Car sales are big business in Australia, with around 95,000 new cars being sold each month. Then there are all the second-hand cars as well. So is it a good idea to borrow money for your set of wheels? There?s no absolutely right or wrong answer to that one and for a lot of people, particularly those saving for a home loan, or trying to pay their way through university, a car loan is going to be unavoidable. For others it might be a tax deduction.
If you are borrowing to buy though, here are a few tips to keep in mind:
Related Article: The right time to buy a new car
Choosing a car is fun – but make sure you put as much time and effort into choosing the financial products that you?ll need as well.
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