Buying a car for the first time is an exciting experience, specially if you have been yearning to get one for some time. Owning a car fulfills many purposes such as easing day to day commutation, simplifying weekend getaways and so on. It also gives us confidence and a sense of accomplishment to name a few fulfillments. A Filipino is literally spoilt with choices when it comes to car with so many brands and models. Most of the international brands find a place in the Philippine auto market. From luxury sedans to hatchbacks, we have them all. If you’re buying a car for the first time, efforts should be do a through homework before deciding a particular brand or a model. Let's talk about some of the most common things that goes into making your experience a delightful one.
Choose Your Car Wisely
The best means of researching further in this regard would be to consult friends and family who have good experience owning and driving cars. They can provide the best and unbiased advice since you’re known to them. Also, look up for resources and tips on the internet. On the basis of your initial research, you can zero down on the brands and approach the dealerships to inquire further.
Decide The Type of Car
Once you have the basics in place, the next step after visiting a few dealers of your choice would be to make a final decision in this regard. Depending on the affordability and utility, decide the type of car you want. For small families, a hatchback or a small car will be good enough to begin with. If you intend to make commercial use of the vehicle, an AUV would be the ideal answer. Make a list of cars from the category and compare key features that really matter to you.
Explore the Finance Options
It may not be feasible for all of us to fund the costs involved upfront on the basis of our personal finances. In such cases, a car loan would do the trick. Nearly all major banks and financial institutions in the country offer this loan as a part of their retail lending portfolio. It finances a large chunk and lets you pay back in monthly payments at affordable rates and terms as per your convenience. Look for information online, over a competitive comparison site for details on the loan. Choose a bank or two that you would like to apply with an approach them with the required details.
Negotiate The Loan Terms
You may also want to check with the dealers for financing options. Most of them maintain exclusive offers either by means of in house finance companies or by the way of tie ups with banks to offer you the most pleasing rates and terms. You may also want to negotiate key terms in your favor such as the interest rates, reduction in the processing fee charged and the loan term. Banks do welcome a certain level of negotiations as long as you meet the eligibility criteria and come with a good background credit.
There are many such hidden facets that can make your first time purchase an experience that you will cherish for a long time. Explore such minute details and bring them to the table of scrutiny.
Want to take Car Loan in Philippines? Visit BankBazaar.ph
Choose Your Car Wisely
The best means of researching further in this regard would be to consult friends and family who have good experience owning and driving cars. They can provide the best and unbiased advice since you’re known to them. Also, look up for resources and tips on the internet. On the basis of your initial research, you can zero down on the brands and approach the dealerships to inquire further.
Decide The Type of Car
Once you have the basics in place, the next step after visiting a few dealers of your choice would be to make a final decision in this regard. Depending on the affordability and utility, decide the type of car you want. For small families, a hatchback or a small car will be good enough to begin with. If you intend to make commercial use of the vehicle, an AUV would be the ideal answer. Make a list of cars from the category and compare key features that really matter to you.
Explore the Finance Options
It may not be feasible for all of us to fund the costs involved upfront on the basis of our personal finances. In such cases, a car loan would do the trick. Nearly all major banks and financial institutions in the country offer this loan as a part of their retail lending portfolio. It finances a large chunk and lets you pay back in monthly payments at affordable rates and terms as per your convenience. Look for information online, over a competitive comparison site for details on the loan. Choose a bank or two that you would like to apply with an approach them with the required details.
Negotiate The Loan Terms
You may also want to check with the dealers for financing options. Most of them maintain exclusive offers either by means of in house finance companies or by the way of tie ups with banks to offer you the most pleasing rates and terms. You may also want to negotiate key terms in your favor such as the interest rates, reduction in the processing fee charged and the loan term. Banks do welcome a certain level of negotiations as long as you meet the eligibility criteria and come with a good background credit.
There are many such hidden facets that can make your first time purchase an experience that you will cherish for a long time. Explore such minute details and bring them to the table of scrutiny.
Want to take Car Loan in Philippines? Visit BankBazaar.ph