So you’ve finally hit some major #lifegoals—stable job, steady income, maybe even a family on the way—and have decided to ditch your old hand-me-down beater to purchase a brand-new ride.
It’s a purchase you’ve put a lot of thought into: You’ve crunched the numbers, asked around, visited our website, and probably have your top two models already. But even before you head over to the dealership, people are bound to say things to try and change your mind.
Before you think twice, remember that there are plenty of misconceptions surrounding buying and owning a brand-new vehicle. Let’s try to sort them out.
“Today’s cars aren’t durable like they were used to.”
Basically, your friend is telling you that brand-new cars are a pain to maintain because of their modern components. Frankly, as long as you make it a point to stick to your service and maintenance schedule, and don’t allow nagging issues to continue for long, things should be fine. And on the plus side, higher safety standards have made cars much safer than they were generations ago, so that’s worth considering, too.
“Your choices are going to be limited.”
“Instead of a brand-new car, why not consider getting a second-hand one?” This is a valid question many potential car buyers will often face. But the thing with buying a used car, you can't really negotiate on what options you do or do not want with the unit. With a brand-new car, you can choose to downgrade or upgrade models and variants, and find something that fits both your lifestyle and budget.
“Modern cars are thirsty.”
Like all drivers, you want to be able to save on gas. But if you think brand new cars aren't fuel efficient, you might want to think again. The fact is, many of today’s vehicles are relatively more efficient than their older counterparts as carmakers and engineers constantly work on more ways to squeeze the most out their engines. Some models also come with an ‘eco mode’ designed specifically to help you drive in a more efficient and fuel-friendly manner.
“Buying brand-new is like wearing a financial ball-and-chain.”
But only if you don’t have a financial plan set for it. Buying a brand-new car for the first time isn’t a decision to be made lightly, basically. Thankfully, this can easily be avoided through due diligence and careful planning.
What’s more, banks like BDO offer Auto Loan packages with low rates and flexible payment terms that makes financing incredibly easy to digest, guiding soon-to-be motorists through the car buying process every step of the way.
If you’re planning to buy a brand-new car soon, check BDO Auto Loan Calculator to have a better gauge on how much money you have to spend on getting that ride.
To apply for a BDO Auto Loan now, click here or visit the nearest BDO branch.