Purchasing a new car can be an exciting time for any type of buyer. It may be your first car or your tenth, and sometimes even those with experience may feel overwhelmed, especially when all the other costs associated with a new car purchase start rolling in.
iCREDIT is your choice for auto finance in Brisbane, and we are in the business of financing solutions. This allows us to understand what the buying process looks like for you and we can help you understand what to expect after your purchase.
Sometimes buyers are distraught with all the unexpected costs that they find themselves with. Unfortunately, this usually occurs when buyers do not do due diligence before signing on the dotted line. There are several costs that you need to be aware of that can majorly impact your purchase and financing in the future. We break down these in this article.
Vehicle Price And Registration Fees
The purchase price is usually the upfront price advertised for the new car. Car dealerships and private sellers will always be transparent about the purchase price. But attached to that are your registration costs. This follows local regulations in your area and has to be paid for.
Insurance Premiums
Insurance is always advised with every vehicle purchase as it helps you cover damages, repairs and accidents. It is also a monthly cost that you need to factor in when buying your vehicle. New cars usually have higher premiums, whereas older second-hand vehicles are cheaper. Although not a necessity for many, roadside assistance is a beneficial addition and can be a monthly fee too.
Ongoing Costs
Buyers sometimes neglect to consider the cost of petrol and road tolls into their purchase. Fuel-efficient cars can be cheaper on your wallet. You should also remember, new cars perform better when serviced regularly and you should keep some funds aside for new tyres and accessories.
Buying a new car can be a quick, simple process once all parties are aware of what the transaction entails. It is never just a once-off purchase price cost, and once you have budgeted for all the other associated costs, you will feel more confident in your decision. Once you are ready to buy a new car, we can assist with your auto finance in Brisbane. Speak to one of our expert financial consultants today to see how we can help you.
