Top Tips To Consider While Applying For Car Finance

By Author: surelend
Total Articles: 11
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Buying a new car can be an exciting time in your life. It may be your first car, or it could be replacing the car you’ve been driving for fifteen years. Either way, a new car can mean a lot to people. For some it may represent the start of a new family, new job, or new adventure. The one thing that they all have in common is that they cost money. Car Finance in Brisbane is a common thing when looking to purchase a vehicle. Finance options may change depending on whether you are purchasing for business or personal. The best way to evaluate all your options is to speak with your Finance Broker in Brisbane. Today, car finance is a daily occurrence in every dealership you walk into, so I am going to give you some tips while applying for car finance.

Don’t take the fast option
When you walk into a car dealership, a salesperson will spot you and take care of you when looking for the perfect vehicle. When it comes to payment, they are taught to offer a finance option, meaning that you both purchase the vehicle and borrow the money for the vehicle in the same transaction, in one go. The reality is, this is fast and ...
... is very easy to fall into, especially when you have someone in front of you pushing for it to happen.

Rate isn’t everything
You may think this is ridiculous, however it is true to an extent. Obviously, a lower interest rate is great, however if you choose a loan that is 0.02% cheaper, it only means a matter of dollars. The features that are in the loan are what can make a world of difference. For instance, look at the term of the loan, the frequency of repayments, whether payments are to be made in advance or arrears and the ability to make additional payments. These features can save hundreds or thousands of dollars over the term of the loan...it really goes to show that a slightly cheaper rate is not always the best option.

Be careful when “checking” finance options
The access we must look at finance options today is more than ever, however these finance options are available to literally everyone. If you want better options, your best choice is to visit a finance broker in Brisbane. They have better access to large banks (depending on their accreditations), meaning they can give you better choices for car finance in Brisbane. With the access we have online, it can make it very easy to accidentally lodge an online application for finance. What people may not realise is that it will negatively affect your credit file, making finance even more difficult to get.

Know your credit file
If you know that you have a credit file that is not the greatest, then it is probably a better idea to leave a finance application for another date. Lodging a further application, yourself will likely result in a decline, which will make your credit file worse. A finance broker in Brisbane will have ways around a low credit score, getting you what you want!