Buying a car – Take a minute with your money

Buying a car. How to get the best deal on a car and on your loan. (sings) Take a minute with your money. Hey cuz, you should get a flash new ute. With your deadly new job you can afford it. I can see us now, stylin’ up around town. Yeah but I only need something to get to work…and maybe take the mob on that fishing trip. Morning fellas, I’ve got just the car for you. This one is perfect. I can do some special extras as well: tinted windows, a bull bar, roof racks. And with a car like this you’ll be wanting to add all the extras, loan protection, gap cover and tyre and rim insurance. I can sign you up for the loan

right now. Hold up Bub! Give me this here! Don’t sign that yet. Take a minute with your money ’cause getting ripped off ain’t funny. But Aunt, that fella said this deal’s only good for today. I’m taking you boys to have a yarn with your Uncle Bob, He’s a bush mechanic from way back and he knows what he’s talking about. Hey you mob, don’t let that fella pressure you. You better listen up. When getting a car, there’s three things you need to remember. Only buy a car that you can afford. Work out what your budget is and stick to it. Them fellas at the car yard might try and sign you up for things you don’t need. Those extras can make that car cost too much. Shop around for the best loan. Double check the deal and know how much you are paying. You spend plenty of time trying to find a flash car so why not do the same with your loan? You boys remember, you got a lot of options.

There’s all sorts of loans you could get, maybe from the bank, a credit union or you can save up but remember… …the higher the interest, the more money you’ll have to pay in the end. Interest rates are like croc bites, the closest to zero, the better. Check the condition of the car. I know a thing or two about cars, I’ll come and have a look. If you don’t get someone to look under the hood, you could end up with a car that turns out to be no good. Hey bruz, I got my loan from the bank and I know which car I’m gonna get and I don’t want none of your added extras. Thanks Aunty B and Uncle Bob, with all the money I save I can afford to take you on that fishing trip. If

you’re having problems buying a car, or making the payments, there are people who can help. Go see your local financial counsellor, lawyer or financial capability worker. You mob might know these as money management workers. You can also visit ASIC’s MoneySmart website for more money tips or call ASIC’s Indigenous Help Line on 1300 365 957.

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