step 1

Know the costs involved

It’s easy to get a little too excited when you decide to buy a car, and to rush into the process as a result. So before you start visiting car-yards, take some time and consider how buying and owning a car will impact your finances.

  1. You should also know that the type and size of your car will impact your registration costs. Generally, smaller, less powerful cars will cost less to register than high performance vehicles.
  2. Bear in mind the ongoing costs of ownership. Will you be able to afford to fuel and service your car in order to keep it on the road? If your car were to break down or need repairing, can you afford the servicing costs? Typically, European and high performance cars will require more expensive parts and servicing fees.

Once you have taken this all into account, you can look for your car with confidence.

step 2

Use the tools at hand

With your price range in mind you should start thinking about what you need from your car, as well as whether you want to buy a new or used car.

If you are in the market for a new car, you should be thinking about things like on-road costs, what comes standard with the car, whether the price is negotiable, and how long the warranty will be.

If a used car is more your style or suits your budget, there are some key questions you need to ask before buying. For example – how many kilometres has it travelled, what has it been used for, are you able to get a full service history, and are you able to have an inspection performed?

Once you’ve taken all this into account, you should use the tools available to you to find the right set of wheels. Online sales and comparison sites will allow you to price each and every car, as well as view service history and much more.

step 3

Pay for your car

Buying a car can seem like a huge investment, especially if you’ve never bought one before. But paying for your new car shouldn’t be daunting at all. There are numerous of ways this can be done.

  1. Find out more about Bonus Saver

    You might feel that you can wait and save enough money to pay for your car outright. If so, the best way to do this is by taking advantage of a high-interest savings account, like The Greater Bank Bonus Saver. If you're under 25 our Life Saver account is also great for this purpose.

    Bonus Saver

  2. Find out more about our Personal Loans

    Another way to pay for your car is to get a Greater Bank Personal Loan. This allows you to buy your car now and then pay it off in instalments. 

    Personal Loans

step 4

Hit the road

Once you have finalised payment for your car, there may still be things to consider before driving off into the sunset. It is important to account for these costs when saving or arranging your finance.

You will need to pay stamp duty on your new or used vehicle – this is a percentage of the purchase price that goes to the government.

  1. Get a CTP Quote online

    You will also need to pay for Compulsory Third Party Insurance before driving away. This is simply cover for injury or damage caused by the driver of your car.

    Car Insurance

  2. Get a Car Insurance Quote online

    You have just completed the purchase of a large investment, so protecting it against any damage is wise. That’s why it’s a condition of our car loans that you must have full comprehensive insurance in order for us to approve the loan. Insurance through Greater Bank will give you peace of mind when you’re on the road. 

    After this, take your keys in hand, adjust the mirrors and head out onto the open road.