When it comes to financing a car, there are many options available to you. For example, you might decide to save up for a new or used car and buy it outright, or you might take out a loan for its purchase. You can also search online to take the best car finance in New Zealand.
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In this article about car finance, we take a closer look at the benefits of either option.
Why you should buy a car on finance?
When you finance a car, you're getting a great deal on a vehicle and financing it over time. You can pay off the loan early, and you don't have to worry about making monthly payments. Plus, you can take advantage of special offers and financing deals that are available from your bank or credit union.
Here are the reasons to buy a car on finance:
1. You can get a great deal on a car. The average car loan amount is $29,000, but you can find loans as low as $17,500. That means you can get the car you want without having to spend a lot of money upfront. And if you need to sell the car in the future, you'll have already paid off part of the debt.
2. You don't have to make monthly payments. With a car loan, you only have to make one payment each month. That means you can easily handle your finances and still get the car you want.
3. You can take advantage of special financing deals that are available from your bank or credit union. Many banks offer 0% interest for up to 12 months for new cars and high-interest rates for used cars.