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Car Loans

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dfcatch

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Any suggestions for good car finance ?

Last time I financed was Esanda but that was years ago
 

Mr_Orange

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Any suggestions for good car finance ?

Last time I financed was Esanda but that was years ago

My last finance (2 years ago) was through the dealer but it was St George in the background. The rate was competitive and ISTR that the account keeping fees were reasonable.
 
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Blackswan

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I recently looked at options, including my bank (yes, that one) - who I have my mortgage with. They were 3% more than what Nissan were offering in house - so I went with the Nissan option.
 

gaz0303

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I had a good experience with a broker service - Statton Finance. The best option they gave me was Alphera (BMW finance, I bought a Subaru). Ended up a single % or more lower than what I could find listed publicly with other finance providers.
 

Warks

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Is leasing a better option? Just asking. I've only ever paid cash for cars. But leases that include everything are appealing to me for my next car.


The car manufacturers offer rates like "2.9% comparison rate" on their ads but what does this mean? Seems to be a lot of fine print. Car loans from dealers used to be credit card type rates - one third deposit and around 20% interest. Plenty of people got taken in on those 'deals' I bet. Because it would have been offered as "from as low as $59 a week!!!"
 
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Mr_Orange

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Is leasing a better option? Just asking. I've only ever paid cash for cars. But leases that include everything are appealing to me for my next car.

Leasing is not the bargain it appears to be, especially if it is your intention to own the car outright. In which case you are better off on personal finance.

If you are planning to always chop in a lease car for a new one every three years then it probably works.
 

Princess Fiona

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Leasing is not the bargain it appears to be, especially if it is your intention to own the car outright. In which case you are better off on personal finance.

If you are planning to always chop in a lease car for a new one every three years then it probably works.

I lease my cars. I like the convenience of having everything sorted for me and I get a new car every 4 years.
 

Mr_Orange

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I lease my cars. I like the convenience of having everything sorted for me and I get a new car every 4 years.

Yep, so you fit into the second category I mentioned, in which case it works. Although once on the merry-go-round it is difficult and costly to jump off.
 

Hammando

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Any suggestions for good car finance ?

Last time I financed was Esanda but that was years ago

I work in Equipment Finance so know a bit about this.

Always get a quote from the dealer, they are often very competitive. Always get a couple of quotes and be sure to have them include details on any establishment fees etc, as the lowest interest rate doesn't always work out to be the cheapest.
 

Hammando

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Toyota and Lexus often have deals at zero % or very close to zero rate during each year.

These aren't always the great offer they seem to be.

I bought my Lexus when they were running one of these 0% promos. Thanks to a friend working in corporate he asked the dealer to give me a good price.

At the price I was given the 0% interest rate offer could not be extended to me, but financing at market rates still worked out cheaper. This was before considering any tax deductibility for the interest.
 

cove

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Two years ago Toyota Camry ran a 0% offer for 4 years and we bought it for the olds. I tried to get the reduced cash price but it stayed the same number so the deal became 48 months and a finance registration fee of a few dollars.
I get my Lexus 2 years old and 40,000 kms for around half the new list price and I pay cash and Mrscove gets her Lexus new for cash.
 
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