Tips To Get the Best Car Loan to Buy Your Dream Car

Once you have made up your mind to buy a new car, you need to consider certain things. The foremost and the most important is the negotiation of the best price for the car that you chose. After you have decided for the car, taking the best car loan is a big deal. Car loan is a way to purchase a new or used vehicle. It is away to borrow money from the lender and then repay him on time but with some interest. There are certain tips through which you can get the best car loan: 

• Do not always expect the best – When you are looking for the best car loan, do not expend the lender to offer you the best rate. You are more likely to go for the best rate as you are looking for it already.

• Look for the total annual amount- Do not just look for the monthly payment while choosing a loan. You should not even discuss the monthly payments with your lenders. Rather you should look for the total annual amount while searching for the best loan.

• Get aware of your credit history- Your bad credit history is surely going to affect your loan application. If your credit score is not good, try to improve it so that your loan can be easily approved. People with bad credit scores have to pay higher interest rate than with good one.

• Car loan term – It is generally referred to as the amount of time in which you will have to pay the lender back e.g. if the loan is of 5 year term, you will pay for it in the five years and own your car free.

• Come up with your own financing- It will be impressive if you will come up with your own financing. If you have financing in your hand, you can surely concentrate on the price of the car without any worry of paying the higher interest rate.

Once you have acknowledged these tips, you can easily apply for the best car loan that will suit your budget.

Do you have any Idea How Bad Credit Car Loan Interest Rates Work?

Well, it’s not just you, there are many who might have encountered number of problems due to compromised credit ratings in the past, but still want to get the same kind of deal on car loans that saves them some money. However, the key is to understand that your car loan approval will be provided after the sole decision of lender and the interest rates will be based on the risk assessed as well as your credit history.

Car loan lenders in Australia generally rely on the statistics given on your credit report, which eventually helps them to consider your application as well as if you are going to pay for the loan without any hitch. Your application, approval of a loan and the interest rates are highly influenced by your credit history. Other factors, which ought to be taken into consideration while fixing the interest rate are net asset position, surplus of income after all the expenses have been made, as well as employment and residence stability.

On the other hand, if your credit history is all clear without any past issues, you can expect paying an interest rate same as in a normal car loan. However, if your credit history has some serious marks on a negative note, the rate might go up exceedingly. Thus, to be on a safer side, always try to keep your credit ratings as healthy as possible.

At times, the interest rates might look high, but everything is decided after the analysis has been done by the lender. Consequently, those who have directed their finances poorly even when they got a second chance have automatically given the lenders the chance to raise the rates.

Offering similar rate loans for each car buyer is quite unprofitable for the lender. Therefore, only individuals whose credit record shows reliability and assurance are considered for low rate car loans. On the off chance, if you are seeking a bad credit car loan, it is wise to consider purchasing a more affordable vehicle.

Finding a bad credit car loan in affordable rates in not so difficult. However, selecting the right one is the key. To hit the bull’s eye, always go with the experts. You can talk to one at Loans Direct by Requesting a No Obligation Free Consultation.

Are You Going to Take the Advantage of Savings on Your New Car Purchase? How? Read it here…

Now is the perfect time for buying a car if you are in Australia. Yes, you heard it right. If buying your dream car was at the back of your mind, it’s time to move it in front. It’s just because of the amount of money you are going to save while buying the car at this point of time.

Car buyers who are intelligent and wise enough end up saving on both the sides of car buying. First, it is the end of financial year sales time in the car industry offered by most of the car dealers in Australia. Which means you can make big savings right now on the drive-away price of new and used vehicles, as dealers try to boost up their sales to keep their funds flow growing.

Second is the car loan offers, which are extremely attractive right now. As per the current interest rate cut by RBA earlier this month, interest rates are at the lowest on record. Again which means, you can take advantage of low car prices and lower interest rates. It’s the right time to grab a great deal on a new or used car, as there really has never been a better time.

Moreover, if you are opting for energy efficient cars in Australia, you will soon be getting discounts on loans. As an initiative towards green environment, to reduce emissions including building upgrades and solar installations, some Australian lenders named Firstmac and the Clean Energy Finance Corporation have relied upon the agreement that they will offer low rate loans upon the financing of a green car. According to Firstmac managing director Kim Cannon, “Around $25 million would be spent on cheaper loans for environmentally-friendly cars”.

Thus, gear up to get the best rate at just the right time to secure a car loan. To help you in every step, Loans Direct make the entire process easy through its access to top Australian lenders and individual car loan products. Here, you will find a car loan that suits your budget with amazingly low rate finance deals available to fund your new wheels, allowing you to save even more.

Contact a Loans Direct Car Loan Officer to discuss your needs today.

Various Options Of Financing Your Dream Car In Australia

Australia is a fast growing nation with various automobiles launching each year. In a big place like Australia, owning a car seems to be a better and economical option than using the public mode of transportation. A personal car comes in extremely handy in times of crisis. Since car is, the second most influential investment made by a person (first one being a home) it is very important to do a detailed study of all the factors.

Car loans make it easier for a person to afford a car as and when the requirement plunges. Earlier, in Australia the rate of interest were fixed giving us a fixed rate of EMI however, now the modes of financing have increased, with various competitive rates of interests.

Given below are the few options of car financing -

• Secured Car Loans
• Lease
• Hire Purchase
• Chattel Mortgage

Secured car loans are better as interest rate is way cheaper than Unsecured Personal Loans.
Turnaround times are within 24 hours in most cases and LMCT purchase is easier than private sale.
Make sure to keep the budget in strict mind to avoid any crisis or debt to arise. It is best to hire a financial consultant to help you understand the financial undertakings in detail.

Some Facts About Car Loans In Australia

Australia is a country of dreamers and achievers. It was long back that people thought owning a car was a distant dream. Australia holds a large percentage of people, which has a high rising per capita income and gross national uprising. The process of buying a car begins with the process of selecting a vehicle in the criterions of preference and affordability. Australia being a growing country has number of automobile companies with a vast range of collection; however, it is extremely vital to buy a car in accordance to the needs, depending upon running, size and shape one can choose the car.

Financing a car is the next big question in hand. With the booming automobile industry, a number of companies are ready to offer extremely competitive car loan rates in Australia. However, before making any concrete decision, the best option for you is to look up to internet for car finance in Australia, as all the companies are listed with all the relevant transparency to avoid any confusion.

It is important to note that when we buy a car through dealership, the dealer is working on a commission. To avoid being duped or stuck in the shackles of ‘paying extra’ to the dealer, it is always advisable to get hold of a car loan calculator. The loan calculator is a very important and handy tool over the internet that helps us get all the relevant details related to the payments. All we have to do is enter the exact loan amount, rate of interest and the time of repayment the calculator will give us the estimated amount we will be liable to pay back as the monthly expenditure and the acquisition cost involved.

In Australia, securing a car and a loan for it is not a very difficult task, all you have to do is to contact a reliable financing consultant like Loans Direct and your dream car will be at your service very soon. The process of securing a car in Australia is straight forward.