- New car warranty
- Modern features and customisations available
- May include roadside assistance
- More expensive
- Value depreciates faster
- May be tied to specific mechanics to maintain warranty (which can be expensive)
Find a branch, mobile banker or rediATM.
Instead of falling in love with your dream car then stretching yourself to pay for it, think about what you can afford comfortably. Before you start test driving vehicles, do some research about the type of car you are looking for so you know what to expect in terms of price and value for money. You’ll also want to factor in the extra costs of owning a car, such as registration and insurance.
Just like any financial decision you make, it’s worth taking the time to research all your options. It can be easy to get caught up in the excitement, so writing down exactly what you want can help you stay on track. Keep in mind too that the size of the engine and the car’s fuel efficiency will continue to affect your running costs for the life of the car.
When you’re setting your budget and considering what type of car you need, you’ll also need to decide if you want a new car or a second hand car.
You need to find a car you’ll love to drive, but keep in mind you may one day want to sell it. White, silver and red cars tend to maintain their value because the colours appeal to a broader audience and they don’t date like other shades can.
Once you’ve set your budget and know what type of car you want, you’ll need to figure out how you’re going to pay for it. If you need extra money, a car loan may be a good option. Use the calculators to see how much you can borrow and what your repayments might be – and be sure you have enough money left over to get out and enjoy that car!
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