Buying a Car that Retains its Value

You can make a difference to your resale value of your car with some handy tips here!

Choosing the Right Car - Because you will eventually have to sell or look at a new car, it’s important to choose a car that will potentially stand the test of time. Some cars are evergreen, and it pays to look at whether those models fit into the list that you’re looking at.

Looking at your Options - Different car features will appeal to different people so if you have too many frills installed, it may be harder to attract the right buyer. Our advice is to go for a right tier of car that offers as close to what you want without too many pricy add-ons.

Taking Care of your Car - We can’t stress how important it is to take care of your car and drive safely! Accidents and deterioration of the inside or outside of the car will negatively affect its value.

The Smarter Finance Company can help you to make sure that your finances are in order so when you eventually sell your vehicle, you’ll be financially prepared for that new one too!

Buying a Car that Retains its Value

Things to Think About when Signing for Car Financing

Here are some basics about car financing so that you can go into negotiations knowing what to expect...

Payments - THE biggest component of car finance is the amount you pay back to the bank every month. Tweaking this figure helps to shorten or lengthen the tenure of your contract depending on how much you can afford.

Interest Rates and Fees - Floating/variable or fixed rates affect how much on top of your monthly payments you are paying back to the bank. Sometimes there are additional fees to the dealer or broker as payment for their services.

Options - Check out the fine details of how your car loan works, for example Novated Leases, Hire Purchase agreements, secured and unsecured options, refinancing, balloon payments and tax rebates.

What Happens if you Can’t meet the Obligations - Read the T&Cs carefully to ensure that you know what happens if you miss or default on your payments.

You can make the process a lot simpler with a little help from  The Smarter Finance Company, find out how we can help you with your car finances today.

Things to Think About when Signing for Car Financing

A New car versus an Used car

If you need a replacement car, you might want to look at our list that compares buying a new one or a used one first.

Buying a New Car
Pros - You don’t have to wait for a car that you want to be available, they come brand new. You have your pick of options and noone else has touched the steering wheel or sat in that seat. You don’t have to worry about car history either.
Cons - New cars are definitely more expensive and value drops instantly after you’ve signed the dotted line. Feedback on new models is also harder to find.

Buying a Used Car
Pros - Cost is definitely a factor - you might be able to get a car that you like for a steal, and at cheaper interest rates too.
Cons - The history of the car is in question here especially if the previous owner did not maintain or repair issues effectively. You may not pay actual value of the car either since sellers always try to make money when they sell.

You can find out more when you compare car financing rates with The Smarter Finance Company. Let us help you decide which one will fit you best!

A New car versus an Used car

Things to think about When you Buy a Car

Here’s a quick how-to list of how you can get ready to search for a brand new ride!

1. List your Criteria - Figure out what you want in a car and list it down. Think about comfort, safety, engine power, fuel economy and even the cost all.

2. Prioritise your List - Are you willing to settle for less fuel economy if your car comes with more power? Rank your list of criteria since certain models of cars will be better at some things rather than others!  

3. Fix a budget - You need to decide how much you are willing to spend! A financing plan might raise your budget, but you need to figure out a comfortable monthly repayment amount for you to handle.

4. See what fits - Once you’ve got your criteria and budget, you can really start shopping. When you find something that fits your list, shortlist it and then you can pick the best ones from your final set!

If you need some extra help working out your finances, you can look for The Smarter Finance Company to help you out with your car loan! Call us today! 

Things to think about When you Buy a Car