Buying a new car can be an expensive undertaking and many of us lack the funds to purchase a new vehicle outright. So it’s fair to say that when choosing to purchase a new vehicle most of us will have financing options on our minds. Luckily many dealerships offer trade-in deals on your existing vehicle which can cover a reasonable portion of the down payment. The remainder will usually require some kind of car finance, Perth drivers may be surprised to learn that there are many solutions available. Here are three tips that will help you to choose the best new car finance Perth has to offer.
1. In House or Outhouse
OK, the subtitle is a cheap joke, but the premise is sound, as loans secured via a bank are inflexible making them poorly suited to car finance. Perth drivers may find better solutions using new car financing from their dealership. Make sure that the dealer has access to a reasonable variety of lending institutions. It’s a good idea to work with the dealer to choose the right payment plan for you. Be honest here, as the financing needs to be realistically affordable and you must negotiate the best interest rate that you can. Another great reason to choose financing from the dealer is that buyers with a poor credit history have a better chance of securing a direct loan over using a bank.
2. Get Plenty of Local Quotes
Even in this age of financial hardship, many people still don’t do their due diligence and end up losing money. Don’t let this be you and make sure that you don’t take the first deal that you’re offered. Instead visit a few local dealers and ask for some written quotes that you can peruse at your leisure. When researching new car finance Perth drivers can save money, but it will take some time and effort. It’s important to take note of any special deals on financing that are available and take full advantage of them. This also highlights the importance of using a local dealership, as they are easy to visit even during a lunch break or after work, which will make you more informed and save your time.
3. Securing the Loan
Once you have decided on a financing option it’s time for everyone’s favourite part, paperwork. Come to the appointment prepared with proof of income, tax returns and any paperwork pertaining to current debts. You will also need your driving license and proof of home-ownership (if you have one) or a recent bill (if you’re renting). It’s easy to switch off and just sign whatever is put under your nose at this point, but it’s important to pay attention. Ensure that you’re getting the interest rate that you were quoted and that the payment plan that you have arranged is correct. Having all this information to hand will ensure that the paperwork can be processed smoothly.
As you can see when searching for car finance Perth drivers can be pleasantly surprised by the deals on offer. However, it’s important to do your research and secure the right deal that is affordable now and in the future. If you would like to know more about car financing in Perth contact us, we are experts in the field and we can answer any questions or queries that you may have.
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