There are two "best times" to buy a car.
- The end of December is a good time for car buyers to buy a new car.
- Another good time to buy a car is July to October as new car dealers sell off cars at low prices to clear space for new car models.
HOW TO BUY A USED CAR
Before you begin your search for a good deal on a used car, spend time considering many of the same factors that would apply to a new car purchase: how will you use the vehicle; how long do you plan to keep it; and your budget for the purchase, including insurance, operation, maintenance and repair costs.
If Budget is top priority then you rather buy a smaller car that's newer than a large car that's older. Owning a larger car will cost you more as the running costs - fuel, maintenance, tyres, spares are costlier. The best bet is to look for something almost new - Two years or younger.
CAR LOAN TIPS
Financing a new car purchase requires some research. Before venturing out to the car dealerships uninformed, let's take a look at what you will need to know about the car buying process. First of all, about 70% of all new car purchases are financed. So unless you plan on paying cash for your new car, or you are going to apply for a car loan, chances are you will be financing your purchase.
You should look at financing your car as a four-step process:
- Determine your financial situation
- Decide which car you want
- Do your home work
- Go to the car dealers
TYPES OF CAR LOANS
- Car Loan With Fixed Interest Rates
- Car Loan With Variable Interest Rates
- Car Loan With Adjustable Interest Rates
