Buying your first car is one of the most exciting milestones in life. It is also a big step towards independence but there are major financial implications you need to be aware of.
Having the right financial provider by your side makes the whole process of applying for vehicle finance a lot easier than you may think. Here are some important budgeting and finance points to consider first before buying your first car.
- Budget like a pro: Firstly when working out your monthly instalment, carefully consider the cost of maintenance, insurance, tyres and other wear and tear items which will play a role in determining your budget. Incorrect budgeting can set you up for failure.
- Money! Money! Money! Buying a car in your price range can leave you with a little extra money in the bank so that you can live your best life. Be realistic about what you can and cannot afford. Click here to use our vehicle finance calculator to get an estimation of your monthly instalment.
- Know exactly what kind of a car you are looking for: Start with a list of what you need, and then follow with what you want. Do you want a point A to point B type of car or a luxury vehicle with all the ‘bells and whistles’? Iemas can also source a vehicle for you – just let us know what you want and we will do all the work for you. Click here to find out more.
- The shopping experience: After you have gathered all the information about the vehicle you want to buy, you will have to inspect the vehicle to determine whether it lives up to quality and space expectations. Do a test-drive so that you can get the feel for the car you want.
Iemas financial Services offers a comprehensive vehicle finance solution. You can apply for Iemas vehicle finance online at your own convenience or you can call us on 0860 043 627 if you want a consultant to assist you. When your financing is approved, we can quickly help you to get insurance from Iemas Insurance Brokers.
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