Car Loans Australia :: Articles
SHARE

Share this article!

5 Simple Steps to Buy Your Dream Car Now

5 Simple Steps to Buy Your Dream Car Now

For many people, owning a car is a symbol of success and freedom.
It’s a way to show the world that you’ve made it.
But for others, the prospect of owning a car is a distant dream.
If you’re in the latter group, then this guide is for you.

In this guide, we’ll show you how to get your dream car, even if you don’t have the cash to pay for it outright. We’ll take you through the process of getting a car loan and tell you what to look out for when buying a car.

By the end of this guide, you should have everything you need to make your dream a reality. So, let’s get started!

Make a list of your top priorities.

The first step in getting your dream car is to make a list of your top priorities. What are the must-haves? What can you live without? By getting clear on your needs, you can narrow down your options and save yourself a lot of time and money.

Some things to consider when making your list of priorities:

Car Loans
Finance for all new or used cars including personal or business use vehicles, private sale or dealer purchase. Loans for $10,000 and over Rates from as low as 3.85%
  • Size: Do you need a large car to accommodate a growing family? Or will a smaller car do the trick?
  • Features: What kind of features are you looking for? Do you need a sunroof? Heated seats? A sound system?
  • Fuel efficiency: How important is fuel efficiency to you? If you’re looking to save money on gas, you’ll want to prioritize this.
  • Brand: Are you looking for a specific make or model? Or are you open to other options?

Research your options.

Once you know what you’re looking for, it’s time to start researching your options. This is where you’ll start to get a feel for the different makes and models that are out there. And, you’ll also get an idea of what kind of price tag you’re looking at. There are a few different ways to research your options:

  • Read reviews: A great way to get unbiased opinions on cars is to read reviews. You can find these online, in magazines, or even on YouTube.
  • Talk to friends and family: If you know someone who has the kind of car you’re interested in, ask them about their experience. They can give you insight that you can’t get from reviews.
  • Take a test drive: Once you’ve narrowed down your options, it’s time to take them for a spin. This will give you a good idea of how the car feels and if it’s a good fit for you.

Consider your budget.

The next step in the process is to consider your budget. How much can you realistically afford to spend on a car? Determine how much you can afford to spend on a monthly car payment. It is important to factor in other potential expenses like insurance, gas, and routine maintenance when estimating your budget.

Once you have a clear budget in mind, you can start to look for cars that fit into that price range. This will help you narrow down your options and find the perfect car for you.

Get pre-approved for car financing.

If you're not paying for the car in cash, you'll need to get pre-approved for financing. This will give you an idea of how much you can borrow and what kind of interest rate you'll be looking at.

It's a good idea to get pre-approved before you start shopping for cars. That way, you know exactly how much you have to work with.

Pre-approval for financing will also give you some negotiating power when it comes to the price of the car.

Take the plunge!

The final step is to take the plunge and buy your car! Once you’ve found the perfect car and you’ve been approved for financing, it’s time to make your dream a reality. To do this, you’ll need to:

  • Negotiate the price: Don’t be afraid to haggle! The dealer will likely be open to negotiating the price, so it’s worth a shot.
  • Get a loan: If you’re financing the car, you’ll need to get a loan. You can do this simply online.
  • Sign the papers: Once you’ve agreed on a price, you’ll need to sign the paperwork. This will finalize the deal and make the car officially yours.
  • Enjoy your new car: Congratulations, you did it! Now it’s time to enjoy your new car. Hit the open road and enjoy the ride.

Share this article:

Car Loans - Quick & Easy
If you are in the market for a new or used car, then we'd like to help you arrange the money. Our car loan & leasing service is backed by a national panel of car loan specialists who will establish your eligibility, find lender/s offering the best deals for your situation - and help you through the approval and settlement process. No charge to you - and no obligation to proceed with any recommendations offered.


Car Loans Articles

5 top tips when buying a used car in Australia 5 top tips when buying a used car in Australia
Buying the right second-hand car can be a bit of a minefield – from finding a model that fits your needs and budget - to negotiating the best deal with the seller, but with a few tips and tricks, it can be made a lot easier and less stressful. - read more
Car Leasing Car Leasing
Leasing is an often misunderstood car financing option so, in response to subscriber feedback, we've included this article to help give you a better understanding of what it is and how it works. - read more
Car Financing: Top 10 Car Loan Questions Car Financing: Top 10 Car Loan Questions
There are a lot of factors to consider when taking out a loan for a car. In this article, we'll answer some common questions about taking out a loan for a car, so you can make the best decision for your situation. - read more
When to use a Finance Broker for Car Loan Finance  When to use a Finance Broker for Car Loan Finance 
Whether you're buying a car for the first time or you've been through the process before, it's always worth considering whether or not you should use a finance broker to arrange your car loan. In this article, we'll weigh up the pros and cons of using a specialist finance broker so that you can make the best decision for your circumstances. - read more
Car Sales: 3 Important Steps Before Buying Your Next Vehicle Car Sales: 3 Important Steps Before Buying Your Next Vehicle
If you’re thinking about buying a car, there are a few things you should do before you head to the dealership. The most important thing is to establish a budget and figure out what you can afford. Once you have a firm understanding of your financial situation, you can start looking for a car that fits your needs, lifestyle and budget. - read more

Finance News

Interest rates up another 50 basis points with more hikes to come Interest rates up another 50 basis points with more hikes to come
03 Aug 2022: .

As expected, the Reserve Bank of Australia (RBA) raised interest rates by another 50 basis points this month. The fourth rate hike in as many months, today’s decision takes the cash rate from an emergency low of 0.1% to 1.85%. - read more
Business loans on the rise while mortgage growth remains flat Business loans on the rise while mortgage growth remains flat
02 Jun 2022: .

Australian business loans growth accelerated in April as mortgage growth stayed consistent, with major banks growing at less than the system average according to latest RBA data. - read more
Homebuyers up in the air despite new  government home loan support Homebuyers up in the air despite new government home loan support
29 May 2022: .

The government's promise of an equity contribution will help the most disadvantaged Australians to get a home loan, but they still won't be able to afford one. - read more
RBA lifts official interest rate RBA lifts official interest rate
03 May 2022: .financialservicesonline.com.au

The Reserve Bank of Australia lifted the official cash rate by 25 basis points at its meeting Today. - read more

Need Help Finding a Loan?
Get a free car loan eligibility assessment and compare offers tailored specifically to your circumstances.
Loan Amount:
Postcode:
All finance quotes are provided free (via our secure server) and without obligation.
We respect your privacy.

Knowledgebase
Balloon Payment.:
A large loan repayment made in order to clear a debt. Usually applied to a short-term fixed-rate loan, which involves small payments for a certain period of time with one large payment for the remaining amount of the principal at a time specified in the future