
You have found the motor vehicle you want and can’t wait get behind the wheel, now comes the question of car finance!
Once we have been through the process of research, test driving and negotiation – it is tempting to quickly arrange the finance, so we can start enjoying your new car!
Car Finance and the Headline Interest Rate Trap
Understand the Real Cost of Your Car Finance
The only true way of comparing car finance is:
- Calculate the total repayments over the period (36 payments of $x)
- Add any residual or balloon payment
- Add any fees, charges, delivery fees etc.
- Check the vehicle compliance plate to ensure you are financing a current year vehicle
This will give you the total cost over the finance period!
Zero Interest – Zero Chance!
From time to time we see offers of “0” Interest Rate Finance, but too often we find this can mask a higher overall cost of car finance which can be driven by:
- A higher purchase price
- A higher balloon payment (Which equates to higher interest costs)
- Additional fees and charges
- Unaffordable repayments
- A vehicle built in the previous year
If it sounds too good to be true – it often is!
A Finance Broker Gives You Choice!
When you use a Finance Broker for your car finance you can tap into the whole market – as distinct from an offer from one Lender or Dealership.
While the rate offered by a Lender or Dealership may look great – you have no real basis of comparison!
As a Finance Broker, I can help you access truly market competitive offers from a panel of lenders which includes all the major Banks!
Saving Your Time & Hassle!
A Finance Broker can also make it easy by doing all the fine tuning and negotiation on your behalf!
Importantly, as a Finance Broker I will also look beyond your immediate need, to ensure the car finance offered is tailored to your individual circumstances – allowing for any other commitments you may have!
If you are thinking of buying a car which needs to be financed, avoid later regret and unexpected costs by ensuring the finance you take is truly market competitive and tailored to your circumstances.
Give me a call for a quote and I will help you navigate the complexity and get the right finance you need – fast!