Vacations are always a great time to get out of the city and see something different. Whether you're traversing Australia's diverse landscape during the summer seasons or enjoying the country's cooler temperatures, you can choose from an amalgam of experiences to enjoy, engaging in both traditional and non-traditional adventures. Your next dream trip is just around the corner, and while your current vehicle may be reliable, you can't be sure it will hold up to the many excursions you're planning during the vacations.
One way to secure a reliable vehicle is to turn to auto loan providers, such as Latitude Finance, to get you the wheels of your dreams and make sure you have a great vacation. However, securing the right financing isn't the only priority - preparing for the trip is just as important. Your dreams of fun and peace of mind while traveling start here.
Let's take a look at some of the many ways to make the most of your next vacation by financing your ideal road trip vehicle.
Prepare a budget
Before you actually look for a vehicle, take the time to do an inventory to estimate how much you can spend. One of the ways to do this is to obtain your credit report to determine your debt-to-income ratio and credit score. After reviewing your credit report, add up all non-revolving credit expenses and other debt. Compare this to your income and you'll determine how much money you have available for expenses.
You're not done yet - when you're looking for a loan, you not only need to calculate your monthly payment, but also include additional expenses like car insurance, gas and maintenance costs. After estimating your monthly payment, add these costs and you've just calculated how much it will cost to buy and maintain a vehicle.
Research all financing options
When looking for a loan, consider options other than the standard dealer loan. While dealer financing can be convenient, interest rates tend to be a bit higher. Consider online financial institutions and credit unions for better interest rates.
Also, while modern society almost forces consumers to take on debt, there is something to be said for being able to provide a down payment. To gain an advantage when financing a vehicle, the larger the down payment, the lower the monthly payment and interest rate will be. Consumers benefit from making a large down payment.
Get roadside assistance
When purchasing a vehicle, check to see if roadside assistance is part of the financing agreement. These plans usually only last a few years, but they can be a big help if something goes wrong. If your dealership does not offer a roadside assistance plan, consider an outside organization. Typically, travelers benefit not only from the 24-hour assistance, but also from the many discounts offered to club members.
Find ways to save money
One way to ensure that you travel as long as possible during different vacation periods is to cut costs. First, avoid peak days and times to reduce hotel and restaurant costs. Also, look for special offers that you can take advantage of during your vacation. If you're planning a long stay at a resort, consider all-inclusive deals, which include meals in the hotel package.
Vacation Road Trip
Your vacation trip doesn't have to be encumbered by the typical drama of a road trip. Instead, enjoy the best road trip experience by securing affordable financing, shopping for great rates, making sure you have roadside assistance while traveling and cutting costs. Your dreams of a road trip paradise are possible, even on a mundane budget.