Finding a Car Loan that is Suitable for You

Shopping for a new car is exciting and fun, but it can also be a money trap if you are not careful. At My Car Loan, we are committed to providing our customers with the best individual car loan suited for them. Vehicle finance is an important aspect for buyers of new cars, as this can greatly help you, the purchaser, in attaining your car faster. There are many different types of tailored car loans available from My Car Loan that will help you buy that car. New vehicle finance doesn’t have to be difficult with the many different types of loans on offer:

Personal Loan: This type of loan provided by My Car Loan is designed for individuals who want to use their car mainly for private purposes and for whom private ownership is important. This is an unsecured loan that may be used for the purchase of anything of value, but these items are not used as collateral on the loan. Rates are generally higher than on secured loans as it is considered a riskier form of lending by financiers. The benefits of this car loan are that it has flexible contract terms and repayments can be structured to suit the individual.

Novated Lease: My Car Loan offers this popular loan, which it is an agreement that is made between a full-time employee, their employer and a car lease financier. This type of loan works only for employers who offer salary packaging as the payments are made through an employee’s salary. The benefit of this is that it allows for a greater choice of vehicles.

Financial Lease: This lease gives individuals immediate use of the vehicle without having to arrange a large deposit before driving it. My Car Loan provides rentals that are fixed for the term of the lease, providing security for your financial planning. At the end of the term you have the option to refinance, sell or purchase the vehicle for the residual value. The advantage of this is that budgeting is easier as costs are known in advance.

Commercial Hire: For individuals that need to upgrade or acquire a new or used vehicle, My Car Loan can assist you with a commercial hire lease. Regular payments are made over the term you choose, and full ownership of the vehicle is transferred to you when all the payments have been made. You can choose to finance the total purchase price, use a deposit or trade-in. The benefit of this loan is that there is no GST on repayments.

New vehicle finance loans from My Car Loan

To avoid being placed in financial jeopardy, it is crucial to calculate how long it will take you to repay your loan, and how much. My Car Loan’s car loan calculator is an essential tool for estimating the cost of your car repayments on a monthly basis, so you can effectively organise your vehicle finance.

Please contact us today 1300 24 1234

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