Finding the best car loan can be a challenge. Since the GFC (Global Financial Crisis), there is a shrinking pool of car financiers available. So what does this mean to the consumer?
It means more than ever, it is important to do your research on the best way to finance your shiny new car, before leaping into a commitment.
Car Dealerships only offer one financier – that is, one size is suppose to fit all. How do you know this is the best deal you can get? Particularly when they have sold you on the car, pushing you into ‘instant’ or ‘easy’ finance, may seem convenient and get you into the car sooner. However, be aware of the high price tag.
Now more than ever, it is important to have your finance lined up before you set foot in the car yard. By obtaining pre-approval on your car loan, you are in a better position to talk price on the car. And if they don’t budge on price, walk out the door. Competition is fierce and dealers want to move stock, particularly when it comes closer to the end of each month. Or alternatively, look at a private sale car. There is no ‘middle man’ mark up and as long as you know what you are looking for, you can save yourself hundreds even thousands.
There are still plenty of competitive car loans on offer. It’s a matter of knowing where to find them. Since the changes in National Credit Licensing of Finance Brokers, a lot of ‘rogue’ brokers have left the market.
The ones that remain have access to an excellent range of loan products which the normal consumer would be unable to access. Natloans is one of these who for the last 10 years have been putting their clients into great car loan products no matter what your profile is. It’s worth while giving them a call to discuss options are available with an experienced consultant on 1300628562 or visit www.natloans.com.au.
