Getting a car loan is a big financial decision that you want to make sure you get right.
The majority of people considering buying a car today, whether looking at a brand-new car from a dealership or a second-hand car via a private sale, are likely to require a car loan to finance the vehicle.
So, before you submit your finance application at a car dealership or via your bank please consider the following checklist items when looking to finance your next car purchase.
Pre-approved car loans
If you’re looking to head out to buy a car from a car dealership, it’s wise to apply for your car loan finance before you set foot in a dealership. Having your finance pre-approved can increase your bargaining power at the sales desk and ensure that you can buy a car on the day.
This enables you to explore the market with confidence, armed with the assurance that your finance is in place.
New car versus second hand car
It’s true, new car loans can sometimes be easier to get approved than if you are looking at purchasing a used vehicle.
If the repayments for a new car fit within your budget, then you may be able to get a lower interest rate as the financial institution sees it as more reliable purchase and has a manufacturer warranty covering you for years to come. Finance companies know older vehicles are harder to sell if the customer defaults on their loan obligations, hence harder for them to recoup their money.
Partners Wealth Group car buying program
We can work on your behalf to take the stress out of negotiating the price of your new car away from you. In many cases we can save you thousands off the retail price of your new car by negotiating pricing on your behalf. We’ll find you the most competitive interest rates available in the market with financing tailored to your needs. We can then work with our dedicated network of car dealerships to help you find the right car, as part of our car buying service, while providing expert advice every step of the way.
Do you have someone experienced in your corner?
At Partners Wealth Group our lending advisors have over twenty years’ experience in the vehicle and equipment finance. You can rest assured that you are getting the right advice as we work for you, not for the banks. We can organise a pre-approved loan for you within 24- 48 hours. We pride ourselves on the personalised service that we provide to our clients.
As well as personal car financing, we also finance motorbikes, aviation and marine, trucks, yellow ticket goods, and leisure craft. If you are a small business owner, we can finance virtually any item of equipment that you require from your business
For more information please contact us to discuss how we can assist you with your next purchase.