For most people a car is their first major purchase.
It’s a big financial commitment, so if you are buying your first car it is important that you are certain that you can afford it. To help you, we’ve listed all the things you need to consider so that you are fully informed before you make that commitment.
First think about your current finances.
Work out how much of your income you already spend on other financial commitments, such as:
- Rent and/or home loans payments.
- Utility bills.
- Other loans and/or credit cards.
- Insurance.
- Food.
You should also take into account other regular expenses as well – how much you need for clothing, socialising, gym membership, even your morning coffee!
Set yourself a limit on how much you can spend.
Remember that buying a car comes with additional and ongoing costs such as registration, fuel, servicing and maintenance/repairs. You may find it helpful to find out in advance how much you can borrow. If you’d like to get pre-approval on a Liberty car loan, all you need to do is contact us or call us on 13 11 33.
Decide what sort of car you want.
Large or small, manual or automatic, hatch, sedan or wagon? What additional features are you looking for, and have you factored these into the cost of the car? You should also take into account how safe a car is. The First Car List has been compiled by Arrive Alive and lists cars of various ages, sizes and prices that have been found to be amongst the safest that you can buy.
Do your research.
Find out what is available to you by looking at online car sales sites and by visiting a few car dealers. Ask questions. Take a few test drives. If you are buying a used car, weigh up the price of the car against things like mileage, service history, and wear and tear. How many previous owners has the car had? Do a REVS check to ensure the car is free from any encumbrances, and a vehicle history check to find out if the car has ever been involved in a collision.
Found your ideal car?
Fantastic! Make sure that your dealer gives you a written quote that details the price and terms of your purchase, including details such as whether or not the registration, insurance or stamp duty is included in the price.
Now you need to arrange your loan! Contact us or call us on 13 11 33. Don’t forget that once you have bought your car, you need to register it, pay stamp duty on it and insure it. Visit our Stamp duty page to learn more.
We think this might be just what you need
Liberty Drive
Buy the car that you’ve always wanted with our low rate car loan that offers optional extras.
You may also want to consider
 We can help to temporarily lighten the financial load with our Flexible Payment Arrangement (FPA). |
 Protect your loan repayments with Liberty's Insurance Shortfall Protection (ISP). |
HOW TO APPLY
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