Secured Car Loan
A secured car loan is a great option if you’re looking to purchase a new or used vehicle (for personal use) no older than 7-10 years of age. A lender will hold a security over the vehicle which usually results in a lower interest rate than that of a personal loan.
You take ownership of the vehicle at time of purchase and the lender simply registers security over it, allowing them the option of repossessing the vehicle in the event you are unable to make the loan repayments.
Buying a new car is exciting
But it can also be a stressful and frustrating experience if you don’t have all the relevant information when it comes to obtaining finance.
High pressure sales tactics along with the excitement and emotion of that new car can hinder the finance decision making process. Sometimes a quick decision now can cause years of financial pain down the track.
The Broker Team specialises in assisting with car finance that suits your needs. We can provide indicative quotes within minutes and match the right lender for your situation and car type.
Don’t just settle for what the car dealer tells you, click below for a free no obligation quote and let us assist you through the process of buying your next car.
Don’t be sold on a low interest rate!
Make sure you compare the ‘actual’ repayment amount. This is the only way to compare apples with apples.
A low interest rate quoted by a dealer might be an indicator that they are making more margin on the sale price of the car, thus reducing your ability to negotiate a great price. If you can negotiate a good price on the car first, you can then compare finance options knowing you are getting a great deal on both.