New Car Loans…I Should Be Terrified, Right?

There is a very suspicious noise coming from under the hood of your car. You could investigate, but, it’s still running, yes? No detectable wobble. No blinking red light communicating disaster at hand. All seems to be well. That is until the engine of your poor old clunker drops out in the middle of Oxford Street. What now? Fixing a major problem in an old car usually costs more than the car is worth. There are always other clunkers to buy, but clearly you are tired of these automotive disasters waiting to happen. “What should I do?” you ask yourself. Suddenly, an exciting idea comes to mind. Could it be? Have you matured enough to purchase your first new car?

Welcome to the world of new car loans. If you’ve never purchased a new car, this can be an alarming endeavor. “What if my credit’s not good enough? I never paid the doctor who tried to put me on that weird diet to lose 10 pounds, and I’m always asking for an extension from the Gas Company…” Your inner monologue blows up with these nightmarish credit scenarios until a visit to the New Car Dealer seems as terrifying as an evening stroll in the local graveyard. Take a long cleansing breath and chill. Financing a new car is not as hard as it used to be, and with a little help from the right finance company, it can be a walk in the bush.

Figuring Out Your Budget

The obvious jumping off point for your journey to a shiny new vehicle of your own is to sit down and (honestly!) figure out exactly what you can afford, both in the cost of a new car and in monthly payments to the finance company. Don’t forget to figure in insurance (If you finance a car, you’ve got to go for full coverage.), gas, a small amount towards maintenance (tires, oil, etc…). Next, decide which car is going to be your very first financial ball and chain (just kidding). Your very first shiny new vehicle! Don’t get carried away. Try very hard to make a wise and judicious choice, avoiding all of the 12 cylinder road monsters that look so very, very tempting. Okay, go a little crazy. If you want snazzy, choose a bright color or the sporty version of a sturdy, dependable model.

Once you’ve made your choice, it’s time to find a company that will finance you. You can find a financier yourself, or most automotive dealers can give you some direction. It’s possible to check your credit yourself and try to clean up any problems before meeting with your potential financier, but be prepared to be honest and upfront about those nasty nicks that show up on your credit report. In today’s market, there are many ways to creatively finance your first car, and even if your credit is not stellar, possibly using a co-signer, or paying a bit more may be options for you.

So chin up. Steel yourself, take a breath and march in to your local dealer to purchase your first new car. Next it will be your first home, wife, kids, old age, infirmity and death. Good on ya, mate.

Need Finance has been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals. Go to http://www.needfinance.com.au to find out more now.

Motorbike Finance Can Help You Attain the Perfect Ride

You’ve spotted the perfect ride, the motorbike of your dreams, but you don’t have the cash on hand to purchase it outright. So, that means dealing with motorbike finance. How you go about finding financing can make a difference in how much you pay for the new bike and whether it will be a smooth ride.

When you’ve determined that you do need help with motorbike finance, the first step is to shop around for the best deal. Determining what makes your best deal will depend on how much you can afford to pay each month. Monthly payments, in turn, depend on the length of the loan and the interest rate charged. These will also determine how much you eventually pay for the bike, so shop around for the best deal for you and your circumstances.

There are various sources for bike finance, including the dealership, a bank or credit union, finance companies, or the motorbike manufacturers, such as Honda or Yamaha. In general, here are the major points for each type:

  • Credit Card – Experts don’t advise buying a motorbike on your credit card, even if you have a large enough line of credit. Using a card does allow you to avoid filling out motorbike finance applications and going through a credit check, but interest rates can be much higher than other options, which will mean paying much more in the end for the bike.

  • Dealerships – Most dealers offer some kind of financing, with interest rates that will depend on your credit history.

  • Manufacturers – These loans also will depend on an individual’s credit history and current financial situation. At times, the manufacturers will offer special deals on the financing of certain models they may want to move.

