car loans adelaide

Purchasing a new car may feel like an onerous task to many, especially since the market is flooded with options and styles. In fact, it can be hard to decide which type of vehicle really suits your needs. Whether you are single, buying a family vehicle, considering a work vehicle or looking to purchase something a little different, we explore the different types of vehicles and why they might be the right vehicle for you.

What to consider before settling on a vehicle

The foremost factor to be considered is budget. How much are you willing to spend, and are you considering a new or used vehicle? It’s worth talking your Loana Lending Adviser to see how much you can borrow if you need finance.

Your next step should be determining the number of passengers you need to carry. If it’s primarily yourself, a hatchback or small sedan might be a good option. They’re economical and relatively inexpensive. If you are looking for a family car, you could consider a large sedan or SUV – depending on how much boot space you need. If you’re considering a vehicle for work purposes, you need to consider what vehicle best suits your business objectives, and it’s always worth talking to your accountant to see if there are any tax advantages to consider.

Finally, you may also want to consider the environment. Bear in mind that hybrid options have better mileage & lower emissions, and can also handle long commutes easily. But in case you are in favour of a green lifestyle, an electric car would be more than perfect. It’s worth doing some research if this is the way you want to go.

Now let’s have a look at the popular car options available out there:

Vans

Vans have always been ideal for larger families that need more seating. Even though these vehicles lack in abundant cargo space, they offer great comfort to passengers and generally are nice to drive. These days, vans can be quite luxurious with manufacturers such as Mercedes, Honda and Ssangyong making great family options. If you are looking for a work vehicle, or a delivery van, these can also be a great option.

Hatchback

Offering almost as much space as an SUV, this option packs in certain fuel-economy benefits too. Besides that, the latest hatchback models are far more innovative and stylish in design than their traditional peers. Being compact, they are generally easy to drive, efficient and cheap to purchase and run. If space is not a concern for you, a hatchback is likely the way to go.

Convertible/Coupe

Do you want your new car to make a style statement? Then your best bet is either a convertible or coupe, since they currently seem to have the most expressive designs. But be wary of the fact that their back seat has limited access, leaving them somewhat lacking in practicality.

Station Wagon

Though station wagons have a bad rap in the market for their body style, they usually offer greater cargo space and good fuel economy, whilst also being able to comfortably carry five passengers. Moreover, manufacturers are constantly introducing changes to optimise these vehicle options as per consumer requirements.

Sedan

If you’re looking for vehicle that has ample passenger room and decent boot space, then you should consider buying a sedan. These days sedans come in a range of different sizes, from compact to mid-size and large. Generally fuel efficient and easy to park and drive, sedans can be a great option.

SUV

If you’re looking for something you can easily get in and out of, as well as increased visibility while driving, an SUV is what you need. But be ready to spend more money on fuel, since SUVs are heavy, and their weight reduces fuel economy. As with sedans, most manufacturers offer a range of sizes of SUVs and it’s worth considering that the smaller versions often offer little more boot space than a hatchback. Saying that, many offer 7 seat options, such as the Captiva 7, Ford Territory and Ssangyong Rexton. If off-roading is something you like doing, SUVs generally offer a 4WD option.

Ute

If you’re looking for a comfortable workhorse, a ute is the way to go. They come in a range of different styles and sizes, from cab-chassis to pick-up (tub) options. You can generally choose either a 2WD or 4WD option and if you need to transport the family, most will come with a dual-cab model.

Whilst purchasing a new car can seem daunting, especially considering the various options out there, the best way to know if a car is right for you is to get out there and test drive some. When it comes to finance, talk to your Loana Lending Adviser so you have it sorted before making your final decision.

Australian Associated Advisers Pty Ltd trading as KeyInvest Lending Services, KeyInvest Insurance and KeyInvest Car Finance, Australian Credit License Number 392169 ACN 084 974 694. Australian Associated Advisers Pty Ltd is not authorised to carry on business in any country other than Australia. The information contained in this website is directed to and available for Australian residents only. Copyright © 2016 unless otherwise noted.

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