Why do people go through all that hassle to compare car finance rates and look at car financing figures? What is really so wonderful about taking on a loan from the bank? While a car can be an asset to you, why do you need to take on a liability in order to acquire one? Let The Smarter Finance Company help you with highlighting the benefits of having a car financing plan in place to come up with funds for your new ride!
More money! – It’s unfortunate that we were not all born millionaires, but that doesn’t mean you have to give up your dreams of owning that car on sale! Perhaps you are just a little shy of the amount you need or you’ve got savings in the bank that you would rather not touch, having a financing plan in place means that you can put up the cost of the car and take your time to pay it back to the lender over a period of time.
Easy Applications – Because cars are a way of life and aren’t too huge of a financial commitment (compared to business or housing loans), banks and lenders tend to be a bit more forgiving when you have bad credit history or no credit history at all! Being able to secure a car loan might even be able to help improve your credit score in the long run!
Low Risk – Using the car you want to buy as collateral to apply for a car loan is a great way of ensuring that you can get low rates and a good plan in place without risking your home or other financial assets. In case of default, the bank will repossess the car before any of your other assets.
Fixed Interest Rates – You can speak with your car financing broker or the dealership to help you with a fixed rate financing plan. Being able to fix the interest rates helps you to predict the monthly installments that will be due for your car. You won’t have to worry about any unexpected surprises along the way if interest rates increase – nobody want s to be told that they suddenly need to pay more!, and you can safely allot a portion of your income to making payments for the length of your loan.
More Perks – Banks love when customers sign up for long term payment plans because they are able to have a stable stream of income from you in repayment of their loan. And sometimes, that means that they’re willing to throw in some nice freebies to attract and reward people for applying for loans with them! Perhaps free insurance for a limited time or a free appliance of sorts and maybe even vouchers for restaurants and other establishments too!
If you want to find out more about the rates and options available for car financing in Australia, get in touch with one of our professional car financing consultants. We are well connected across the country and besides being able to get you the most competitive quotes, we are also able to help you structure your car financing plans to match exactly what you need! Let us help you enjoy the benefits of car financing today!