Car Loan New Car
Finding a new car loan
When people price a car, they often think of sticker price and nothing else. There is a lot more to buying a vehicle than price, and if you focus on price alone you are not getting the full picture.
Car purchasers should consider cost of the car loan, or vehicle finance, and particularly loan types and interest rates.
Like different cars for sale, there are also different types of loans to suit different tastes and all these things should be considered when you consider how to buy a car.
Most people do not know that the ticket price is usually negotiable, even on new cars. It all depends on how you want to pay for the vehicle, whether it is popular, and how many sales the dealership has made that month.
As a general rule of thumb, if you use dealer finance the purchase price is usually set at a higher mark to compensate for the lower interest rate. If you have your own finance, or a pre-approved loan, you are able to negotiate for a price reduction on a new or used vehicle, or added benefits such as vehicle upgrades and better models.
Pre-approval gives you power
The first thing you should do before hitting the new or used cars’ sales, is to consider how much you can afford to borrow, including the interest. It is better to get pre-approval for a certain amount of money so you are able to negotiate from a position of strength when it comes to crunching a deal.
At loans.com.au we can help you determine the sort of loan you require, at a competitive rate.
We also provide fast approvals so you can start shopping sooner.
Remember the wrong loan at the wrong rate can add thousands of dollars to the cost of a car.
Be sure that you get the correct sort of loan for your personal circumstance.
New car dealers that offer low interest rates may refuse to discount the purchase price of vehicles, while other dealerships may drop the price by thousands of dollars if you pay cash.
Take the time to do the math before you buy a car and you may find that dealer finance could cost a lot more in the long run.
Get the loan, then the car
Whether you want to buy a Ford, a Holden, a Mazda, a Toyota, a Ferrari, a Lamborghini or a Hyundai, the first step is to make sure you do not pay too much for your car loan.
Before you ever start searching online for ‘vehicles for sale’ or ‘new cars for sale’ you should look for the right car loan. Remember, companies with low overheads usually have lower rates.
Lenders with secured car loans usually offer lower rates than unsecured car loans.
At loans.com.au we are confident that you will find the right loan for you. We will help you to get your loan as quick as possible. We will work hard to get you approved, and our friendly staff members in our Australian call centre will be ready to answer all of your questions.
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