Car loans
Where are you on your car finance journey?
Being on top of the car’s financials is as important as its features, whether it is your first or tenth purchase. Therefore, many of you choose to get car loans. However, the subject of finance can be a little tricky. Hitting the dealerships before purchasing could save you considerable time. So which phase are you at?
1300Carmoney runs through the entire journey, from choosing the finance product you need to getting the required money to purchase your vehicle. In addition, we offer customers a competitive car loan rate, with appealing features such as the ability to make extra repayments without penalty. Need more information? Know the benefits and features of the 1300Carmoney Car Loan.
Document for loan
Things you should know
With rates at an all-time low and the festive season kicking off, many of you may be planning for your dream car. Getting a car has become more convenient with readily available car loans. Keeping the following in mind will make your car-buying journey more manageable.
- The basics
- Compare rates
- Decide on the amount of the loan
- Get a fix on the tenure
- Online banking
- Personal loan contract terms and conditions
Assessing your income and present expenses, you must determine how to manage upcoming commitments during the loan tenure. Then, analysing all these aspects, you can settle on the suitable loan amount and term.
Get your best rate car loan
- The interest rate on your loan
- How long did you take out the loan?
- The establishment fee for your loan
- Any ongoing fees?
- Early repayment penalties
Car loan options for Business
- Consumer Loan
- Refinance Car Loans
- Chattel Mortgage
- CHP Commercial Hire Purchase
- Bad Credit Car Loans
- Novated Leases
Car loan options for Consumers
- Low Doc Car Loans
- Business Car Loans
- Car Lease
FAQ's for Car Loans
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Can I finance a used car?
Yes, you can easily finance a used car. Customers can opt for personal loans to fund a used car purchase. Such loans are delivered at attractive interest rates and do not require much documentation. Although financing may be available through a local bank, dealership, or credit union, it's best to know what you can afford and shop around for the most suitable interest rate.
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What is a residual value/balloon payment?
Residual/balloon payment implies paying a defined amount at the end of your car loan, mainly designed to decrease your ongoing repayments throughout the life of your loan before the end of the term. Generally related to car leases, residual payments are a factor in the final estimated value of your vehicle, accounting for depreciation considerations. Balloon payments are related to car loans, which are set as percentages or values not based on the car's value.
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Can I bargain the loan interest rate?
If you are someone with a good credit history and no missed repayments, you can reach your lender and ask them about the interest rate offered to new customers and get the same interest rate for your loan as well. But unfortunately, few lenders might be willing to negotiate to retain their existing customers.