  • Finance Companies – You should visit your bank and review the offerings of finance companies before you sign on the dotted line. Banks can offer better interest rates if you are a regular customer and hold other loans with them. Finance companies, however, specialise in vehicle loans and can offer lower rates for secured loans or more flexible terms in unsecured loans.

Those with a less than stellar credit history probably still can secure motorbike financing through a finance company, though that will be taken into account and probably will mean paying a higher interest rate. Still, if you want that perfect ride, go online to check out the options and flexibility available at such motorbike finance companies as http://www.NeedFinance.com.au.

Need Finance has been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals.

Car Loans: Helpful Insights To Consider Before Taking Out A Car Loan

If you are like the majority of prospective car buyers, you’ll need financing to buy your new car. Car loans are often the easiest way to own the vehicle of your dreams. They enable you to pay back the loan amount in instalments over a period even as you use the vehicle.

While searching for a loan, you will need to keep in mind some essential points so that you get exactly the kind of financing you need and do not end up paying more than need to.

Can I Afford A Loan?

This is the most important question you will need to consider while thinking of buying a car. You must take a realistic view of your income and expenses and determine a monthly payment that you can afford. Go for a loan only if you have sufficient money left to make monthly payments.

Pre-Approved Financing

Before you begin your search for your dream car, shop around for different lenders. It is a good idea to get pre-approved for loans before you begin searching for a vehicle. This will give you a better idea as to the type of cars that fall within your budget.

Good Credit History

Car loans can involve a great deal of money and your borrowing terms will depend on your credit history. If you have good credit, chances are that you will qualify for a larger loan amount with lower interest. It is important to understand the fine details regarding the loan before you sign any paperwork. This will save you a mountain of unnecessary headache down the road.

Opt For A Down Payment

Although most lenders do not require you to make a down payment, you can opt to do so, as it helps reduce the loan amount as well as interest. This in turn decreases lender’s risk and makes the loan approval process easier.

No matter which type of car you wish to buy, a car loan can be a saving grace. It offers an opportunity to buy a nice new shiny car that you may have otherwise been unable to afford. When considering everything, keep in mind that the best loans are those that are affordable and help keep costs low enough to make it easy for you to repay. It is best to weigh your options carefully before you make your purchase.

Need Finance has been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals. Go to http://www.needfinance.com.au to find out more now.

Car Financing May be the Solution to Your Transportation Needs

If you’re in the market for a new or pre-owned car, understanding the benefits of financing your new ride may help alleviate some of the stress that comes with making a car deal. You will find car financing available from many sources including the dealership where you’re making your purchase, your local banks, credit unions, and, of course, online lenders. Different lenders will have varying interest rates and terms, (the length of the loan). They will also differ in what they will allow to be included in your loan such as, chemical treatments that preserve your vehicle, service contracts, (warranties), maintenance contracts, Credit Life and Disability Insurance, and Gap Protection that covers the difference between what you owe and what an insurance company will pay in the event of an accident.



Why Would You Get a Vehicle Loan?



Getting a car loan will allow you to drive a better car or truck than you could if you made your purchase with only the money that you’re putting out up front, or rather, your down payment. Some lenders will require little or no money down based on your credit history, so you’re initial outlay of cash to drive a nice car may be very little. Many people that have the ability to pay cash for a car get financed and put their money into an investment that will create a profit to offset their payments.



What Happens if I Get Hurt or Sick and I Can’t Repay the Loan?



There are several financing tools that will serve to protect you and the lender from calamity. If you’re injured or die during the term of the loan, your contract will still be valid and the debt will need to be fulfilled. Credit Life and Disability Insurance is designed for just this situation. With CLDI, your loan payments will be made for you if you are unable to work due to injury or illness. If you were to die before paying off your loan, your family, or whoever is in charge of your estate, will then be liable for your debt unless you have this relatively inexpensive insurance.



You Can Even Insure Your Car’s Future Value in Case of an Accident.



