June 15, 2016
Surely nothing can beat 0% interest, right? No, wrong!
Do you remember your parents telling you that you don’t get anything for nothing? As the end of the financial year approaches, car dealerships are keen to promote their 0% car finance deals as they attempt to clear last year’s models off their showroom floor. What can possibly beat 0% finance you ask?
Well, the problem is that your parents were right! You don’t get anything for nothing – because the interest cost of your car loan may already have been factored into the sale price of the car. Zero percent car loans often come with strings attached – potentially including a non-negotiable higher initial sale price for the car.
In addition, such 0% deals usually apply only to certain models in a range, so if you have your heart set on a different model you may be disappointed. There can also be other hidden ‘nasties’ in the car sales contract, such as a stipulation that you have to return the car to the same dealership for servicing if you want to keep your warranty. Such service clauses can add hundreds or even thousands of dollars to the cost of running your car over the first few years.
If you are in the market for a new car, you may be far better off getting a pre-approved car loan for a set dollar value. That way, you can walk into your car dealership with confidence - and start negotiating on price for your dream car straight away.
We can assist you to get pre-approval for your car loan, so you can get the best end-of-financial-year deal on your dream car
At Mortgage Choice Noarlunga, we can assist you to get pre-approval for your car loan, so you can get the best end-of-financial-year-deal, and buy your new car with confidence.
You can decide how much you want to spend on your car in advance, rather than be tempted to pay too much in the high-pressure sales environment of a car yard. Have you thought of using the equity in your home to finance your new car? This may be a cheaper option for you in the long run, and could save you having to take out a separate car loan.
Do you need help finding the right car?
Did you know that we even offer a complimentary car buying service for those busy people who don't have the time to spend trudging around car sale yards? We can find your perfect car for you – to save you the trouble of negotiating with different car yards, and spending hours with pushy salespeople. You can have the car of your dreams delivered to your doorstep – and we won’t charge you a cent for our service if we arrange the finance for you.
Please call Steve now on 0427 390 929 to discuss how we can help you drive into the next financial year with pride!