Low Interest Car Loans
While many are not willing to spend their life savings and pay for a new or used car outright, the good news is that it’s a lot easier to now find low interest car loans with regular repayments that won’t overstretch you financially.
Apply For A Low Interest Car Loan Online
Our online application takes the hassle out of securing your car loan and application paperwork.
By providing all the necessary documents including your employment history and current savings snapshot from the outset we can determine your financial profile – and ultimately source the most competitive car finance options for you, including low interest car loan.
How To Get A Low Interest Car Loan
First time applying for a car loan? We’ve outlined a range of factors that may influence whether you can secure a low interest car loan.
Here are some of the things that lenders or financial institutions might consider:
The Down Payment (Your Deposit)
Basically, the down payment or the upfront payment is the amount of money that you are willing to pay at the outset to take possession of the car. It has the power to reduce the major amount of your car loan or the amount of money that you need to borrow.
For instance, if you have a car that costs $20,000 and you are willing to cover the upfront deposit of $5,000; your principal loan will be $15,000. In terms of the down payment, bigger is always better as it means you’ll pay less interest over time, but it can also help you negotiate low interest car loans. For the new cars, you might want to cover at least 10% as a down payment, while for a used car 20% is a good starting point.
The Terms of the Loan
Loan term states the length of time that you have to pay back the lender. A regular loan term can extend from 1 year up to 5 years. However, it is still possible to find low interest car loans that have longer or shorter terms. Those who choose to spread their loan over a longer period can expect to have a lower repayment.
The Type of Vehicle
The principal loan is generally lower to those who choose a used car. However, it is still possible for you to acquire low interest car loans when you are looking for new cars. This is due to the fact that most lenders will find it hard to resell the used car if you fail to repay your loan.
Your Credit History
People with better credit history will also get better deals on car loans – including lower interest rates because you have a stronger financial history and track record repaying other loans or bills.
Getting pre-approved with the lender is important before you push ahead with your car shopping. This will make the entire process less stressful especially for the people who hate to negotiate. Having low interest car loans will help you get a better deal on your cars. This is simply because you have a bargaining chip.
Car-Loans offer competitive rates to their clients. Time and time again we see clients able to secure favourable finance rates through us compared to the loans offered by the banks and other financial institutions.
Car-Loans.net.au is proudly brought to you by Aussie Loans.
We take the stress and hassle out of securing a car loan. Speak to one of our friendly team today about finding car finance rates to suit your personal circumstances. We have access to more than 20 different lending products from major banks to financial institutions which means we can pinpoint the best car loan based on your needs and situation.