If you want to splash out on a new car, make the finance process as simple and streamlined as possible and apply now with Find That Finance. We strive to make the process of getting a loan easy and hassle-free!
With the guidance of your own specialist broker, you will have a choice of a tailored car loan and finance package to meet your individual needs and financial circumstances and you'll be enjoying your new vehicle in no time!
As well as striving for impressively low interest rates, our finance brokers and lenders provide a personalised, fast approval process. Your interest rate is locked in for the term of the Loan.
1. What is a car loan?
A car loan is a type of loan that is specifically designed for purchasing a car. The lender will provide you with a lump sum of money, which is paid directly to the seller regardless of whether dealer or private person, you will then pay back with interest over a set period..
2. What is the difference between a new car loan and a used car loan?
A new car loan is designed for the purchase of a brand-new car, while a used car loan is designed for the purchase of a second-hand car. Interest rates and loan terms may vary depending on whether you're purchasing a new or used car. The age of the vehicle which is used as security is a determining factor in what rate a lender will offer you.
3. What is a secured car loan?
A secured car loan is a type of car loan where the car itself is used as collateral against the loan. This means that if you fail to repay the loan, the lender has the right to repossess the car.
4. What is the difference between a fixed interest rate and a variable interest rate?
A fixed interest rate remains the same for the entire loan term, while a variable interest rate can go up or down depending on market conditions. All car loans currently sourced through Find That Finance from one of their many lenders have fixed interest rates which provide more stability and predictability in terms of loan payments.
5. How much can I borrow for a car loan?
The amount you can borrow for a car loan depends on various factors such as your income, credit score, and the value of the car you want to purchase. Our brokers can help you determine how much you can comfortably afford to borrow. The minimum loan is $5,000. You must be working and over 18.
6. How long can I take to repay a car loan?
Car loans typically range from 3 to 7 years, depending on the lender and the amount you borrow. Shorter loan terms may result in higher monthly payments, while longer loan terms may result in more interest paid over time.
7. Can I prepay or pay off my car loan early?
Yes, most lenders allow you to prepay or pay off your car loan early. Depending on the lender for a secured car loan, early termination can incur fee, If, you take out an unsecured personal loan to buy a car, then generally this can be repaid without penalty. This can save you money on interest charges and help you pay off your loan faster.
At Find That Finance, we want to make the car buying process as easy and stress-free as possible. Our brokers have years of experience in securing car loans and finance packages for our clients. Contact us today to get started on the road to your new car!
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Recent Blog Post:carloans-ultimate-guide
Getting your first Car Loan Read our Blog Post and watch the 14 video's on the subject: The Beginner's Guide to Securing Your First Car Loan