Another insurance that can save you from significant debt is Gap Insurance. This is to protect you from depreciation of your vehicle. If your car is totalled, the insurance company will generally pay you the current market value of the vehicle, which, in many cases, can be well below what you still owe on your loan. You will then be required to make payments on a car you no longer have. With Gap Insurance, your loan will be paid off.



Mechanical Breakdown Won’t Even Cross Your Mind.



Service Contracts are another form of insurance. A service contract will cover the cost of repairs for mechanical breakdowns. These will vary greatly with what is covered and what is not. There are two kinds of service contracts – an inclusionary contract, which lists what parts are covered, and an exclusionary contract, which lists what parts are not covered. Exclusionary contracts, although more expensive, generally offer the better protection. A good way to look at a service contract is that it allows you to spread the cost of the inevitable repairs your vehicle may require over a long period of time. The peace of mind you get from knowing that you won’t have any large out-of-pocket repair expenses to disrupt your budget is worth every penny.



Car Financing Can Make or Break the Buying Experience.



The lender you chose to use for your next purchase can have a significant impact on your buying experience. It is very empowering to shop for a car when your financing is already arranged. Shopping for your next car is now easier than at any other time in history. If you’re ready to ditch your hoopty and roll in style, a good place to start is right here,http://www.needfinance.com.au/.  

Need Finance have been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals. 

Need a Boat Loan? Make the Right Choices Today

Are you considering the invigorating freedom of hitting the open water in your very own boat? Getting a boat loan isn’t the same as obtaining a loan for personal use, a car, a home, or a business. Boat loans are an entirely different species. You will usually need to have very good credit, or risk very bad rates, to obtain a boat loan. Even credit scores that would buy you a house won’t buy a boat, so if you are looking to buy one, consider your credit history. Is it good, and if not, do you want a boat more than you want the money lost to interest rates as high as 19%?

Assuming you do have good credit, the money is definitely there to lend, from private banks and institutions to boat show credit unions. Boats are big business, and you could be the next lucky person cruising away from the shore on their very own boat.

What Makes a Good Boat Loan?

So what should you be looking for if you’re looking to leave life on land behind? There are a few markers for a good boat loan that you should always be searching for.

  • A Good Rate – Assuming you have great credit, don’t accept the idea that a boat loan must be given at a high rate merely because it’s a luxury item. There are loans available for those with top notch credit that are incredibly competitive, from under 3% to under 6%. If you are a qualified buyer, there’s no reason you can’t demand these kinds of rates. Scour the local banks, credit unions and other lenders until you find a rate that is competitive.

  • Secure a Boat, Not a Loan – If you have less than stellar credit, a lender may present the idea that you need a secured loan. This is not ideal, and if you have good credit, there’s no reason to let a lender talk you into a secured loan and taking out liens against your brand new boat. Collateral shouldn’t be a requirement if you are a qualified buyer.

  • Good Customer Service – If you are a person considering the purchase of a boat, it’s very unlikely that you’re singular among your friends. Seek out their experiences when buying their boats and consider the lenders they used if their recommendations are good. If you are pursuing a large loan, it’s in your best interest to use a financer with a history of good customer service.

  • The Ability to Choose – Sometimes, boat loans come with stipulations. Loans will cover one kind of craft, but not another. It’s true that some watercraft are difficult to find lenders for, but this should not always be the case. Search for a lender willing to consider all kinds of boats, including those that aren’t always covered. It may not be possible to find a lender, no matter how hard you look, that will finance your driving desire for a high performance craft - but you should be able to find one that will give you options.

Carefully consider your choices when looking for a bank or other lender to finance your boat loan. The name of the game is research. Try not to make impulsive choices just to get into your boat sooner. Getting a boat loan doesn’t have to be painful. Some careful choices and preplanning can lead to a natural progression from the bank doors to some clear, blue water.

Need Finance has been operating since January 2001. We currently have eight offices conveniently located in Queensland, New South Wales and Victoria. We are 100% Australian owned and our experienced staff are committed to providing fast friendly service, helpful advice, flexible options and great deals. Go to http://www.needfinance.com.au to find out more now.