Car dealers in Auckland – us included – are gearing up for the holiday season, the time of gift giving! Whether you’re looking to buy a car for yourself with your hard-earned salary, or you’re buying a car as a present for someone else, we know this time of year can present a financial crunch at the best of times.

Thankfully, our three-months deferred car payments scheme can help. Check out how you can buy a car this holiday season and still have money to put gifts under the tree.

How do three-month deferred payments work?

If you choose a deferred payment scheme, then you’re signing a normal car finance contract with weekly, fortnightly, or monthly payments, but there’s just one key difference. Once your contract’s start date kicks in, you can pay less than your standard payments, or you won’t pay anything at all until the deferment period ends.

The length of your deferment period will depend on the dealership or finance company you make your contract with. Whether you pay a smaller amount each month or defer the payments altogether is also dependent on the company you sign with. At MotorCo, we can craft a plan to suit your financial circumstances, so you can still go Christmas shopping for your family and friends while getting a new pair of wheels.

For example, let’s say Ngamoe wants to buy a car for her teenage daughter as a Christmas gift. She could come to the MotorCo team and sign up for a three-months deferred payment contract with monthly payments through our easy pre-approved car finance program. She could choose to pay half the amount per month or defer the payments completely and only start paying in March (despite buying the car in November).

Some notes on deferred payments:

  • Your interest can accumulate over the period you’re not paying off your car loan. So, for example, you might pay 39 months’ worth of interest on a 36-month loan term.
  • The conditions will always depend on the finance company or dealership you’ve created your contract with! Always be clear on the terms before you sign the dotted line!
  • Some companies require a deposit on the vehicle for a deferred scheme, some don’t. At MotorCo, we do our utmost to find a way to get you those wheels in a way that suits your finances. So, if you don’t have a deposit, reach out anyway and we might be able to figure something out.

Why choose deferred payments this holiday season?

Going for a deferred payments scheme to pay off a car is usually the best move if you need a car now, but you won’t be able to reliably afford the payments for a few months. Towards the end of the year, this choice becomes more useful than ever.

This option might be for you if:

  • You have a job lined up for the New Year that will let you afford the monthly payments.
  • You want to have enough money to purchase this car and buy gifts for your family and friends.
  • You want to buy or gift the car over Christmas but want to save some money as a bolster before you start the payments.

And many other reasons besides! No matter your scenario, reach out to the MotorCo team and we’ll do our best to find the right car, the right finance plan, and the right arrangements for you.

Talk to the team at MotorCo about creating a deferred payment plan for your car finance

We’re always on hand to help you get the right set of wheels. Browse our online stock of vehicles or visit us in one of our car dealerships. You can also pick up anything from our wide range of car accessories in Auckland to complement your purchase. Reach out to us today!