Getting a car loan approved is very exciting but with that new car comes a new financial responsibility. Before applying for a car loan, make sure that you are prepared for it. Fees, charges and maintenance costs can be a burden if you are not prepared for them. Lenders are obligated by law, to determine your financial capability but you can try and check it for yourself using the tools below. Budget planner What is does; Shows you where your money is going. Allows you to determine if you have enough money for a new car loan. Allows you to determine areas where you can save money. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/budget-planner Savings Goals Calculator What it does; Shows you the time needed to reach your savings goals. Enables you to plan your finances to achieve your goals. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/savings-goals-calculator MoneySmart Cars App What it does; Allows you to determine the cost of buying and owning a vehicle. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mobile-apps/moneysmart-cars Money Health Check What it does; Lets you know if your finances are under control and suggests steps to take in order to improve your finances. https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mobile-apps/money-health-check Vehicle Loan Calculator What it does; Allows you to calculate your estimate monthly repayments. http://www.freeloancalculator.com.au/ Companies You Should Not Deal With What it does; List companies and individuals who are not licensed by the ASIC. These are the companies or individuals who call or email and offers investment opportunities or a loan. Check this list before dealing with any finance company. https://www.moneysmart.gov.au/scams/companies-you-should-not-deal-with PPSR Motor Vehicle Search What it does; Allows you to check if a used car is in danger or repossession. https://transact.ppsr.gov.au/ppsr/QuickVINSearch Preparation is the key to success in all things including getting a car loan. Once you know your financial capabilities, you will be confident enough to apply for the car loan and confident enough to own and enjoy your new vehicle.