Car loans are offered by independent companies in Australia today. Buying a car is one of the largest purchases that you are ever likely to make, aside from your home. You can get financing direct from the car dealer or even from the bank. Yet the interest rates offered at many car dealers in Australia just aren't as reasonable as those offered by specialist car loans providers. Use the table below to compare car loans, check what rates they offer and if there are any other fees attached to the loan. Take your time before making a choice about the loan as financing a car is a significant step that requires patience and an eye for a good deal! Please make sure that you read the terms and conditions of any car loan thoroughly before you apply.
Compare Car Loans
Different types of car loan
Car loans are available for a variety of types:
You can get car loans as an unsecured or secured personal loans, you can take them out within a business loan or you can find car loans for people with poor credit. Car loans are also available for new and for used cars.
How to find the best car loan
Just select your car loan from our list of top car loan companies. Here you can easily compare the different possibilities, conditions and fees in order to find the car loan which best suits your personal situation.
How to apply
To apply for a car loan is very simple indeed. All you need to do is to fill in an online application form an offer will usually come very soon.
What to look out for
The first thing you should look at is the interest rate which the loan company offers you. This will depend on how much money is required and on the length of the loan, which usually will be between one and five years. It is also important to see, how often the loan company wants you to make repayments and check what kind of fees they charge.
Who is eligible for a car loan?
Before you apply for any financial product, you must ensure that you are eligible otherwise you will be wasting your time. With a car loan, this will usually relate to your age, credit rating and employment status. You might also sometimes need to be a homeowner, so this is worth bearing in mind. If a car loan you must be over the age of 18 years old.
How to compare car loan providers?
As with all loans, it is paramount that you do your research carefully and ensure that you read the terms and conditions carefully, including the small print. When you have narrowed your options down, based on how much you would like to borrow and for how long, your primary concern should be the cost and what car you are able to purchase with your car loan. Many car loan providers specify that you need to purchase your car from a specific car retailer to ensure the best rates so you must ensure you watch out for this. When comparing car loans, you should always ensure you check out the loans APR (annual percentage rate). This is the interest rate that will determine just how much your borrowing will cost. You are not always guaranteed the advertised rate, this can vary depending on your income and credit rating, so you must ensure you read the terms thoroughly. Always compare each loans APR side by side using a comparison grid so you are aware of the costs.
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