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Date Published : Friday, April 11, 2008
Financing a car can be a tricky project. Currently, with all the financial turmoil, it could be hard to find the cash to trade up, or simply to replace a car that's had it. However, it may not be as hard as you think.
Buying a car could be the second biggest purchase Australians make in their lives, after buying a house, so it's essential that things are planned correctly.
Taking out a car loan could help finance that dream ute, or a snazzy sports car, but all the costs of the car - and the running of it - should be calculated before hand.
There are a number of different car loans currently on the market for drivers to choose from.
For an initial fee of $250, the ANZ car loan offers customers a deal for between one and five years and offers a current rate of 9.51 per cent interest. Flexible terms dealing with how consumers repay the loan are available for all customers.
Meanwhile, the St George secured personal loan allows customers to pay back for between one and seven years and, for an application fee of $150, drivers will get a fixed interest rate of 9.49 per cent per annum. The vehicle is used as security to keep the rates low.
Budgeting is an important part of buying a car, even before the car loan application is approved.
According to the Sydney Morning Herald: "Keep accurate records of your deposits and ATM transactions. It is also wise to keep copies of your loan application and approval documents in a safe place."
Find and apply online for the best loan deals.
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