Need a loan?

Many people will not consider buying a car without borrowing to pay for it. If you intend to borrow, consider the following:

• the interest rates charged;
• the amount of the loan repayments;
• how much less you will be able to spend on going out;
• whether having a car that needs financing is worth it;
• any additional fees or charges that need to be paid above the interest charges; and
• how long will you be paying it off.

Banks, credit unions, finance companies and other organisations all lend money. You can also organise a loan through the car dealer but generally you can find a better deal elsewhere.

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