CAR FINANCE IN CANBERRA
If you are looking for a new or pre-owned car in Canberra, Auto Car Loans offers you a range of great car loans to help you purchase your new car sooner than later. No one knows car finance like our loan consultants who can provide and tailor options for both businesses and individuals.
Here at Auto Car Loans, you will find an experienced team that is ready to work with you and help you find the best car loan suitable for your business or individual needs regardless of your budget. Take advantage of flexible loan terms, repayment amounts and competitive rates offered by our lenders.
HOW CAR LOANS WORK
One of the major decisions you will have to make as an individual or business is buying a car. In fact, it can be one of the key purchases you will make. Besides researching the make and model of a car that is right for you, what you also need to figure out is how to pay for it. Though some people and businesses can afford to buy and pay for a car outright, a lot of people prefer to use the car finance option for their purchase. Car finance is simply taking a car loan to buy your new or used car, and then repaying the loan monthly over a certain agreed time.
Car loans work in the same way as other types of loans. Usually, you take out a vehicle loan from a lender, which we’ll match you with. Our lender agrees to loan you the money, and you will pay back the amount you borrowed via monthly payments.
Failure to keep up with your payments may result in the lender taking possession of your car. It is also important to have it at the back of your mind that when you take out a car loan, your lender also has a financial investment. That means that the lender holds a security interest in your car. The security interest transfers to you when you have fully paid back the loan.
HOW MUCH DOES A CAR LOAN COST?
The lifetime cost of a car loan depends on a couple of different factors. You should consider these factors before taking a car loan:
- Deposit or Trade In (Down Payment): this is the advance payment or the money you put down at the onset. This can affect your interest rate.
- Interest Rate: it is the interest rate you will pay on the auto loan, and it is basically the fee charged by your lender for the loan. In essence, the lower the rate, the lesser the interest you will pay.
- Loan Term: this refers to the length of time you have to pay off your car loan. In most cases, it ranges from 36 to 72 months and is most commonly 60 months (5 years). The greater the repayment period, the less your monthly payment. On the other hand, the faster you pay back the loan, the less interest you pay in total.
- Principal: it is simply the initial amount of auto loan or the total purchase price, and it can impact how much you will pay for the car. Eventually, you will need to repay the principal and the interest accrued over time.
All of the factors above will affect the total cost of the loan. One way to lower the interest you will pay is to increase your down payment. However, whether you have the cash to put down or looking for a complete car finance option in Canberra, we will always find something that suits your needs at Auto Car Loans.
SHOULD YOU FINANCE A CAR?
The decision of whether or not you should finance your next car purchase by taking a loan is personal. Why some people in Canberra can afford to pay for a car outright, others choose the car finance option because they do not have an extra $20k to $50k cash they can part with and pay for a car. So if you so much desire a car but can’t afford to pay upfront or wish to manage your cash flow, car finance will enable you to purchase your dream car why you spread out the cost through monthly payment over an extended time.
BENEFITS OF CAR FINANCE
As earlier mentioned, a car loan allows a driver to buy a car by making monthly repayments over an agreed length of time. That is not the only advantage of financing your car with a loan.
Here are other benefits of car loans for Canberra residents:
- You do not need collateral: getting a car loan doesn’t require collateral. In fact, the car itself serves as the collateral for the loan. Once you have fulfilled all repayment obligations, the car becomes entirely yours. Otherwise, the lender may take back the car since it is the collateral.
- Huge savings: when you take a car loan to buy your new car, you rest assured that you won’t have to pay for repairs for a very long time, and the peace of mind that comes with that is an added advantage. Again, many new cars are fuel-efficient, meaning you will spend less on buying gas.
- Increased value: nowadays, car loans usually come with bonuses. Most car loan lenders usually give additional incentives like free registration, free fuel, and free servicing. While these extra perks are not the best reasons to take a car loan, it won’t hurt – just enjoy the full benefits.
- Improved budgeting: when you agree to a loan term, you can decide how much you will pay back every month. This helps you check your expenses, avoid overspending, and live within your available finance. With a good car loan, you could save some money from paying for a car upfront and start saving for your next car.
Some people in Canberra who have enough money in the bank to buy and pay for a new car outright still prefer to use the car finance option most of the time. The reason is simply that with car finance, you get a loan to buy your new car and pay back at your convenience, leaving you with liquid cash that can be put into other purchases or emergencies.
BENEFITS OF CAR FINANCE WITH AUTO CAR LOANS
For many people that come to us at Auto Car Loans, car finance helps them get on the road very quickly. Besides, you will get to enjoy some or all of these other benefits:
- Borrow up to 100% of the total cost of the car
- Taking out a car loan without having to pay a deposit
- Ability to add a residual balloon payment at the end of the loan
- Loan term that is convenient for you
- Fast and easy loan application
- Multiple approval pathways for non-conforming applicants
- We select the best loan offers from our panel of more than 50 lenders
- Competitive interest rates
Here at Auto Car Loans, we work with over 50 lenders, and that ensures if approved, you could see a result on the same day.
You could qualify for car finance if you are above 18 years of age. So, we encourage you to apply with us if you are an adult. We offer an effective and straightforward process to determine eligibility, and in no time, we will match you with a leading lender that meets your exact requirements. We save you the time and stress of searching for a suitable lender, providing you with an efficient car loan at quick turnaround times.
Getting started is easy. You only need to submit a simple application by visiting https://autocarloans.com.au/apply
, and then fill out your information, it takes only 5 minutes. If approved, we will match you with our top lenders as fast as possible.
WHY CHOOSE AUTO CAR LOANS FOR YOUR CAR FINANCE?
- We offer significant savings that banks or dealerships cannot give you
- We offer efficient and quick turnaround times
- Unique and custom service tailored to individual needs
- Access to a variety of leading lenders, so there is an option suitable for your needs
- We can offer loans without early payout penalties
- Expert loan consultants ready to help.
OTHER USEFUL INFORMATION
lenders specialising in car loans. We work closely with them to ensure that you have
an easy and simple process. Trust us, we know how important your time is and we want to make sure you get a car as fast as possible. Therefore, our car loan consultants will take the burden of finding a suitable lender off your shoulders and get to work to ensure you purchase your vehicle in no time.
Auto Car Loans is committed to ensuring you get a great car finance deal so that you can drive away in your new car sooner.
Client satisfaction is at the core of our service.
CONTACT US TODAY
If you need a car loan to purchase your next vehicle, then feel free to fill out the application form by visiting the link above. Alternatively, contact us today on 1300 301 051
to speak with one of our car finance consultants that will guide you throughout the whole process.
DISCLAIMER : The thoughts and opinions conveyed on this website are those of the authors only and are of a general nature. This does not constitute financial or general advice to you from Auto Loans Group. You should seek your own independent advice from a professional which is specific to your circumstances before considering any of the items referred to in this article, including finance, insurance, and car buying.