Need a loan?
Many people will not consider buying a car without borrowing to pay for it. If you intend to borrow, consider the following:
- the interest rates charged;
- the amount of the loan repayments;
- how much less you will be able to spend on going out;
- whether having a car that needs financing is worth it;
- any additional fees or charges that need to be paid above the interest charges; and
- how long will you be paying it off.
Banks, credit unions, finance companies and other organisations all lend money. You can also organise a loan through the car dealer but generally you can find a better deal elsewhere.