The fourth generation Vauxhall Corsa is undoubtedly one of the best cars on the market today. It’s Vauxhall’s most popular car in the UK, and is also a model that is used by hundreds of driving instructors, making it a popular choice for first time buyers. If you’ve decided to buy a Vauxhall Corsa, however, you may be struggling to afford to purchase it outright. Luckily, we’ve come up with a few tips that can have you driving your car home in no time at all.
Photo by RL GNZLZ
1. Weigh Up Your Options
You have a lot of options available to you when buying a new car. You could opt for hire purchase or a personal credit plan, you could get a loan from a bank or building society, or you could take out a finance deal with the dealer. The interest on all of these options will vary so take the time to shop around. You may even find some garages offering 0% finance deals if you can put down a hefty deposit, which is great if you can afford it. Keep in mind that the higher deposit you can afford to put down, the lower your monthly repayments will be.
2. Set Up a Savings Plan
If you’re still taking driving lessons, or if you currently have a car that is roadworthy, consider setting up a savings plan. Give yourself a set number of months to save for a deposit, and work out how much you need to save each month to reach the required amount. Don’t set an unachievable target for yourself – yes, buying a car outright is the cheapest option over time, however it’s not something that most people can afford to do. By using an online savings calculator, you can work out how long it will take to build the deposit that you want.
3. Open Up a Separate Savings Account
If possible, open up a separate savings account for your Corsa. This way, you won’t be tempted to dip into it if something unexpected comes up, and you can keep track of your goal. An instant access account is best for people who are planning to buy a Corsa in the next few months, however if you are thinking of buying a car in a year or two, an ISA may be a better option, as you’ll get good interest rates on the money that you save.
4. Stay Motivated
If you have the time to save for a deposit, you will receive a much better finance deal, and enjoy lower monthly repayments. You’ll be surprised by how quickly your savings will grow, and every time you look at them you will be one step closer to buying your new car. Checking them regularly will help you stay motivated, and will spur you on to save even more money.
The Vauxhall Corsa has been a firm favourite with Brits for years, and it’s a top choice for a brand new car!