Here you will find some helpful hints for making the right choice.
Buying your first, or any car is exciting. Doing it wisely could save you money when you buy and may cut down on your ongoing maintenance costs. We’re not car experts, but here are a few simple tips to consider when you are buying a car to get you started. Please make sure you do your own research into any car you consider buying.
Understand what you can get for your money and shop around for deals. Knowing what you should pay may help you negotiate a better deal when it comes to buying your car.
Take a look at some Automobile Association New Zealand car reviews here.
Check the Personal Property and Securities Register (PPSR) to make sure the car doesn’t have any money owing on it (you may become responsible for the debt if it does). Also, check it hasn’t been registered as a stolen car on the New Zealand Police website.
A little TLC for your car may cut down on maintenance costs and may keep your car running smoothly.
Once you have an idea of the car you might want to buy, here are some options you can consider for paying for it.
If you have the time, saving for your car will mean you have the money and you won’t be paying any interest, so it will cost you less. We can help you towards your savings target with the right ASB savings account.
We have some great tips to help you save; you can even name your ASB savings account “new car” to help keep you focussed on your savings goal.
Check out some great savings ideas at ASB money tips.
If you already have a home loan with ASB, one way to finance your car might be to apply for a top up to your home loan and use the money to buy the car. Your top up will be secured by your house and you’ll enjoy ASB’s competitive home loan interest rates.
An ASB Car Loan is an easy and flexible way to finance your car purchase. You can choose the amount you’d like to apply to borrow, make extra payments and pay off early with no penalty. Our interest rates are competitive too. You might also consider combining your saving and a personal loan to pay for your car. Please note, loans are subject to our lending criteria and approval, as you’d expect.
Going to a dealer or seller with “cash in hand” may put you in a better bargaining position and you may be able to negotiate a discount on the asking price.
To avoid fines, remember to stay within the conditions of your licence. For example, if you have a restricted licence, don’t drive without a supervisor after 10pm, or at any time with unauthorised passengers.
Car accidents are unexpected and can be expensive. Make sure you have car insurance in place to protect yourself and your vehicle, should the unexpected happen.
ASB’s lending criteria, terms and fees apply.