Archive for February, 2010
Get A Car Loan Without Getting On Your Knees!
There comes a point in every driver’s life when it’s time to get a car loan for a new or used car, but where do you go to get the best loan rates?
Depending on your financial situation, your credit rating and the amount you want to borrow, there are a number of loan options available. Once upon a time, most people headed straight to their local bank or credit union, but these days various lending institutions have created new opportunities for auto loans that weren’t previously available.
Most auto dealers are in partnership with one or more finance organizations so it’s likely they will offer you their services. But you need to know that most car dealers make a commission on every loan that is brokered through their dealership, so it’s in their best interests to ‘sell’ you both the car and the loan.
The most valuable decision you can make when getting a car loan is to shop around for the best loan, which is now easy to do via the Internet. From the comfort of your computer, you can check out the major banks’ lending rates, the loan rates offered by credit unions and also the choice of rates offered by the many online loan providers.
Find The Best Used Car Loan Rates Australia Has To Offer
Dealer ads frequently announce “the best used car loan rates available”, but the interest rates differ enormously, so how do you know who is telling the truth?
And it’s not just the auto dealerships who put out billboards offering the best car loan rates in town, finance companies and a variety of other financial institutions go down the same path.
So, short of getting out your financial calculator to work out the maths, how does anyone in the market to buy a used car know if they are getting the ‘real deal’?
While the solution to finding the best used car loan rates in Australia may not require a calculator, it does require some research if you want to reap the benefits.
Many people head to their bank or credit union initially. While the major banks, and more particularly the credit unions, offer very competitive rates for used car loans, their lending guidelines are very stringent, making it virtually impossible for the average guy in the street to meet the qualifications.