How to choose a car loan 

that's right for your family.

What is your family like? Every family - from multiple kids to single parents, and those just starting out to families with kids off to university - have something in common.

They've got to get everyone where they need to go! There's no doubt about it, being a parent keeps you on your toes, so there's not always time to ask yourself if your current car loan is working for you, let alone sit down and review the specifics.

But that's why we're here! Check out our car loan guide on how to pick the right option for you. We're going to break down the various types of loans and give you some pointers on how to select the option that best suits your family's financial situation and lifestyle.

Let's start easy. Deciding on the right car loan doesn't begin with breaking down loan terms or budgeting, it's just about figuring out the type of car you're going to need! Ask yourself what your family needs - is it a heavy duty people mover for your growing family? Or a cosy car for zipping around town on the weekends?

Make a list of what you absolutely need in a car so you can narrow down your options once it comes time to shop.

Now it's time to make a budget so you can better assess the type of loan you'll be after. Every budget begins by evaluating your annual income, as well as your regular expenses such as mortgage or rent, monthly utilities and bills, and the amount you spend on things like groceries. Essentially, you need an idea of how much you absolutely need to pay each month so you can make these payments without sacrifice once you buy the car.

To help you calculate these basic costs, use our handy loan repayment calculator - you can easily toggle through the settings until you find the loan repayment plan that works best for you.