Tuesday, 16 February 2016

Things to Think About when Signing for Car Financing

Here are some basics about car financing so that you can go into negotiations knowing what to expect...
Payments - THE biggest component of car finance is the amount you pay back to the bank every month. Tweaking this figure helps to shorten or lengthen the tenure of your contract depending on how much you can afford.
Interest Rates and Fees - Floating/variable or fixed rates affect how much on top of your monthly payments you are paying back to the bank. Sometimes there are additional fees to the dealer or broker as payment for their services.
Options - Check out the fine details of how your car loan works, for example Novated Leases, Hire Purchase agreements, secured and unsecured options, refinancing, balloon payments and tax rebates.
What Happens if you Can’t meet the Obligations - Read the T&Cs carefully to ensure that you know what happens if you miss or default on your payments.
You can make the process a lot simpler with a little help from  The Smarter Finance Company, find out how we can help you with your car finances today.

Things to Think About when Signing for Car Financing