Can You Pay Off a Car Loan Early?
Yes, you can pay off your car loan early. However, a better question is whether you SHOULD do so. There will usually be a cost associated with the early repayment of a car loan and ideally the savings in the future would outweigh these costs. But there is much more to consider than this. What […]
Is a Car Loan a Personal Loan?
The fast answer is that a personal loan is more of a general-purpose cash loan that you are free to spend at your discretion. There is nothing stopping you from purchasing a car with the proceeds of a regular personal loan. But this is usually an option of last resort. A car loan is strictly […]
Should I get a Car Loan: Buying in Cash vs Auto Finance
A car loan can be a useful tool even if you have the cash savings to buy a car outright. There are benefits to paying cash for a car – saving the interest and fees associated with a loan being the obvious one – but have you considered what else you could do with that […]
How Car Loans Work: Complete Guide to Auto Finance
A car is often one of the largest purchases someone will make in their lifetime. The upfront cost can be tens of thousands of dollars is unattainable for most in terms of cash savings. By taking out a car loan you can access the car of your dreams and spread out the cost over a […]
What is a Comparison Rate Car Loan
Comparison rates are a tool that is designed to help borrowers understand the real cost of their car loan, and compare different loan options quickly. While well intended, the number can still be misleading when trying to find the best car loan for your situation. A lower comparison rate may not mean a cheaper car […]
How Old Do You Have to Be to Get a Car Loan in Australia?
In Australia, there is a small window of time when you are old enough to drive independently with a provisional license, but not old enough to get a car loan. So unless you have generous parents who are prepared to buy you some wheels (and let’s face it, it will still be an old bomb) […]
Can You Get a Car Loan After Buying a House
Buying a house requires most people to take on the largest debt they will ever have to repay. It also requires lots of saving and paying down debt just to get approved! Once that is taken care of you now have the freedom to take on additional loans without the consequence of preventing home ownership. […]
What is Car Loan Pre-Approval
A car loan pre-approval is provided by a lender who has already assessed your financial situation and is generally willing to provide auto finance. However, they do not yet know what car you plan to buy and are unable to complete a contract offering you the loan. Instead, a letter of conditional approval is provided […]
Can I Get a Car Loan with only Casual Employment?
More than 20% of the Australian workforce is casually employed. This can often mean fluctuating work hours and no personal leave entitlements. Both can make take-home income hard to predict and make it more difficult to get a car loan. There are plenty of lenders who lend to those with casual income but there will […]
How Long Does it Take for a Car Loan to be Approved?
The approval time for a car loan depends heavily on how suitable your application is for that specific lender, and how complete your application is. If your application is outside of a bank’s credit policy they may be slower to give you an answer which could ultimately be a rejection. Whereas with another lender you […]