Car loans | Mortgage Broker in Gungahlin, Taylor, and Harrison
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How do car loans work?
Buying a car is an extremely expensive action, which, if you’re looking to buy outright, can take years of saving to achieve. Car loans offer an alternative car ownership pathway that allows you to make a small deposit to collect the car of your choice, then make regular repayments to pay off the remaining total of the car plus interest. These loans tend to be set between 1–7 years, depending on how much you can afford in your regular repayments.
No two car loans are the same, which makes navigating the car loan market extremely difficult, especially when you’re experiencing it all for the first time. Car loans can also come from a variety of lenders, including car dealerships, so it can be hard to determine who has your best interest in mind.
Luckily, you’re not alone. Manan and Girish, your local mortgage brokers for Belconnen and surrounding suburbs, have experience in the car market and know all the tips and tricks to get the best deal possible for the car of your dreams. With Manan and Girish by your side, you can rest assured knowing that your best interests are being taken care of.
What to be aware of when taking a car loan
As mentioned, car loans are extremely different from lender to lender and even from car to car. Certain lenders may include bonuses such as included servicing, however, others may offer a lower repayment rate.
It’s vital to know what your budget is going into a car loan, and what features of the loan are valuable to your way of life.
A few things to keep an eye out for when taking a car loan include:
- What cars are on offer - make sure you’re not settling below your goals
- If test drives and inspections are available before purchasing
- Interest rates
- Bonus sign-on features, such as included servicing, registration, or cleaning
- Long-term costs - always take into consideration your long-term financial situation, to determine if the ongoing cost of a car loan is suitable for you.
It’s always recommended not to drive stressed, so let Manan and Girish take that stress off your shoulders before you drive away in your next car.
Looking for your next car but not sure how to start? Call Manan on 0411 897 545 or Girish on 0420 314 553 today.
As your local Mortgage Choice brokers for Gungahlin, Taylor, and Harrison,
Manan and Girish are also available to assist with:
