Car Finance Sydney – Penrith – Melbourne – Geelong – Ballarat – Bendigo. We can provide you with low rate Car Finance which means low monthly repayments. Call 1300 256 267 and speak with one of our friendly staff today.
I’d like to explain how the process of a car loan works so that you can understand how long it would take you to get your car loan sorted and the car delivered.
Firstly. arranging car finance can be time consuming with research to do, quotes to compare, questions to ask, submitting the application, and more. Most people approach car finance for their car as a chore as the finance process can be tricky and because it is hard work. It’s very important to remember that you must get it right, because making the wrong choice about which finance you choose can be both expensive and time consuming. I will explain the process in an order that should be easy to follow and simple to understand.
You must do research for Car Finance:
So, you want to buy a new car and require finance?
Where should you start – start by doing some research: read the information available on websites, speak with a specialist car loan broker and even talk to your accountant, family and friends – someone you can trust. The important points at this stage are to find out what’s on offer, and figure out which finance structure is right for you. Go to the Aussie Loans website and check out our “Loan Calculator” – this is a great tool to work out how much you can borrow and what the repayments will be either monthly, fortnightly or weekly. The site has some important tips as well plus gives you an idea of some of the areas that we operate in with car finance Sydney – Penrith – Melbourne – Geelong – Ballarat – Bendigo.
The wrong finance structure can cost you, so make sure you get the right advice from people who get the job done professionally. We will get you a great deal – that’s what we do.
Get some repayment quotes:
Once you know the finance product that is right for you and have some idea of the loan term and the amount you want to borrow, the next step is to get some quotes.
There are many finance for you to choose from including banks, finance companies, finance brokers so do some internet research or ask for some recommendations. Getting an online car finance quote can also be a convenient way to get some initial figures. Once you have your list, give each company a call, explain your situation and what you want, then ask them to put together some options for you. Get the quotes in writing, including the interest rate, information about retained interest & payout penalties and all fees & charges – both for your protection and so you can compare them later.
It is very important to talk to an experienced car loan broker – like Aussie Loans – when organising your quotes, as they have access to a wide range of different lenders and wholesale rates. This saves you a lot of time as it provides you with access to a range of quotes and comparisons without having to contact each finance company individually.
Now – which loan do I pick?
An experienced Car Loan Broker can be of great assistance at this stage –
The next question is: how much does each quote cost you per month? While this is a fairly simplistic way of comparing the dollar cost of your Car Finance quotes, it does not include any upfront fees, termination fees or retained interest and payout penalties, it is still better than comparing the quoted interest rate alone.
Car Finance – Comparison Rates and Interest Rates:
A comparison rate is the interest rate of a loan, taking into account the cost of any fixed upfront fees, ongoing fees and termination fees. Legally, comparison rates must be quoted for all consumer car finance packages, but this requirement does not extend to business-related finance packages.
Having the Interest rates is important with comparing quotes. It also seems easy to compare – but so is knowing the term of the loan. A low rate over 7 years may not be as attractive as a slightly higher rate over a shorter term – of course, the interest rate must be considered, but don’t fall into the trap of using interest rate alone to compare your options. Comparing comparison rates, monthly repayments and other loan features can give a much clearer picture of what a particular finance package actually costs you – more on this later.
Car Finance Sydney – Penrith – Melbourne – Geelong – Ballarat – Bendigo can give you a comparison rate on request – please advise the amount, term and type of vehicle that you require and we will provide the rate.
Associated Fees & Charges
Fees you may encounter include an upfront establishment / settlement fee, ongoing monthly account-keeping fees. Finance companies charge a range of fees as part of their finance packages, and these will differ from lender to lender – so take this into consideration.
Customer Service & Advice
This final point isn’t directly related to cost – at least not in a dollars sense – but it is important: what is the company behind each quote like?
Do the financiers provide you efficient one-on-one customer service (including ongoing service), or when you call them, do you have to wait 10 minutes on hold to speak with them and do you in turn talk to a different person every time you call?
These are important factors, as anyone who has had to deal with a frustrating call center can attest. Aussie Loans can proudly say that our service is considered to be industry-leading, all of our staff have years of experience and are experts at what they do and we work to find the best deal for our customers.
If you’d like to know more we’d be delighted to hear from you – send us a quick online enquiry or call us on 1300 ALOANS (1300 256 267).