New Car Finance Options

Posted by admin in Car Finance on July 2, 2011

Dealer finance

If you require new car finance when buying your vehicle from a dealer, you may consider dealer finance to be a convenient and simple solution to the problem. Just be aware that this convenience can cost you.

New Car Finance OptionsDealer finance generally has a higher interest rate that the more competitive products financial institutions offer for new car finance. It can also come with extra terms and conditions, such as a hefty fee for paying out the loan early.

There are many other options available to you so take the time to shop around before signing anything when looking for new car finance.

Commercial Hire Purchase

A Commercial Hire Purchase (CHP) is suitable for companies, partnerships and sole traders who account for GST on an Accruals basis, and individuals using the vehicle for business purposes. Read the rest of this entry »

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The Top 5 Reasons Car Finance Approval Is Denied

Posted by admin in Car Finance on July 2, 2011

It could be said getting car finance approval is easy, easy until you actually apply. In itself applying is very straightforward and many applicants will make an application before considering what actually goes on in the approval process. This rush to apply can actually make the approval process take longer, so here is our list of the top 5 mistakes that are made when applying for car finance.

The top 5 mistakes when making an application:

1. The applicant can’t afford to make repayments. A simple use of an online car finance calculator could have shown this. Hint: Buy a cheaper car or another applicant on the loan could solve this.

2. Having bad credit: Some types of bad credit will be accepted by a lender, but an applicant needs to consider their credit history before choosing which lender to apply to. HINT: If you have a VERY poor credit rating, apply at the companies that advertise to help people in your situation. If you only have a couple of smaller defaults that have been paid you should be OK at a wider range of lenders. Read the rest of this entry »

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