The insurance for your car is going to be one of the most expensive costs that you will have to pay when you purchase your car. However, your insurance covers you if you get in an accident so you want to get the best insurance for your budget. For you I would recommend buying your insurance from Budget Direct as they have cheap yet good comprehensive car insurance. It will cost you approximately $1367 for one year depending on what car you decide to get. This insurance will only end up costing you $27.83 per week which isn’t really that much.

The running costs of your car will be the ongoing costs which you can’t avoid such as petrol, tyres, servicing and registration. First of all your petrol, since you drive around for work your weekly petrol cost might change quite a bit. Although if you want you might even be able to change your car over to gas which will have the cost of converting it over but you will save money in the long run because gas is about half the price of petrol. Your registration will cost you around $700. For this payment you are not able to shop around for the best deal because the government sets the cost. If you drive safe and are light on your brakes you will be able to keep the cost of your tyres down which you want to do because they are around $100 each. Each time you service your car it will cost you around $150 depending on what work needs to be done. It is very important to get your car checked at least once a year as if you don’t a minor problem may turn into a major problem and cost you a lot more down the track.

There are two on road costs that you will need to pay. These are Compulsory Third Party Insurance (CTP) and stamp duty. Stamp duty will cost you around $100 since your car will only cost you about $10000. Your CTP cost will be around $350. These two payments aren’t that big so they are not one of the most significant payments. If you buy your car from a dealer your third cost will be dealer delivery charges. This payment is to cover all of the administration work that the dealer does when they are selling you a car. AS you can see the on road costs that you will have to pay for your car don’t add up to very much so they are not a big investment o n your car. Shop around for the CTP to find the best deal as you may save some money.

When you have finally decided which car you want to buy and where you are going to get all of the running costs and on road costs from stop because you will need to find out where you are going to get your loan from. It may seem really simple o just get your loan from the car dealer but they usually have higher interest so you will need to find the loan that suits your budget. I recommend a loan from ANZ because they offer great service and the interest is low. They offer 3, 4 and 5 year loans that are able to be paid off either monthly or fortnightly. If you borrow $10000 the loan that is the best one for you is one with 14.99% interest (all of the loans have this amount of interest) that is paid of fortnightly for three years. The fortnightly amount is $161.83 with $250 due at the settlement of the loan. There is a total of $430 in fees during the loan period (the $250 is included in this total). Since the loan lasts for the shortest amount of time you end up paying less interest and less in fees. Paying the loan off fortnightly is also cheaper than paying it off monthly which is really good. Just keep in mind that the loan may be cheaper as it was calculated with a loan of $10000 so you may not need to borrow that much.

Other considerations include factor in include the car that you are going to buy, if you can really afford it at this time in your life, if the car is old how much will you have to pay to fix it up and if the car has lots of problems with it will you need to spend lots of money on it all the time fixing it up. If you find that you are unable to afford the car just wait a few years until you have saved up more money and are able to afford one. Before you buy the car ask the dealer or the person if it has any problems or has had any in the past just to see if you are buying a car that will end up costing you thousands of dollars more than what you expected.

If you wish to know any more information just search for some websites on the internet. There are some really helpful websites out there that give you a lot of information on cars and car related costs. Good luck buying your first car.