Before buying a car, of course you have to determine which one to buy. Very many types of cars, can be seen from the brand, size, color, and use. The first thing we must determine is what is the purpose of buying a car. If you feel you will need a car to carry super-large items, choose a large car.
Meanwhile, if we need a car just to facilitate activities to go to the office, maybe it would be better to choose a small car because it is easier to drive. Back again, think about what type of car is needed, not desirable.
Pay Attention to Car Buying Prices and Selling Prices Later
Some cars will go down 10% -15% right after leaving the showroom. But there are also cars that used prices can be higher than the purchase price.
If you don’t want to lose money later, pay close attention to this. Try to see from the brand, engine, and other specifications to be used as a guide in assessing the selling price of your car later.
Find a Comparison of Several Dealers and Leasing Companies
Once you are sure of the car of your choice, it is time to go to several dealers and compare prices and credit programs that apply there. Although the brand is the same, sometimes it makes a difference. The difference can be in the form of interest rates or other promotions it offers.
Therefore, do not rush to make a choice without prior consideration and comparison.
Look at the Total Price You Must Pay
In addition to seeing how much the price of the car, consider also how much interest you have to pay later. Usually, the bank or leasing will take 20% interest from the selling price. By looking at the amount of installments to be paid each month. we can calculate how much expenditure is needed.
However, don’t be fooled, the smaller the installments you pay, the longer you will pay. This will be more risky for your financial life later.
Determine the Installment Period
The longer you have to pay in installments, the lower costs you will have to pay. It does look more lighten your financial burden every month, but think about what might happen in the long term.
For example 4 more years your child must go to school, so it will require more money than usual. Then it would be better if you complete your installments before 4 years, so as not to be burdened by the installment money again at that time.
In addition, consider the interest rates, whether fixed or not fixed. If interest rates are not fixed, it is likely that later you will pay a higher installment than now so that the price of the car becomes more expensive.
Be a Smart Buyer
No doubt, car loans are a very convenient means to own a car. No wonder so many people use credit facilities to buy a car. But do not let you be careless and become the person who experiences the effects of losses from car loans.
Be a smart buyer by paying attention to the 5 important things above before you loan a car.