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The Full Cost Of A New Car In Freelton

The Full Cost Of A New Car In Freelton

Buying a new car can be an expensive business but do you know the full cost of a new car? If you’re planning to buy your first car or have been driving company vehicles for a while, it’s easy to forget.


That’s what today’s post is about. Our Freelton car loan team have put together a quick guide on the full cost of your new car.


We don’t want this to put you off, far from it. We want to put you fully in the picture so any decision you make on car loans or purchases is made with full

ownership of the facts.

We find people end up much happier with their decisions that way!


Total price plus


There is more to the price of a new car than just what’s on the sticker or what you managed to negotiate.


You still have to pay sales tax, title fees and registration fees. If you opted for an extended warranty or optional extras, you need to add those too.


Down payment


While not mandatory, a down payment is the recommended way to get a car loan in Freelton. It helps lower the overall loan amount, the monthly payments, and widens the pool of lenders willing to work with you.


Fortunately, this isn’t an ongoing cost, just a one off but if you plan on upgrading the car at some point, there will come a time when you need to factor in saving for the next down payment.


Running costs


Cars come with running costs. The newer the car, the lower those will be to begin with. You need to factor in auto insurance, gas, maintenance, servicing and parts as the car is used.


Most new cars will come with free servicing and parts to begin with but that won’t be forever.


Monthly costs


Depending on how you pay your insurance, you will likely have monthly costs to pay. This will predominantly be made up of your Freelton car loan. The loan amount will be a combination of the principal amount, the amount you borrowed to buy the car, and interest.


To begin with, you may be paying more interest than principal. It depends entirely on the type of loan you have.


If you elect to pay insurance monthly, you need to add that to the car loan amount.


Clearly, there is a lot more cost involved in buying a new car than the sticker price. While this is largely the same whether you buy new or used, from a dealer or privately, you need to be fully aware of what you’re letting yourself in for.


You should also factor in these costs when you’re experimenting with car loan calculators. Most of them won’t include those extras, which could leave you short at the end of each month. Unless you do it yourself!


Contact Unique Chrysler for help, advice and competitive car finance in Freelton.


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