Afford the Car of your Dreams with the Help of Car FinancingStella Bishops | June 13, 2019 | 0 | Automotive
As cars are one of the most expensive things most people will buy in their lifetime, many people look to banks for help in financing their purchase. Imagine yourself looking around car display centres and online sites for a Honda Civic for sale and you realize you’re way out of your league for your dream car. If you’re lucky enough to be able to pay in cash, then you don’t need to worry about financing, but otherwise, there are two primary places to go to finance your car.
This article helps you understand the ins and outs about car financing and let your dreams of getting that Honda civic for sale from your dreams into reality:
Discover more options for more flexible car financing programs
To get more competitive financing terms, it is often advantageous to shop around before finalizing the purchase of the car. If you’re shopping around for a Honda for sale Brisbane car display shops or online sites offer today, you could not only deal with multiple dealers, but you could also look at rates and terms from multiple lending institutions and banks. Because the car acts as collateral against a loan, most banks will offer better rates on car loans than they would on unsecured loans, and they often have special categories of loans just for car buyers, even if you’re a first-time buyer. If you have a strong credit rating, you’re often in a better position to negotiate the lending rate lower than the posted lending rate for that Honda HRV for sale Brisbane stores sell, so don’t hesitate to stop by your bank in person and leverage your good credit and your banking business to get a difference in the interest rate.
Let the reliable car dealers handle everything for you!
The simplest place to arrange for car financing, assuming that your credit is in good standing, is the various car dealers themselves. They can often make it a more painless transaction for you, as they can help to finalize all the required paperwork together, making it one seamless transaction (like a one-stop shop), and thus far less painful. Of course, you get what you pay for – by streamlining the transaction, you not only have less flexibility in lending rates. But there may also be some hidden costs that would be higher than if you went through a bank. Visit Austral Honda for more details.
What if I declared bankruptcy?
If you don’t have a strong credit rating, if you’ve declared bankruptcy, or have defaulted on previous loans, you may still arrange for financing for a car purchase. Again, because a car acts as collateral for the loan, it is considered a secured loan. Lending institutions are more willing to take a chance with you and provide you with the cash to make your purchase. This is because they can reclaim the car in the case of another default. Be aware that this is considered a higher risk loan and will certainly carry a higher lending rate as a result. But if you’re willing to shop around for your dream Honda jazz for sale and accept less than ideal conditions, you can still drive away with a new car.
So the next time you find your ideal Honda civic for sale in car display shops or in car dealer websites, you should not fret. Car financing always finds a way for you to stick to your budget and stick to your dream car. For starters, you can check out websites like http://australhonda.com.au for flexible car financing. Honda Finance Brisbane has a wide range of flexible finance and car lease products that can be tailored to meet your needs like Personal Financial Options, Consumer Loans, and more Business Financial Options (such as Chattel Mortgage, Commercial Hire Purchase, Finance Lease, Novated Lease).