The best car loan product can also depend on your personal financial situation. For example, do you want a car loan that:
Is between 1-5 years
You can make a deposit
Has the lowest interest rate
Has no penalty pay out fees
Often when you make a deposit you can reduce your car finance interest rate. Car finance repayments can be lower if you securitise the vehicle.
Most car finance companies will display their rates online so check them first. You also want the most flexible loan. Can you have the flexibility to pay back more if you come in to some money?. To put payments on hold for a month or two. Consider your financial circumstances today as well as in the future. It’s important not to over commit yourself as well.
Buy as much car as you can afford. But, make sure the car loan repayments are affordable.
As you can see, there are a lot of different types of questions which will need to be considered at the time you wish to take car finance. Ask around, your friends may have good and bad experiences. Speak to a car loan broker may also be a suitable option. Car finance brokers will generally advise the best.
Online, there are many resources which will enable you to be able to work out your car loan or novated lease repayments. You can use a car repayments calculator which will accurately provide you with a repayment schedule showing you the interest payable on the loan rate you get. Alternatively, if you are after a car lease, then use the novated lease calculator which will show you all of the calculations and savings to your take home pay. You can literally save thousands with a novated lease or car lease.