Important considerations for when taking out a car loan

19 August 2013 - Which Way To Pay

Email Article Print Article
    


Hints and Tips: How to decide which car loan to take out?

If you are buying a car then you should take the time to research all your options carefully and ensure you get a loan that is suitable for you and your needs. What is suitable for your friends or family might not be the perfect solution for you. Never rush your decision and you should always shop for your car loan before your car this way you will know your budget and any terms or conditions that are set out.

What should I look out for when researching car loans?

  1. Car loan interest rates

    Interest rates can vary enormously depending on the term of the loan and the institution offering the loan. Things to consider is the loan amount and whether you would benefit from a fixed rate or variable loan

  2. The term of the car loan

    Most car loans have a term of between 1 year and 5 years, although some can run up to 7 years. You should consider this carefully, you will have this debt hanging over you for the duration of the term so it is important that you think about this carefully and ensure you will be able to make the repayments.

  3. Fees and charges

    Read the terms and conditions so you are aware of any additional fees that might apply. Double check any fees for repaying the loan back early or defaulting fees.

  4. Repaying the car loan

    Always make sure you are able to make the repayments monthly or fortnightly. If you are in any doubt you should seek independent financial advice. It is important to take this seriously.

75x75_news_13.jpg
 

Related Links:
• Pros and Cons Of Car Loans

PRODUCT RANGES:

CURRENCY EXCHANGE
Compare Foreign Exchange and Currency >>

INVESTMENT TRADING
Compare Investment and Trading >>

LOAN PRODUCTS
Compare Loan and Debt Products >>

CARD PRODUCTS
Compare Cards Products >>

MONEY PRODUCTS
Compare Money Products >>

Starting to worry about the cost of student life . Look no further a Student credit card is your answer.
31 August 2018
Which Way To Pay
Student credit cards. When starting your student life it can be a worry over the financial side of things
Read More >>
Getting stung with large veterinary bills can prove to be a struggle . That's why Pet Insurance cover is so important.
30 August 2016
Which Way To Pay
Making sure all our family's favourite pets are covered on a insurance plan is very important.
Read More >>
Legal Services are a very scary words , make sure your dealing with things correctly .
16 July 2015
Which Way To Pay
s we all know when dealing with anything legal it can always be a little bit daunting . This is why many people across Australia use some form of Legal Service guidance. This helps to make sure all those legal requirements are dealt with in the correct way.
Read More >>