Car Financing

1. Car Financing

2. If you are planning to buy a car it is prudent to plan your finances beforehand. The most preferred mode of financing a car purchase is to opt for a car loan. Using liquid cash in hand is not a very viable option to finance a car purchase. Liquid money is meant to be invested and not to be expended. On the other hand, a car loan does not make a hole in your pocket as the loan amount is repaid in EMIs. However, with a range of car loans to select from, it is wise to select the financing option that best suits your needs. Also Read: - Buy a Car on Finance • So, if you want to buy a brand new car, check whether you can afford it. Check out the various car loans offers and zero into the one that is authentic and offers the best interest rates along with acceptable terms and conditions. Once everything is in place, the EMIs should not bother you much. On the contrary, if you do not have enough financial inflow to repay the loan amount for the car you want, it is better to either compromise with a low priced car model or else opt for a used car loan. • Used cars are as good as new ones, provided you know the technicalities well enough. Buyers should make sure that a second-hand car is not old enough and has not been used extensively.

3. A six-month-old car that had been running for six hours every day is as good as a two-year-old car. Rather a one-year-old car that has not been used so extensively is a much better bet. Take note of whether the car has any pre-existing physical damages or not. If you are not very sure of the technicalities, then hire an expert who can guide you through the process. • Moreover, the advantage of a used car over a new one is the lower rate of depreciation. A new car, once it is out of the showroom starts depreciating at a much higher rate whereas a used car depreciates at a much lower rate as compared to that. Also Read: - Car Finance for Centrelink Customers

4. Some car financing companies look for the credit record of the customers. A bad credit history might render an applicant ineligible for a loan. Such applicants with a poor credit history need not worry about getting the loan. Many financial institutions offer bad credit car loans. These car loans may charge a higher rate of interest as compared to the general car loans but eventually, it facilitates a hassle-free car purchase. Furthermore, one who has opted for a bad credit car loan can improve his credit history over a period of time and then refinance it with a general loan that has a lower rate of interest. Also Read: - Refinance Car Loan with Bad Credit • Financing a car purchase is not that complex after all. All you need to ascertain is your affordability and financial inflow and then opt for the loan that you are comfortable with.

5. Naked Loans is about providing second chance finance. We offer all types of car loans & insurance for both personal and business use. We have a range of car loan products specifically designed for people who have Bad Credit History. We believe everyone should be given the opportunity to apply for finance and here at Naked Loans, we encourage everyone to apply with our 'All applications considered' policy. To know more about Best Car Loans Australia, Visit us today!