Three Tips on How to Get the Best Car Loan

the first tip in securing the best car loan is working out your ideal car loan term. take into account all your other major expenses, like rent, insurance, bills and any other loans you’re paying off. set aside an amount for your car loan repayments, and then set aside a little more just in case. this will help you determine how quickly you’ll be able to comfortably pay off your car loan, provided your income stays the same.

remember that longer terms equal lower regular repayments, but that they also equal more money paid in total due to more interest accrued.

wrapping your head around the wonderful world of insurance is essential when getting yourself the best car loan. insurance payments will be a primary cost to account for, so it’s important you work them out early. let’s take a look at a few different insurance options below:

• comprehensive – we all know what comprehensive car insurance is. this policy means it covers both the other driver’s car and your car if you’re involved in an accident.
• gap insurance – gap insurance can be a lifesaver. let’s say you’re financing your car and it’s unfortunately written off while you still owe money on it. it may be unlikely, but it certainly can happen. gap insurance can save you thousands of dollars in this scenario by covering or reducing the gap between your finance payout amount and the insurance payout amount.
• consumer credit insurance – cci protects you if you’re suddenly unable to meet your loan repayments due to unemployment, injury or death.

don’t just go with the very first car loan you’re offered. take a look around and see what’s out there! if nasty old gumtree guy calls you a dreamer, laugh in his face and prove him wrong. you can get the best deal on your car loan, and it begins with talking to fingo.