We all have aspirations of driving into the sunset with the soft top down and the breeze tickling the senses. This, the cliched, yet quintessential car dream of every heavy-set and balding, 50-year-old man driving a sports car. If you want a car like that, don’t wait until you are too old to enjoy it.
But they are driving that car now because now they can afford to. You have the money for a second-hand or triple-owned sensible vehicle. Maybe at a stretch a new, entry-level, compact car. Have you considered car finance?
The Benefits of Car Finance
During times of reduced cashflow, it is hard to get what you need, not to mention what you want. At times like these, you have to be wary of false economy and wasting money in the long run. Car finance is one way to get what you need and want.
Money in the Bank
The money you have saved to buy your car will stretch as far as, say, a new entry-level Dacia Sandero Stepway. But you don’t want a Dacia even though they are a fantastic vehicle for the money. You have your heart set on an Audi Q2 and the heart wants what it wants.
With car finance, instead of purchasing outright what you can afford at the time, you can use your money as a down payment for the car you really like.
Investing in Your Future
Taking out finance will establish or enhance your credit history. Provided you make your payments on time, car finance is an investment in more than just the car. Cheesy as it may sound, it is an investment in your future.
It takes a while to build up your credit score, but it is imperative that you do. Otherwise, how are you going to get the house, the boat and caravan, that whole lifestyle you fantasise about?
Dealership finance is often not the best deal around. If you are serious about financing your car loan, shop around. Use a broker, even though they are the middle ‘man’ (person), you will not be the one paying for their services, the money lender will be. You will be the one reaping the benefits of the broker’s expert industry knowledge.
The broker will work with you and for you to find the best deals and loan terms money lenders have to offer. Depending on your current credit rating, you can be offered some excellent, cost-effective terms.
What if your credit score is not great?
Not everyone has had good fortune in their lives every step of the way. Sometimes, the harder you try to get ahead, the harder you get knocked back. This is life, and it is understandable. If you do have a bad credit score or you don’t have any credit rating, you can still get what you need and want.
Getting what you need is easier than getting what you want in this case, because you might have to take a baby step or toddle a while to get to the finish line. There are car loan brokers here to help you specifically. Bad credit car finance is available to get you on the right track to that luxurious lifestyle you crave.
The Bottom Line
Buying a car with cash might save you some money in interest, but it will not help build your credit score. And it will not stretch to the car you really want. It may prove to be a false economy, especially when it is time to upgrade and the trade-in price is more like a bad rendition of ‘how low can you go?’
Why play that game when you can use your existing cash to invest in a better car and a brighter future? Consult with a car finance broker with a great success rate. Their services are free to you, so is asking the question, ‘What kind of car can I get with my current credit score?’