"I have $50,000 in savings and I am tossing up whether I buy a new car and keep my job, or buy a business. What would you do?" Car finance is the key.
A friend recently asked me this question and my reply was "both!" Car finance is the key. Using car loan means my friend, let's call him Jason, can have the best of both worlds. Jason is 24, working in a dead-end job and driving an old car that barely scrapes through a roadworthy. He really needs a more reliable car, but the lure of a more fulfilling career is weighing on mind. So what are Jason's car finance options:
Car finance option 1: Jason can buy a new car for $50,000. He can even use 360 Financial Services to help him find a car with their free car finder service, so he might get some change. He won't need car finance so he won't pay any interest, but he will be stuck in his dead-end job.
Car finance option 2: Jason can buy a new business for $50,000. He can afford a panel beater or a small café business. He can earn himself an income and he certainly doesn't need car finance. However with this option he is still running around in his hand-me-down bomb – not a good look for a business person!
car loan option 3: Jason uses car loan to purchase the car using a small deposit of $5,000 and buys a new business for $45,000. Using car finance has meant he can still afford to buy a business which he can earn income from to offset the interest. Because Jason will use his new car for business purposes, he can look at car finance options such as leasing and hire purchase which could further reduce the need for a deposit on his car finance.
Car finance option 4: Jason can use car loan for a car, and could supplement car finance with a personal loan to widen the opportunities for the purchase of a business, enabling him to earn even more.
A trained 360 Financial Services consultant can help you with your car loan options. 360 Financial offers a huge range of car finance options and guarantees they have the best interest rates on car finance. Contact 360 Financial Services about car finance today.
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