Don’t make these 5 mistakes when buying a car

Don’t make these 5 mistakes when buying a car

By | 2016-10-26T16:11:15+00:00 28 November 2016|Blog, Vehicle finance|

Whether you’re looking for blacklisted car finance deals or you’re shopping for a new car with a squeaky clean credit record, you’re bound to realise that vehicle finance in South Africa isn’t the easiest thing to achieve. Vehicle finance companies have to be very thorough in their checks and affordability assessments and that often means that blacklisted people and those with a poor credit rating are excluded when it comes to finance approvals. Of course it’s not all about financing when it comes to buying a car. You will need to make smart / wise decisions regarding buying the right car for your needs and budget. To help make the process a little simpler, we have compiled a brief list of five mistakes to avoid when buying a car:

  • Forgetting to budget. Remember that owning a car is about more than just the monthly instalments. You will need to afford ongoing servicing and maintenance as well as keeping the car fuelled and insured. At Earn-A-Car we ensure that our clients are provided with affordable monthly instalments that are inclusive of monthly insurance, accident assistance, tracking device and more.
  • Buying a car that’s “out of your league”. It’s far too easy to see a car that’s impressive and wish for it, but if you cannot comfortably afford it without suffering financial problems; don’t buy it. Shop for a car according to your means. At Earn-A-Car we will help you to choose from a selection of cars that you can afford.
  • Not paying attention to the car’s service and accident history. If you are buying second hand, make sure that you check the car’s service and maintenance history and know where it comes from. Knowing this will help you to determine just how expensive it will be to have the car maintained in in good condition going forward.
  • Not looking for the best deal. Your monthly instalment needs to be affordable, yes, but you should also make sure that you’re getting the best possible deal. At Earn-A-Car, we expect our customers to be able to afford R3500 per month, there are no additional charges and you can actually earn cash back each month to spend on your car’s maintenance or yourself. Now that’s a great deal – the best even!
  • Not having a deposit to put down. Having an upfront deposit available to pay towards the vehicle will help you to reduce the overall cost and monthly repayments. At Earn-A-Car we require our clients to have at least 20% of the value of the vehicle available as a down-payment. Our standard pre-approval requirement is a R16 500 deposit.

Get great deals on car finance with bad credit at Earn-A-Car 

If you’re looking for a great deal on a new car, make sure that you shop wisely. At Earn-A-Car we will help you to make the right choice for you, your family and your available budget, even if you are blacklisted. If you would like some more tips and advice on buying a good car, or would like to learn how you can earn cash back on your monthly premiums, contact us for more information and advice at Earn-A-Car today.