What you should know

Buying a vehicle for the first time can be very scary, so many questions so many options. Before taking any steps or decisions, consider the following tips.

•  The financial implications : make sure that your budget to purchase a vehicle INCLUDES your ability to pay for the insurance.

•  The cost of insurance : REMEMBER , your car insurance premium increases with the price of the vehicle you have opted to buy. Never choose a higher excess and lower premium , at claim stage it will become a massive bill.

• If you can, always pay as large a deposit as you can on a car : simple, the higher deposit you pay, the less your monthly instalments will be!

• Think about the possibility of interest rates increasing : If your bank offers you the opportunity to fix your rate, consider this option. It will cost you up to two percent above the going rate, but will provide you with financial certainty.

• Consider leasing a vehicle

• Consider your repayment period carefully