Aussie Car Finance
Car finance in Australia

Loans for personal and business cars.
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This months tip:
Check that you interest rate is effective and not flat. A flat rate of say 7% will equate roughly to 14% effective. Always check the total amount of interest to be charged on the contract. If you have more than one loan, always pay off you highest interest rate loan first.

Welcome to Australian Car Finance information. Owning a nice car can have its problems - one of the main difficulties owners face is having to obtain correct finance and to comfortably service loans for their cars.


Always be aware that most cars depreciate quickly and you may be paying off an assets that is shrinking in value. The ideal situation is to purchase an asset that increases in value such as real estate, however with car this is unlikely to be the case. Therefore try not to take your loan over the longer term of 5 years - get it paid off quickly so that at least you have some equity in the vehicle.

Always be aware that you car is only worth less when you go to sell - perticularly to a dealer who has to take the finacial risks invloved with the reselling of the vehicle and of course they have to make money on the deal to survive in business.

Purchasing a Car:
If you haven’t found a car yet, you should consider getting pre-qualified (a lender will review your financial history before you find a car) or pre-approved (a lender will check your credit and provide you with a letter stating that you’ve been pre-approved for a certain amount). This gives you added confidence in the negotiating process as it is one less hurdle to clear and you know what you can afford.

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