher your final costs will be. Do your best to keep your loan period as short as possible without busting your budget!

It’s about the DEALERSHIP
Car finance deals are easy to find when you pick the right dealership. There are always new promotions and discounts going on if you are able to wait for them to pop up! Because of the volume at which they move cars, financial institutions are likely to give them better rates compared to if you went to an external broker or vendor. When you head down to the dealership and purchase a car as well as get it financed together at their offices, they are also likely to give you a better overall rate that can help you shave pretty pennies off the final price.

Getting new car finance doesn’t need to be worrisome or stressful if you are well planned out and thoughtful about your finances. Thinking about the options that you have and comparing car finance plans can definitely help decrease your overall costs.

In addition, getting some help from a professional financing company can really make processing the application that much simpler too! Find out more about how you can maximise your funds when you are looking for a new or used car with The Smarter Finance Company