Car Financing Tips for Millennials

Car Financing Tips for Millennials

By | 2017-08-11T09:11:54+00:00 21 August 2017|Blog, Car Finance|

One of the proudest moments in a young adult’s life is getting your very first car. You spend months imagining yourself behind the wheel, while looking at available options and considering things like fuel efficiency and boot space. The more daunting tasks like vehicle financing and finding the best car finance deals are usually put off for the last moment. Here are some simple tips to help you get your head around car financing before making this all important purchase.

 

Know Your Budget: First time salaries aren’t much, and amidst the responsibility of paying monthly basics, you probably have little wiggle room in your budget to splurge on expensive wheels. Being realistic about how much you can afford to pay towards vehicle financing is the first step to getting an ideal car without breaking the bank.

 

Get Financing that Matches Your Budget: Paradoxically, low-cost car finance deals are hard to come by for newly employed millennials, mainly due to the fact that they don’t have trustworthy credit records yet. However, as long as you can prove that you have steady income that’ll enable you to make your monthly payments, you shouldn’t have a problem getting your application approved.

 

Read the Fine Print: Millenials are known for their short attention spans, which is what might do you in when searching for a good car financing deal. A good vehicle rent to own deal like the one offered by Earn-A-Car, should include things like car servicing and insurance, which often come as extra costs with other providers. So be sure to shop around and fully understand what the real cost of owning your vehicle will be.

 

Not All That Glitters is Gold: One can feel quite pressured to keep up with peers by purchasing the latest model of the fastest car on the road. But having a posh car isn’t all it’s cracked to be, and it certainly doesn’t define who you are. Getting a reliable used vehicle which through reputable vehicle finance or rent to won companies will still give you the independence and mobility you need without costing you an arm and a leg.

 

Get The Best Insurance For You: Car insurance is an essential part of being a car owner, but most insurance packages can be quite expensive, especially for your adults. One way to save on your car insurance would be to look at more than one option, or even choose a per kilometre package that’ll only charge you for the distances you drive per month. Customised packages often come cheaper than generalised ones.

 

If you’re one of those that have entered the car and job market with bad credit, then you might need some advice on owning a car while blacklisted. Contact us today to find out how you can get ownership of a car with bad credit on 080 327 6222.