Car and loan are funny bed fellows, to say the least! They say by the time one finishes with the loan, the car gets finished! But, you can really act smart and get the BEST loan deals and also own the BEST DREAM CAR!

Drive your car, burn gas! Pocket a loan, pay through your nose! And swear your mind out if there’s a breakdown – for another deep hole has been dug inside your pocket! So before you enter the car loan market, follow the golden mean: ALWAYS EXPECT THE BEST BUT PREPARE FOR THE WORST.

But, to pose as a veteran, you should be at least aware of the basics. Don’t act like a novice. Be a smart gambler. It’s after all your hard earned money! So know the yardsticks. The following section will set the details straight:

• ABCs of new car budgeting;

One thing is for sure, though. You will have to shop smart for your dream car and pocket the best loan deal. Well, the market has many financers out to rope you in. Ensure you don’t bang your head later by falling prey to the glib talk of the first market representative you face.

The simple tips are:
First, check out the local best auto interest rates in your area. Then, check out in the amortization table. Next, hunt for other big fishes in the cut throat auto financing market. Remember: Patience pays! Never give a demo of your over-enthusiastic nature. Always read between the lines! Pose queries! The answers you desire will evolve by themselves. And clinch only that deal that satisfies your mind and pocket. This will really stand you in good stead in the long run. You can finally go for the car with less tension and enough dough still in your trousers.

There are four stages, viz., Introspection; Setting the Stage; Seller hunting; and Sealing the deal.

During the Introspection Stage, ask yourself the following posers:

1. What are my immediate needs?
2. Will only a new car help me meet my needs?
3. Would I be able to afford a new car?
4. How much down payment will I be able to make? (Remember, paying monthly bills for the loan taken – EMIs – is not a joke!)
5. Won’t a leased or a used car be the better option?

If your answers demand you buy a new auto then surely go for it! Now you are ready to set the stage for that dream car of yours. First set a budget and stick to it. Of course, it is often impossible to stick to a shoestring budget when it comes to a car. So, do maintain an exigency account as well. Also check out your credit score months before the purchase so that you get the best auto finance deal in the market. The net is the best means to rope in the different auto finance dealers. This seller hunting phase needs lots of patience, though. Always cross check the details with the rival companies. Sieve through and through the husk to get the rice.

While clinching the deal, ensure you are on the driving seat, figuratively as well as literally speaking. Only a satisfied mind can plod you to drive your car with an open mind.
Happy scouting!