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6 Things to Ponder on Before Applying for Car Finance

Car loans are a big help for new car owners and even for businesses but you have to make sure that you are ready before you take on the loan no matter how enticing the offer is.

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6 Things to Ponder on Before Applying for Car Finance

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  1. 6 Things to Ponder On Before Applying for Car Finance Author: Jane clothier 1800 Approved Finance Solutions 33 Ereton Dr., Arundel, QLD 4215 1800277768 http://www.1800approved.com.au/

  2. The excitement that people feel when buying a house is the same as when buying a car. Probably because a car is also a big investment and family always comes to mind when deciding on the type and make of car to buy.

  3. And because it is a big investment, being financially ready for the responsibility is extremely important.

  4. Here the 6 things to consider before signing the dotted line.

  5. Upfront Payment Some people pay more money upfront while others prefer to pay the least money upfront and get the longest loan term. There are benefits to both strategies and it really depends on your plan and financial capability.

  6. Cost of Ownership • Cost of registration or transfer of registration • Maintenance costs - As the car gets older, the more expensive it is to maintain • Tyres • Inspection • Stamp Duty

  7. Private Sale Sometimes, it is cheaper to buy from a private seller than in used car dealerships but, you have to thoroughly inspect the car before agreeing to buy it.

  8. Here are the things to check • Registration papers • Proof of ownership • Pink slip (no more than 28 days old) • In Victoria, Road Worthy Certificate (no more than 30 days old).

  9. Check with the Australian Government PPSR to see whether the car or the original owner is free from any financial obligation.

  10. If you choose to, you may also have the car professionally inspected in order to detect any problems that may be hard to see.

  11. Dealerships Licensed dealers are more reliable than private sellers because they check and repair any issues before they sell the car. By law, they are also required to provide warranty on cars under 10 years and have less than 160,000km in the odometer.

  12. Finance Brokers Finance brokers are now widely used by car buyers because they make the process easier and faster. Brokers like 1800Approved can get you finance quotes from over 30 lenders with just one application.

  13. Benefits of Working with a Finance Broker Work with finance experts who will help you get the best deal. They do not work for the banks or any other lender so they will have your best interest in mind.

  14. Benefits of Working with a Finance Broker Compare quotes from different lenders. One loan application will get you quotes from all major lenders and banks. A very good time saver plus the finance broker will help you choose which deal suits your needs.

  15. Benefits of Working with a Finance Broker Fast and easy loan approval process. Less documents and paperwork.

  16. Buying a car is not something you should rush into. Remember, you will be owning the car for a long time and, if you will be taking out a loan, you will be paying for it for a long time too so you have to make sure to choose the right car and the right financing option.

  17. 1800 Approved Finance Solutions 33 Ereton Dr., Arundel, QLD 4214 1800277768 http://www.1800approved.com.au/ Providing award winning financial solutions to Australians since 2008. We specialize in car loans, truck loans, business loans, & other finance services.

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