I'm looking to sort out some finance for a car I am buying (loan approx $21,000) and have spoken to these people. Anyone know if they are any good?
Anyone used carloans.com.au?
Brianqpr on 07/03/2016 - 10:22
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They're just middlemen between the lenders and yourself so unless their rates and conditions were wildly better than the more direct options I wouldn't bother with them.
I'd check with the dealer and your bank and see who can give you the best rates and conditions. Both your dealer and the bank have skin in the game already - carloans.com.au don't so I don't know why they'd operate within your best interests.
What they have quoted me so far is not that exciting. They quote what sounds like a very low rate but the actual repayments relate to a significantly higher comparison rate.
A couple of credit unions have good rates and the dealer offer isn't too bad either. Will probably go with one of them.
credit unions are pretty good to deal with
but remember, it's not the headline rate that is the main factor…..all the other hidden sh!t hurts
it would be better to buy a cheap car for cash and save your money till you can afford to pay cash for your $21000 car. or you can live with the loan for years and lose the chance of saving that money for other things you want. like furniture, rent, house etc.
Car is $32k but trade in gets it down to $21 for the finance. The trade in car has shopping centre car park type marks and dents so I can't be bothered to try and sell it privately. If the bodywork was better I would. Anyway I think we negotiated a pretty good deal in the end, $3,500 less than the first changeover price they offered.
While what you say makes sense, our savings discipline is simply not up to the task!
all good. all the best. 9000 for a tradin is good if the car is worth 21K from comparable sales.
Why not dealership or a bank loan?