Buying and financing a new car may seem like a really big task. You need to consider if you want, and can afford, a new or used car, and how you will finance the car. Finding the right loans and interest rates for you and your budget is daunting. Should you get a loan from your bank? What kind of loan? How will the interest rates affect your finances? With all these factors and questions to consider, it isn't hard to see why so many people put off buying the car they need or want.
However, what most people don't know is that there is an easy way to finance the purchase of your new car. Loan companies, like Aussie Loans in Brisbane, Australia, provide cheap and professional car finance options so you can finally afford the new car you need. Whether you are buying a used car, a brand new model, or a prestige car, Aussie Loans can help you save money and get behind the wheel of your new car as soon as possible.
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There are many benefits to getting your car loan through Aussie Loans, including:
Premium interest rates with our right to use to wholesale funds
Minimal paperwork because we do all the bargaining for you
Several choices of loanterms from 2 years to 7 year
Your choice of secured or unsecured loans
Aussie Loans will find you the best possible deal for your new carfinance in all of Brisbane.
Aussie Loans, and other loan companies, generally offer two types of car loans: secure and insecure. Secured car loans are secured, or held, against an asset you already possess such as equity on your home or another property. Usually, with car secured loans, the car itself acts as security for the loan. This security gives us more confidence in your ability to pay off your loanas the security provides insurance if you end up defaulting. But, since theloanis tied to a specific item, such as your car, you would be required to repay the remaining loan balance in full if you chose to sell that car or other property before the loanterm has ended.
Unsecured loans, as suggested by the their name, are not secured against anything, be it property or real estate. Rather, they are given out based on your income and credit score. Unsecured loans offer you flexibility in they are not tied down to any given item or property. For example, you could use the money from you loanto buy one used car, but then sell that car later on and buy a different car without impacting your loan.
Aussie Loans and other loancompanies greatly prefer securedloansbecause they provide both you and the loancompany greater security. This security gives us, the loan companies, more confidence in you, the buyer, and therefore allows us to offer lower interest rates than with unsecured loans.
Besides the type of loan you choose, there are other factors to consider when you are dealing with car finance, including:
Deposit - Most loans offered by Aussie Loans don't require a deposit, but if you have money available to use as a deposit you could see a reduction in the amount you need to borrow for your used car, or you can buy a car of with a higher value such as a prestige car.
Term - The term of your loanis the number of years over which you repay your loan. A typical term is two to seven years. Extending the length of your term will diminish your monthly payments, but will boost the amount you need to pay back over time because of interest.
Balloon Payment - You can lower your overall monthly payments by having a final balloon payment, meaning pay back a majority of your loan all at once at the end of your term. If you are looking for a low monthly payment plan, the balloon method is good plan.
Comparison Rate - The comparison rate is your loan's annual interest rate plus any additional costs relating to the loansuch as monthly servicing fees. Always be aware of any addition costs as they will raise your comparison rate.
Payment arrangements - Whether your payments are due weekly, fortnightly or monthly, it is imperative to find the best payment arrangements for you.
Before you enter into any sort of discussions or negotiations with a loan company like Aussie Loans, it is important that you come up with a plan regarding the term, interest rates, and general monthly payments of your car financeloan. In order to do so, you can use an online tool called a car finance calculator. A car finance calculator allows you to enter in your monthly budget goals, or the price of your new carinto its search engine, and it will calculate the best loan amount for you and your budget.
There are two ways to go about using a car finance calculator. If you know your monthly budget goal, begin by entering that amount in the total loan amount space of the calculator. You then work backward to determine what loan amount you can afford. Or, if you know the price of the car you want, you can start by entering that number in the monthly payment window, and the calculator determines what your overall loan amount will be. You can adjust the interest rate and loan term on the calculator to reflect the terms of the loan company you are working with. If you are using an online car finance calculator, it is important to be aware that any numbers produced are just projections and not set terms of a loan.
Loan companies like Aussie Loans are able to provide cheap and easy financing for your new or used car. Aussie Loans offers the best and most affordable car finance assistance in Brisbane.