Nobody buys a car empty-handed (you usually see such claims in the movies). You need to have some savings. After you have concluded that you need a ar, you then need to figure it out how you're going to fund or finance it.

Saving up a large down payment for a car can reduce the amount you need to borrow as well as the size of your monthly loan payments.

And if you're able to put away enough money to buy a car in full, you can avoid loan payments, and the interest charges that accompany them entirely.

A. SAVING FOR A CAR

Saving for a car involves determining how much you can afford, setting a savings goal, adjusting your budget to meet that goal and automating your savings.

The more money you are able to save, the easier it will be getting that first car. With enough money saved, you can buy the car outright or take advantage of a good car finance deal. Using your savings to buy your first car is fulfilling.

Salaried workers can commit to saving a percentage of their monthly salary towards buying their first car.

B. GLOSTAR MOTORS LOW-THRESHOLD BUYER REQUIREMENTS

Before we get into any details, kindly take note that we will not hand over a car to you without you paying a dime - never !! Notwithstanding the foregoing, we still have in place very flexible ownership terms, as compared to other sellers:

1. No to low down-payment requirement

2. Longer repayment periods

2. Low interest rates

C. CAR FINANCING COST

Cost may vary, but below are some of them when buying from us:

1. Platform or signup fee

This was previously free, but we have had to put in this 'small hurdle', to enable us rid our platform of time-wasters. If you cannot come up with this very small amount, you're obviously not serious and/or ready for car ownership and please don't contact us.

2. Applicable Down payment

Cars priced below GHs100,000 and buying from our own inventory currently don't come with any down-payment. However, if your appetite looks for a car above GHs100,000 you obviously need to have some decent savings to cater for this applicable down-payment.

3. Pre-Agreed Weekly or Monthly Repayments

You also need to figure how you're to make those pre-agreed weekly or monthly repayment amounts, before you get started with the car buying process.

4. Full Payment Costs

If you're making full payment option, you clearly need to have ready funds for the following:

1. Car price

2. Shipment Cost

3. Car Shipment Insurance cost

4. Export Country Duties

5. Ghana Entry Port Duties

6. Other cost involved in car registration for usage in Ghana (DVLA, Insurance, etc).

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RELATED PAGES

Eligibility Criteria

Buying Process

Risk Management

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