Getting a car of your own may come on top of your wish list. However, the part of ‘making that wish happen’ could be at the bottom of the list of your financial capabilities. Buying a car can be a real tough challenge usually because of the price that you need to pay to get your own kind of ride. This is especially true if you are eyeing something from the line of cars from Porsche, Lexus, and BMW. But if you really want to make your dream car happen this year, you need to be smart about getting the right financing plan that you can afford and will not lead you to sacrificing much from your wallet.

Decide which you want to pay

The first thing you should do is to decide and finalize which car you are willing to pay for. You should consider buying only the car that you can afford. You should also decide whether you are going for a brand new or a second-hand car. If you are only after the experience of being behind the wheels of some of your dream sports car, then consider raking n the cash to buy one of shop for some lease or rent options from sports car for rent businesses.

How do you want to pay for it

Like most people, one-time cash payment can get really difficult, especially to working class individuals like yourself. And even if you have the money to do so, you don’t really want to drain your entire savings account when you buy a car. In this case, laying out your financing plans and options, which can be accomplished through bank car loans, dealership financing plans, a credit union or an online financial institute. There are several reasons why some people choose dealer financing. Though not always, what dealership car financing provides is better interest rates than those offered by banks on car loans. It’s also known to be more convenient. But beware of dealers who add hidden financing charges. On the other hand, other people prefer to trust the financing plans offered by bank loans. However, you need to undergo pre-qualification for a loan. Banks or credit unions, wherein you are a member, can be a great option for you to find means to pay for your own car on terms that you can afford. Just be sure to understand all the important queries loan and financing rates, payment period and terms that apply on the model and brand of the car that you plan on buying.

If you find car ownership and all the processes that go with it quite a hassle to your financial status, then you may consider seeking novated car lease. Recently, novated lease has become the more popular means of driving everyone’s dream car, while leasing terms last. A novated lease is basically a three-way arrangement between the employer, an employee and a finance company. It is similar to renting a car for a period of time, which usually between 2 to 5 years. With this arrangement, the employer makes lease payment on your behalf from your pre-tax income for the duration of the lease. You are given the benefit of tax savings through salary sacrifice arrangements. You also get to pick the vehicle you want and freely drive the car for work or for private use. If you decide to leave the present employer, you have the option to own the vehicle by making the lease payments yourself. You can also ask help from experts over at Nationwide Auto Transport GA.

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