Car Finance in Perth: Check Before You Sign

There are so many options when you want to get your car financed in Perth, but when it comes to the right options that won’t make you begin to look at your spanking new car like it’s the devil’s very tool – those aren’t quite so numerous. Heed our warnings before you go forth and sign on the dotted line.

• Interest rate: What is it, and is it fixed or variable? The safe option is to go for a fixed one since that makes budgeting a lot easier. You always know what to expect, at least, and that’s often preferable when you’re finding used or new car financing deals.
• Low interest car financing options are available aplenty in Perth, but don’t look at just the interest rate. Look at the term. If you can afford the repayment amounts to pay it off in a couple of years, go for that option. But know what you’re getting into.
• Balloon payment: Is the monthly repayment amount lower than you thought because there’s a big, giant whopper meant for the end of your term? That is not the kind of surprise you need when you’re looking forward to finally calling your car completely yours!
• Extra fees: Sometimes there are extra fees to be paid to your financers, quite apart from your loan. This could be as low as $10 a month, but that really adds up over four years or so.
• Credit protection: Does the scheme you’re looking at give you credit protection? After all, sometimes bad things happen, like – cross your fingers – getting fired. Ask what will happen if something like that happens. Consider loan insurance. Consider whether it’s included in the amount, too.
• Penalties: Now what about if you win the lottery and can pay everything off? You might have to pay extra. You’d better be forewarned. Though if you do win the lottery, the penalties will rarely be high enough to worry you.
• Do your comparisons. But when you do your comparisons, make sure that you find out just what all the loan calculators take into account, and what kinds of payments are included. If numbers are drastically different, it might have more to do with the system of calculation than the actual amount you’ll be paying.
• Stay local as much as you can. If you want to get a new car financed or a used car financed in Perth, stick to Perth. The world might be a global village, but you’re not driving in the global village part of it. You need to be able drop in and talk things out. Getting it all done at one place, from getting the financing to the test drive to getting the actual car, makes it easier to build a relationship in which you can trust. If you keep up with announcements, you can also time it to see if you can test drive a new model after you’re done talking car financing options, if you like. After all, why shouldn’t you enjoy yourself!

It might seem like a long list of warnings, but remember that at the end of the day, a car is both investment and commitment. The time you spend getting the right financing option, whether you go for new or used, will make sure that you don’t ruin the sweet ride with the bitter taste of regret.

If you’ve got more questions, we’re all over social media. Keep up with the latest updates on Facebook or Google, and check out our YouTube channel, too.

Reference : subarucardealers.wordpress.com