Sunshine City

Top 5 Car Finance Tips

  • Written by News Company



It’s an exciting time if you’ve decided that you’re ready to buy a car and you’re looking into car finance. It can be a little overwhelming deciding which car finance option is right for you so it’s always good to get some top tips about how to get the best car finance for your situation.

  • Know your credit rating

Many people aren’t even aware that they have a credit score. If this is you, it’s time to get familiar with your credit rating by asking one of the top credit bureaus to see your credit file – this is free and easy to do so there are no excuses.

Once you know your credit rating, you’ll know where you stand and what you can expect to borrow. If you have a bad credit rating, you may need to work with specific lenders.

  • Don’t make multiple applications

It’s very easy to make multiple applications for car finance – especially with online forms being quick and easy to fill out. Yet this can really damage your credit rating as all applications will be recorded and can be seen by potential lenders.

Don’t raise alarm bells by having multiple applications for credit on your financial record.

  • Understand the different types of loans

There are lots of different types of car finance – it’s easy to feel slightly daunted by the amount of options available on the market, but you need to make the effort to understand what the different ways are of borrowing money to help you buy a car.

Start by understanding secured and unsecured loans, and also consider your individual circumstances – such as whether you’ll be using the car primarily for business or leisure purposes.

  • Budget carefully

Too many people agree to a car finance deal and then find out that they have stretched themselves too far financially. This can lead to you defaulting on a loan, which in turn affects your credit rating and your potential for borrowing in the future.

Create a spreadsheet considering your monthly income as well as all of your monthly expenses. Figure out how much you can realistically dedicate to spending on car finance.

  • Consider other costs

Remember that you don’t just need to pay back the price of the loan each month. You’ll also be paying interest (find out whether a fixed or variable rate is best for you).

In addition you’ll need to consider monthly running costs of the car such as fuel and maintenance as well as the cost of essentials such as insurance for your vehicle.

Real Estate Agents vs. Realtors: What's the Difference?

You're looking to buy a home and you've decided that it's time to hire professional help. Whether you're a first-timer or a repeat buyer, the decision whether to go with a real estate agent or a realtor can be pretty confusing. Let's take a closer look at the difference between agents and those ...

7 Ways Technology Is Changing Pool Maintenance

As time goes on, technology advances as well. New inventions are created every single day to cope with the needs of the people. This is especially true in pool maintenance which is very beneficial to pool owners all around the world. In this article, we’ll list down the ways technology is chan...

How To Choose The Right Robotic Pool Cleaner

Several inventions today make swimming pool cleaning and maintenance a breeze. One of them is a robotic swimming pool cleaner. This may be a costly investment, but it pays off in due course. Well, that’s because it gets the job done quickly and efficiently. If you are planning to buy one, you ...

Experience A Seachange with your New Business in Australia

Business owners often dream of what it would be like to have a change in life. At Bsale, the team are receiving thousands of enquiries from buyers looking to relocate, especially in the wake of COVID lockdown restrictions. Perhaps they are tired of the big city and want to move to a coastal tow...

SunEnergy breaks into WA solar market

SunEnergy has expanded their company services into the Western Australian market following strong growth during 2020/21 and predicted future growth for the solar industry in Australia.  Director of Operations for SunEnergy Mrs Chantha Lake said, “the solar industry is forecast for continued ...

Sunny skies leaving Aussies in the dark

Abundant sunshine and high energy prices have made solar a popular choice in Australia. As of 31 Oct 2020, more than 2.5 million rooftop solar power systems had been installed across the country1. However, according to the Clean Energy Regulator (CER), around one in five (18%) solar systems ar...

Why You Should Be Using Solar Energy

We’ve known for a while now that renewable sources of energy are the future. We’ve been learning about them in schools, and listening to interviews with experts on how and why they’re better than the fuels we’re using now. But most of these often have complicated terms, which is why we...

Appeals process needed in Solar Retailer Code

The ACCC is proposing to require inclusion of an appeals process in granting re-authorisation to the Clean Energy Council’s Solar Retailer Code of Conduct. The Solar Code sets minimum standards for retailers selling solar photovoltaic (solar PV) systems to consumers. To be an approved...

Battery World franchisees empower community during pandemic

Australia’s leading battery retailer, Battery World, has powered through the COVID-19 pandemic, with franchisees recognising their pivotal role in delivering essential products and services to communities, keeping them recharged and safe on the road, in the office and at home.  Battery W...