Whether you’ve just had a new baby or the kids start to lug around a huge sports bag, your family can very quickly outgrow your car. But rather than squeeze things in or leave someone at home, why not invest in a larger vehicle that suits your ever-changing family.
Before you sign on the dotted line though, take note of the following seven things :
1. Set yourself a budget and don’t budge on it
It’s easy to lose the run of yourself when you’re surrounded by wonderfully new and shiny cars, but keep it together! Sales people, obviously, want you to spend a lot of money and will try to sell you every accessory possible, and it can be hard to say no. However, if you set yourself a budget and go in with it firmly planted in your head you should avoid buying something you really don’t need – like those red-rimmed alloy wheels...
2. Be realistic
Ask yourself what you need the car for. There is no point buying a big off-roader if you’re not going further than the school but if you plan on doing some travelling, you’ll have to go for something bigger than a run around. Sit down and write a list of what you need, such as a large boot, and what you’ll be using it for and go from there.
3. Think about the long term
Are you planning on having more children or will you be doing car pool in the future? While these things may seem insignificant when your kids are small, you don’t want to go through the hassle of buying another new car in a few years because you’ve out grown this one again.
4. Take out a loan
There is no point buying a car that won’t last just because it’s cheap. Many people want to avoid the stress and hassle of taking out a loan, and will use what monies they have and hope for the best. However, permanent tsb have made taking out a loan simple by offering full approval in just three hours*. Unlike other hire purchase or personal contract plans, they don’t have additional mileage restrictions and you can borrow anything from €1,500 to €75,000.
5. Get a car history check
If you are going down the second-hand route, make sure you run a history check on your chosen vehicle before you buy. This way you’ll be 100% sure of what you're getting including whether it’s an import, has been clocked or written off or is under finance. If you decide to take out a loan, permanent tsb will do this service for free with full approval from motorcheck.ie.
6. Don’t rush your decision
Buying a car is a huge financial commitment and should be approached with care. No matter how many times to dealer says their special price you will be gone tomorrow or how desperate you are for a new car, take your time. When you do finally decide on one go to the dealership a few times before handing over any money.
7. How much will it cost you to run?
When you do decide on the type of car you want, make sure you consider the monthly cost. Motor tax, insurance and how much you’ll spend on fuel depends on the type of car you buy, and it can increase significantly without you realising. Check the price of tax and give your insurance company a ring before making your final decision.
To apply for a car loan with permanent tsb, simply call 1890 500 165 and a team member will process your application or, alternatively, drop into any branch to have a chat with one of their advisers. If you are already a permanent tsb customer log on to Open24.ie and apply now.
*If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
