Test Drive Car Loan Before Choosing Car
Finding the best car loan can be made easier thanks to our top 10 table for new or used car loans below. The shrinking pool of car yard finance could catch out potential car buyers who leap into a commitment before looking at the best way to finance their shiny, new car purchase.Used and New Car Loans In TurmoilRecent announcements by finance giants GMAC and GE Capital that they plan to wind down their vehicle financing operations may mean that car yard finance is not as readily available as it has been in the past, and this includes those with bad credit. Used and new car loans will both be affected.It's more important than ever to put the cart before the horsepower and have your finance lined up before you set foot in the car yard. Having a pre-approved car loan also puts you in a better bargaining position to secure the right car at the right price. While car yard finance companies may be reducing or reshuffling their Australian operations, due largely to flow-on effects from the credit crunch, there are still plenty of competitive car loans on offer, particularly from the credit unions. Who offers car loans?Credit unions offer the lion's share of secured and unsecured car loans at 70%, with banks making up 20% and building societies the remaining 10% of loans offered.There are over 470 car loans to choose from at an interest rate averaging around 12.3%. Although the cheapest car loan may not always be the best car loan, you can view all car loan rates below. Top Ten Car LoansCANSTAR CANNEX's top ten car loans are in the 8% interest rate bracket and banks are the most notable omissions from the credit unions and building societies that make up the list.With so many competitive car loans available, it's easy to pre-plan your car purchase, along with how you are going to pay for it to avoid being saddled with an inappropriate car and finance package taken on impulse. The salesman might have been extremely helpful but did you really want to sign up for that over-priced, souped-up, race-track demonstrator that came with the finance package you can't possibly pay off? Do your homework first by checking car loan star ratings.
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Australia | New Zealand
