Read about Car Loans

Car loans are generally taken by individuals as opposed to businesses and can be used to finance the full cost of the purchase including the on-road costs, insurance, warranties and even loan protection for the car loan itself.

Some general features of Car Loans:

A car loan can give you immediate use of the car of your choice in exchange for regular payments over an agreed period of time.

Some general features of car loans are detailed below. Not all car loans contain these features. Before making any decisions on the features you want, make sure your financier offers them.

 Payments can be structured to suit your requirements.

 Registration costs, On road costs, loan insurance & comprehensive vehicle insurance may be able to be financed on the loan contract.

 Terms normally range from 12 months to 5 years. You may be able to elect to makemonthly or fortnightly repayments.

 A deposit may not be required, however should you wish to make one you will benefit from either lower repayments or a shorter term.

Benefits to you:

 If you also use your car for business purposes you may be able to claim part of the interest and depreciation charges as expenses against your taxable income.

 Payments may be able to be made by direct debit from your nominated bank account.

 You may build up equity in the assests.

 Fixed payments for the term of the agreement allow for more accurate budgeting and protect you against interest rate fluctuations.