Many people will not consider buying a car without borrowing to pay for it. If you intend to borrow, consider the following:

  • the interest rates charged;
  • the amount of the loan repayments;
  • how much less you will be able to spend on going out;
  • whether having a car that needs financing is worth it;
  • any additional fees or charges that need to be paid above the interest charges; and
  • how long will you be paying it off.

Banks, credit unions, finance companies and other organisations all lend money. You can also organise a loan through the car dealer but generally you can find a better deal elsewhere.