admin May 28, 2014 No Comments

Getting the money together for a new car to replace your old one can be tough enough, which is why shopping around for a good personal loan is a real must. But what about when you don’t want to replace your old car but get a second one?

With a second car, you have to ask yourselves a few questions and think hard about your budget. If you’re still paying off Car #1, will you have enough in your pay packet to meet the repayments for two cars? Have you factored in that you will now need to pay for two registrations and two sets of repairs, not to mention extra petrol? It really pays to do your homework and have a good hard think. If you have already paid off one car, it might be easier to (a) get a loan for a second car and (b) make the necessary repayments.

As an aside, if you already have one car that you like and want to keep but your boss is offering you a novated car lease as part of a salary package, you might want to consider whether or not you want to use this offer to get a second car.

No matter what your situation  raising a personal loan or getting a car through a salary package scheme  you may want to ask the question whether you actually need a second car. Let’s face it: there is only so much petrol in the world and only so much space on the nation’s roads, and we all need to do our bit. On the other hand, some situations may require two cars.

So how do you decide on whether you should get one car or two? Here’s a handful of questions that you might want to ask yourself.

  1. How many people in your family? What are their travel needs? If Dad is on the road a lot and/or the kids do a lot of sport or other out-of-school activities, a second car is a bit of aIf there’s just you and you only travel to work, the mall and the movies (and maybe the beach), then you might not need a second car.
  2. Where do you live? If you’re out the back of beyond, it’s never wise to leave a family member stranded with no means of transport to the doctor or the nearest neighbour while you’re off in the only
  3. What sort of trips are you likely to make? If they are all shorter trips and don’t require much gear then you might be able to get away with doing the trip by bike or by foot.
  4. What is the public transport in your area like? If it’s possible to get to school, work or the shops (or even the doctor) by bus or train, then maybe a second car isn’t needed (OK, the bus may cost a bit but you’ll save on parking and maintenance).
  5. Do you have to take a lot of gear with you?

There are no quick, pat answers, and only you can decide what’s best for your family and your needs.

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