It’s just another one of those things you have to consider when you’re on the road to true adult-ing. But the truth is, there are many reasons why you should be excited about the idea of financing your first or next car, rather than paying cash. By the end of this post, you’ll go from being a novice to an aficionado in car finance and will be able to see the benefits clearly. Here are three big reasons to go with car financing!
1. More flexibility with your money
One of the best reasons to finance your car instead of paying cash is the benefit of more flexibility with your money.
Let’s say you’ve got $10,000 saved up, and the car you’re buying is $9000. If you were to pay for the car in cash, you’d only have $1000 left to play with. Think about all the other expenses in your life – they could include rent, bills, insurance, and all the other important stuff. Even if you don’t have those expenses and you’re living at home, you could still have textbooks or tools to pay for.
And let’s not forget that you’ll need money for leisure too, like going out on the weekends and having a good time with your friends. Financing your car instead of paying cash gives you more flexibility with the money you have, allowing you to afford the expenses of normal life.
2. You may not have the funds available
Buying a car is a huge deal, so it’s understandable if you can’t fork out the thousands of dollars up front. Many Australians choose to finance their cars, simply because most of us aren’t in a position to pay cash! But with car finance, you’re able to steadily repay the cost of your car. Every week, you’ll pay off a little bit of your car finance and, by the end of it, you’ll own your dream ride outright.
3. Interest rates can be incredibly generous
We hear this all the time: interest rates are at an all-time low. So, if it doesn’t cost much at all to finance your car, why wouldn’t you take advantage of it? If you find the right car financing company (*cough* Fingo), you can make the most of incredibly generous interest rates, meaning you’ll save a heap of money as you’re staying away from dealer finance – which can be a lot trickier.
Feeling ready to become a true adult and get a great deal on car finance? Talk to the team at Fingo. We’re dedicated to providing great car finance for all Australians, including you!
With over 20,000 happy customers, join the Fingo way and get on the road to smarter car finance. Our 5* service team are happy to help you out, so get in touch today.
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