One of the greatest concerns when getting a car is the cost. People often view cars as a financial liability and a luxury item that are unattainable during an economic downturn. Singaporeans are constantly worried about the down payment and how expensive it is to maintain a car in general. However, what if you are in a situation where you really need car urgently to get around like in a situation where, for example, you have a sick family member to ferry around? It is possible to get a car during times of financial difficulty. We are saying that it is possible, but we don’t guarantee that it will not be tough in the long term.

Need car urgently? First, find cars with an open mind!

With limited cash, you have to understand that you won’t have the privilege of choice. Beggars can’t always be choosers! By default, you will be faced with limitations and few choices. Therefore, it is time to be a compromising person! Try to find the best deals by considering all possibilities and weighing your pros and cons.

Want that car but can’t afford brand new? Try getting second hand instead.

Want to get your dream car but can’t afford it? Why not try getting a second hand car instead? If you are fortunate, you may find one in mint condition where the previous driver rarely used it. Even better, there is a possibility of getting one with 5 years left. Getting a second car can also be a short term solution to tide over this tough time.

Thanks to LTA, we now have to pay an average of 50% down payment, however some loans allow 30% down payment

As the saying goes, when there is a will, there is a way. If you really need car urgently, you can consider getting a higher loan. Dealers offer 90% loan under “high loan”.

Never settle on one offer by one dealer

There is seriously no harm “cross-shopping” (going to different dealers to find the best buy). Go around and find the best buys, don’t settle! There is no harm telling the dealer that you have better offers from other dealers and see what better offers they have in stall for you. It is a competitive world out there and the buyer has the final say, why limit your choices?

Don’t be scared to negotiate

However, please be reasonable. Don’t make others frustrated too.

Image Credit: Confuse