Financing Your Car Purchase

Are you in love with a particular car, whether classic or vintage? Then it is okay to go ahead and buy it. However, while this sounds all easy, the reality is that financial difficulties might stop one from achieving this. Well, you should not be surprised following the high cost that comes with some vehicles. However, that shouldn’t stop you anymore. You can easily get car finance.

This is a car finance option that allows you to receive the loan amount from a finance company. In turn, you commit to the repayment of the loan within an agreed period. Once the repayment gets completed, the agreement comes to an end, and you have full ownership of the vehicle.

Available Finance Options

If you are looking to finance a car’s purchase for personal use, there are a wide range of finance options that you can maximise to make this a reality. These options are offered from a wide range of lenders that we collaborate with. They fall under three categories.

Secured Car Loan

Sourcing a secured car loan as a finance option, allows you to receive the loan amount from a finance company. In turn, you commit to the repayment of the loan within an agreed period. However, this just sounds like every other car finance option. So, what really sets this option apart?

Precisely, with this option, you will be required to provide security for the loan. In most case, you will need to use the car you intend as security for the loan. Then, once you complete the repayment, the security agreement ends, and you now own the car out rightly.

Now, due to the presence of security in this loan option, it comes with a wide range of advantages for the borrower. For instance, you can enjoy a more flexible repayment period. Even more, you can include a residual clause that allows you to reduce your monthly repayments. More importantly, you get a lower interest rate thanks to the low risk associated with lending you.

Unsecured Car Loan

This is a finance option that allows you to receive the loan amount from a finance company. In turn, you commit to the repayment of the loan within an agreed period. However, this just sounds like every other car finance option. So, what really sets this option apart?

Precisely, with an unsecured car loan, you do not need to provide security to secure the loan. All you need to do is meet the lender’s specified requirements, and you are good to go. However, this might result in you having to commit to a higher interest rate. This is because, in such a situation, the lender will consider you to be high risk.

Novated Lease

A novated lease is a two-tier agreement that involves the borrower, the lender, and the borrower’s employer. Under this arrangement, you agree with the lender for car finance. Then following this, the lender enters into a novate agreement with your employer.

In turn, you use the vehicle as part of your salary packing arrangement while your employer makes the monthly repayment from your salary. This allows you to save more on what you pay as tax as the vehicle’s cost is deducted from your base salary and before tax deductions.

If you are interested in any of the finance options, you can reach out to us. We have a wide pool of lenders to connect you to and make your car dreams a reality. So, contact us to get started today.

Car Finance Calculator

Getting car finance looks all great until it is time to make repayment. If you have miscalculated your capacity to repay, you will find yourself in a mess really quick. Well, that is why you need to understand your financial obligation before entering into a car finance agreement.

However, doing this can appear a bit challenging at first. Well, this doesn’t have to be the case as you can now get things done easily with a car finance repayment calculator. It refers to a tool that allows you to determine your borrowing capacity or repayment capacity under a loan agreement. This way, you have the relevant information to make the right choice.

Car Finance Interest Rates

This refers to a vehicle finance interest rate tool that allows you to determine how much you can borrow when entering a loan agreement. This tool will require you to enter the various projected terms under which you intend to agree. In turn, it will provide an estimate based on this information.

The various terms you will need to enter into this tool include:

The proposed repayment amount you can afford
The loan term
The interest rate
The repayment structure
The loan type

So, if you are interested in determining your borrowing capacity before entering into a car finance agreement, you can maximise this tool.