Us Australians love our cars. Our love affair with the automobile runs deep, passed on through successive generations of car fanatics. Race car drivers are national heroes and the cars themselves have proven to be just as iconic.
A car represents freedom, grand journeys and the ability to cruise this great vast land with relative luxury and ease. Now has never been a better time to purchase your dream car. The market is rich with potential new rides, ready to take you home and onto the next adventure. So, you have been daydreaming about your next car? are you ready to take the next step and make it yours? Finding the best car loan for your situation can be highly advantageous, and while you’re at it, it’s important to find a vehicle extended warranty to keep yourself protected.
Getting personal
Depending on what kind of car you have your eye on, one of two types of car loan will be available to you. As with any loan, a car loans interest rate is calculated based on the potential risk to the lender. If your credit history is less than stellar, a loan may attract a higher rate of interest as your history indicates you have a higher chance of missing payments etc.
When it comes to cars, some purchases are riskier too, an older model of car is very hard to value as it contains a lot of unknown variables, it could be a gem… or it could be a lemon. If you have poor credit history or the car you wish to purchase is less than $10000, you will be limited to a personal loan. A personal loan is risky to the lender and attracts a much higher interest rate than a secured car loan.
It’s not all doom and gloom for you though, a personal loan is an effective way of making the desired purchase quickly and can help rebuild a bad credit rating. For a local lender with real people on the phone give Newcastle Permanent Building Society a call today for the best car loan rates.
Safe and secure
If you are looking to purchase a shiny new or late model car than you can apply for a much more appealing, secured car loan. This type of loan uses the car to be purchased as a security against a default on the loan. All of this means that the risk to the lender is lower, and so are your repayments! A secured car loan attracts the best rates of interest and is designed specifically to make the purchase of a new car achievable and manageable.
There are many institutions offering secured car loans so compare interest rates carefully and never be afraid to contact a lender and negotiate a better interest rate. A local lender like Newcastle permanent can be a good choice for a secured car loan. Whilst there are other more complex types of financing options, a secured car loan can be one of the smartest ways to get behind the wheel of a new car.
To many Australians a car is a vital companion that is used every day and relied upon to get them where they are going safely. If you are looking to purchase your first car or don’t have a credit history, a personal loan is an excellent way of getting mobile quickly. The used car market in Australia is healthy and full of pristine vehicles.
If you have been salivating over that brand-new ride and are ready to make dreams reality, a secured car loan is a fantastic low interest way to get what you want. More than just a tool, cars are interwoven into Australia’s cultural fabric. Hitting the open road and exploring this sunburnt country in your new car is easier than you think.
