|
Your new car budget
Car Buying Tip #1
If you're paying for your car by means of finance or lease,
as a general rule, car payments should not exceed 20% of
your monthly take-home pay
|
Try our
Car Loan Calculator
Before you set out to negotiate a new car purchase, setting
your budget is critical. You must know your own financial
parameters better than anyone when you buy a car....
Car finance tips
Be careful not to get roped into finance solely on the
premise a company can match or better a payment you've
already been quoted - DO NOT! Especially if they say: “But we
could have you driving that car for this amount or maybe
less - or this much better car for just a little more!”
This often means you’d be
about to pay much more money for your car over a much longer
period of time, and/or have a 'balloon' payment to
deal with at the end of the term. That is: You still owe 10 to 40%
(or more) of the original
purchase price at the end of the term.
I have seen many people try and get out of their current car
and into another at various stages of these types of
contracts and they just can’t.
Usually it goes something like this: They owe 20,000 on
their car (lease or finance) and the car is worth 9000 (and
going down) - If they sell or trade for 9000, somehow they
must find 11,000 before they start fresh, or even worse,
they re-finance some of the shortfall (If they can find a finance
company who is prepared to do it)...
...This of course leaves them
in a much worse predicament
at the end of the next one. As you can see, this is not the
position to negotiate a great deal from.
Therefore I recommend AVOIDING 'Balloon' or 'Residual'
payments at the end of a contract if possible.
To reduce the amount of interest you pay over the term of
the contract, have your payments structured over the
shortest time period affordable to you. Shorter time period,
equals less interest.
At
anynewcar
our buying power is saving new car buyers
$1000's everyday on new Mazda, Honda, Holden, Subaru, BMW,
Toyota - absolutely any new car.
If you've decided on the
exact the new car you're buying, and you'd like
anynewcar to
negotiate the best price
on your new car for you - click here.
 |
|
Client
Feedback
"You have two very contented clients here with a
new car discount of more than $8,000 and delivery to our
door with a full tank of petrol - hard to beat that!
The dealer
representative who delivered the car also commented on your
efficiency so when two parties to an agreement are well
satisfied with the outcome it reflects well on your energy
and skills. We will certainly be telling others about your
service."
J & G Gibson Belrose, NSW
Enquire Now |
|
