GET THAT NEW CAR SENSATION – Let Loan Market Ellenbrook help you with your new wheels and save you money too!
With so many vehicles and brands to choose from and even more new car options to add on when buying a car, it can be easy to disregard the financing of the vehicle. By disregard, we mean not placing a great importance on the finance and instead, choosing the car dealership finance on the day.
But your car loan is just as important as your home loan (if you have one). Not all car loans are the same and our advice is to shop around for a car loan that not only represents value but that also suits your needs at the time of purchase.
Things to consider when using finance to purchase a vehicle include;
- Term of the Loan. Do you want to pay your new car off sooner using a higher repayment option? Or do
- you want to have a lower repayment but a longer term to pay it? Car loan terms are usually 3 – 5 years in length, depending on the amount of the loan.
- How often do you change vehicles? Are you one of those who holds onto the car until it is “run into the ground” or do you turn them over as soon as they hit 100,000 on the odometer? If you hold onto your cars for longer than 5 years, you may be better off taking out a longer loan, with lower repayment options rather than paying it off a faster rate with higher repayments.
- Is your vehicle going to take you off road and on holidays? Or will it strictly be a city car to run you and your family around in?
- Is this car going to be the primary car of the household? Or a second vehicle for the kids to use as they gain their Driver’s License?
These are just a few questions you will need to ask yourself before you select a finance option for your new vehicle.
At Loan Market Ellenbrook, in addition to car finance, we also offer a car finding service called Vehicle Select. On most occasions, we are able to beat the Car Dealer’s quote for the vehicle as well as provide a lower finance quote than the car dealer.
One recent client obtained a written quote from a car yard for a 'new' vehicle purchase. We sent that quote through to our car find service. They then shopped around for us with all of the major dealers in Perth and came back to us with the best price possible – saving our client $6,500 on a new BMW 251I Sports. This is a free service we provide to all of our clients.
If you are in the market for a new car, call our office on 6296 6007 or send us an email through our website and ask about our finance options and Vehicle Select service!