Car Loans

Personal

  • Are you looking at buying that new car you’ve had your eyes on?
  • Worried about the repayments?

Don’t stress, here at Auswide credit & Finance we have a wide variety of structured finance designed to make sure the repayments are affordable for you. So, sit back relax and we’ll find the right loan for you meanwhile you go car shopping.

Business

The facility is called a CHATTEL MORTGAGE, if structured correctly the tax benefits involved in purchasing a vehicle for business purposes are excellent. If you are an ABN holder the facility can be very useful. There are 100% Finance options depending upon your situation. With and without balloon options available aswell. Contact us to discuss these options in more depth. Remember all of this is subjective to each individuals’ situation.

Depending on your level of business use, the tax benefits include:

  • Claim GST on the purchase price in your first Business Activity Statement, if you’re GST registered.
  • Claim the interest on the finance as a tax deduction.
  • Claim the depreciation, up to the depreciation limit, as a tax deduction.
  • Claim the running costs as a tax deduction.

Car Loan Interest rates: What you’re not told!…

You see advertised many times  Car Loans from 4.8% ! Most people look and search for the lowest rate. Everyone calls in and asks all the time ” What’s your lowest interest rate?” But here’s the thing: There is a difference between the rates that you see advertised, compared to the interest rate that you actually qualify for. The final judgement on the interest rate comes down to your individual risk profile and how its presented to the lender. In essence if you own a property, have an excellent work history i.e Full time employed for a long period of time or run a business and you have a good income to expenses ratio as well as a clean credit history, you’ll find a good interest rate. However, in the event that you’re casually employed, been in that position for a short period of time. Maybe some credit issues you’ll find the interest rate you qualify for might be higher due to your risk profile.

Now it’s important to understand that every lender adjusts their interest rates according to there own criteria. So, one lender might have a lower advertised interest rate but could work out to be much more expensive than another lender, once your personal situation and current risk profile is taken into consideration.

That is why you should not be getting all excited about a low interest rate that you’ve seen advertised on “comparative websites”. As they don’t mean much until you have actually been quoted as each individual is subject to the interest rate that they qualify for. What you should be focusing on is “what will be the most affordable repayment for me.”

ASK US AND WE CAN ANALYSE AND COMPARE FROM A WIDE RANGE OF LENDERS FOR YOU.

HOWEVER, WHEN YOU CALL DON’T ASK “WHAT’S THE BEST INTEREST RATE?” BUT RATHER, “WHAT IS THE BEST REPAYMENT STRUCTURE I QUALIFY FOR?”

Looking for a Car Loan?

Contact Auswide Credit & Finance today!