When you apply for a car loan – or refinance a car loan – your credit is of the utmost importance. Alongside other factors, such as your financial circumstances and your employment situation, your credit provides information vital to potential lenders, helping them to determine whether to approve your application – or decline it.
But, while you will need a worthy credit score to get approved for a car loan, what you may not have considered is how making that … Read more
Striding confidently into 2022, you may be considering changes you’d like to make to ensure this year is better than the last – which, given the general vibe of 2021, shouldn’t be that hard.
So then, let’s talk car loans and how you can change yours for the better.
If you have a car loan currently, you may be able to get a better deal by refinancing. In this post, we’ll look at what it means to refinance a car … Read more
While it can be somewhat tricky to sell a car that’s under finance, it is possible. What makes it so tricky exactly? The fact that the car is under finance means it does not fully belong to you. It belongs to the lender, which means you will need to pay out the loan – alongside any fees the lender chooses to apply – before you can sell it on.
In this post, we’ll get into everything you need to know … Read more
As you compare car loans, you’ll notice that there are two rates attached to each loan, namely the advertised rate and the comparison rate. While both of these rates are important, the comparison rate will likely be of most use to you as you start your search for the best car loan, as it will allow you to quickly compare options side-by-side, to narrow the field to a more manageable selection.
So then, what’s the difference between the two rates? … Read more
You’ve been looking at cars, wondering just how much you can afford to spend. You know you want to use a car loan to buy the car, but you’re not sure how much you can afford to borrow. So, what should you do?
In this post, we’re going to discuss the various factors that will affect the cost of your car loan and its affordability, to then look at how you can choose a car loan that will best suit … Read more
In Australia, the average price of a car is well over $25,000. With the high cost of living, this is not an amount many Aussies can fork out at once for a car: remember the average Aussie saves around $5100 per year so that would take a good 5 years to save up for new wheels! Well, thanks to car loans, many can get financial help to buy their desired vehicles right away.
Now before applying for any loan, it … Read more
It’s exciting to buy a new car, particularly when it’s your dream car. But finding the best price is just half the battle; you need to find the best car loan to finance the purchase.
Whether it’s a secured or an unsecured loan, you’ll need to sift through plenty of options to find the best rate. Secured car loans tend to have rates of 5% to 10% p.a., and your car is used to guarantee the loan. Unsecured loans have … Read more
With so many different providers and finance options to consider, choosing a car loan is often as hard as choosing the actual car. While it might seem straightforward at first glance – find a car loan with the best interest rate and apply for it – the process of getting the best car finance often means asking a lot more questions.
First, you have to consider what type of car loan to get. Do you need a used car loan, … Read more
Whether it’s a change in lifestyle, accident damage or a great sales deal, there are times when changing cars is a major priority. But what happens if you want to get a new car when you’re still paying off your old one?
When you first take our a car loan, you sign a legally-binding contract and agree to pay back the full amount, including interest and fees specified in the product disclosure statement. That means you will have to deal … Read more
If you’re looking for an alternative to your local car dealership for an auto loan, it can be tempting to go to the bank you normally work with. This can be a good option, as it’s convenient to have your loan with the same bank where you have your credit card, checking account, and savings account. But if you don’t shop around online first, you could be missing out on a great deal. Here are a few reasons you should … Read more
There are a lot of good reasons to consider going with an online lender. Many online lenders offer fast quotes and lower interest rates than your average brick-and-mortar bank, making it easy to shop around and get a good deal. Online lenders give borrowers many more options than the bank where they have checking and savings accounts.
But online lending is still relatively new—and it’s especially important for customers to be able to trust the banks with which they do … Read more
If you’re looking for a car loan, you have a few choices as to where you get it from. There are several different types of lenders, and each has their benefits and drawbacks. Here’s an overview of the typical options you’ll have—and the pros and cons of each.
Financing Through a DealershipDealers sometimes give good deals. But they also make commissions off loans. Some car salespeople will tell you that it’s the loan, not the sale of the car … Read more
Personal car loan repayment options can affect the amount of interest that you pay as well as the length of the loan. While the payment plan is usually outlined before you even apply for finance, often there are several ways to pay off your shiny new car, each with different pros and cons.
Monthly repayments are the most common option for personal car loans, with lenders using this standard to estimate repayments, interest costs and more. With so many other … Read more