Car loans | Mortgage Broker in Altona, Wyndham Vale, and Laverton
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Why choose a car loan?
Cars can be a large investment, as a well-picked car can last over a decade when treated with care. However, having the funds available to buy a car outright, although not impossible, is typically not commonplace. That’s why car loans exist. Car loans are a car ownership pathway that allows individuals to place a deposit on a car and repay the remaining amount over 1-7 years with interest.
As car loans and the car market have evolved over the years, so have their offerings and variety. Some lenders will offer more competitive interest rates and lower repayment options, whereas others may include warranty and complimentary services for a period of time.
Knowing what lenders are available and which of the loan options are most suited to your lifestyle and finances can become a tricky balancing act when in the throes of looking for a new car.
With a broker, like Shashi Velpula, assist you in selecting a car loan, you can drive away confident that you’ve spent your money on a new car wisely.
Drive away with confidence in your dream car and get in touch with Shashi on 0424 779 780.
Considerations when selecting a car loan
Not all car loans are built the same. With the difference in lenders varying so widely, it can be hard to know which options are better value than others. As a loan may be offered from a dealership rather than a typical bank/financial institution, it is typically very beneficial to physically inspect your desired car before making any decisions.
This can lead to a complicated decision-making process, as the blending of necessary loan theory and the practical nature of car inspections aren’t skillsets that are commonly paired together.
Some of the key things to look out for when determining your next car loan include:
- Are certain loan options locked to certain car models?
- Is the interest rate structure fixed or variable?
- How long is the loan repayment period?
- Can you make an additional payment?
- If dealing with a dealership, are the cars on offer available for inspection/test drives before signing?
A broker can make the car loan process simple by taking in all of the above into consideration and doing the legwork for you to ensure you’re only being offered the best deals on the market.
Get in contact with your local broker, Shashi Velpula, on 0424 779 780 and drive away in your new ride in no time!
As your Mortgage Choice broker for Altona and the surrounding suburbs, Shashi can help with any property or finance inquiries you may have, including:
