Are you looking at buying a car? You may be a first-time car buyer and don’t really know where to start when you embark on the car-buying journey. We all shop differently. Some of you may be bargain shoppers or maybe you have a habit of shopping with your eyes, going more for what you like than what you can actually afford. Some people prefer to look at cars and then see if they can afford it. Neither method is wrong nor right – but you might like the car so much it may make you consider going over your budget. Calculate how much you can afford on a car, then go out shopping.
Some new car buyers take the easy road when it comes to financing their car, while others take the scenic route because they simply don’t know that there is a better way. There are many questions that need to be answered before embarking on the car-buying journey. Such as: what can you finance? Where do you start looking? Which of the many cars on sale can you really afford?
For most people the idea of buying their first car is a journey into the unknown. They’re potentially committing to a large loan, and none the wiser to the alternatives. Monthly instalments. Linked or fixed interest rates. Deposits. Insurance. These are terms that can confuse or simply stand in the way of a buyer getting their new car – an important symbol of freedom for many.
It is easy to get caught up in the romance, but your dream car still needs to fit into your budget. If you budget first, you’ll instantly know what you can spend. The excitement of buying a new car often leads to impulse buying. Our friends at WesBank help us by looking at the listicle below and work out what shopper you, so you can buy wisely:
Value shopper
You want a quality deal at a good price.
Image shopper
You want your car to match your image.
Lifestyle shopper
You buy products that suit your lifestyle.
Methodical shopper
The car-buying journey takes you a couple months, but you cover every base before you buy a car.
Safety-conscious shopper
You look at the cars with the best safety features because you want your family to be safe on the road.
The best time to buy is when you know you can comfortably afford the monthly instalments on your new car, as well as fuel and insurance. No matter what wheels you plan on financing, it is always good to shop around and find the car that fits into your budget. Don’t feel the pressure to buy a flashy car you can’t afford. The best advice we can offer is to let your budget do the buying and driving, not your heart. Then set a budget and stick to it.
