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Car Finance Factors To Consider

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When it comes time to finance your vehicle, there are a few things that you want to consider. You never want to get to the car dealership and realize that you will not be able to get your car finance www.strattonfinance.com.au/car-finance/car-loan Therefore, before you head to the dealership, there are things that you should do to make sure that you will be able to secure financing for your car. First, you must make sure that you have good credit. Second, you must make sure that you have a down payment. Third, you must make sure that you know the total amount of the car cost.

Good credit
Without good credit, you will not be able to get your car financed. In order to have good credit, you must be sure that you pay all bills on time. Making one late payment can lower your credit score by twenty points. Also, you must make sure to keep your credit card balances low. With a high credit card balance, your credit score will be much lower. Additionally, with a high credit card balance, you lower your chances of getting approved to have your car financed. Car finance is important because most people will not be able to purchase a dependable car without having it financed.

Down payment
In addition to having good credit, you must also have a down payment. When it comes to car finance, finance companies are much more likely to approve you if you have a down payment. A down payment is especially important if you do not have good credit. However, even with good credit, some finance companies still require you to have a down payment when it comes to car finance. The amount of the down payment will be dependent upon the cost of the car. In most cases, you will want to have at least a five percent down payment.

Total cost
A final consideration for car finance is to know the total cost of the car. Without knowing the total cost, you will not know how much you will need to borrow. Additionally, the total cost will give you an idea of how much you need to put down for your down payment. In order to find out the total cost for your car finance, you should visit the dealership and ask questions about the car that you wish to purchase. You should let them know that you are financing the car, but you need to know the total cost of the car. The total cost will take into consideration any rebates or special offers.

Getting a car financed by Stratton https://www.strattonfinance.com.au/ is not difficult. However, you do need to consider a few things before you head to the finance company. By having good credit, knowing the total cost of the vehicle, and saving for a down payment, you are more likely to be approved for your car finance loan.

How does novated lease calculator works?

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The benefit of a novated lease is your own personal gain. If you’re unaware what a novated lease is, perhaps you should speak to your employer about the contract addition for a better understanding of what it is and how it works. It’s a way of leasing a new vehicle that’s beneficial not only to you but to your employer. It’s your car in your name, and you do pay for your vehicle. The beneficial aspect of this is you pay for the vehicle out of money you didn’t have before.

How does a novated lease calculator work?

It’s a common question, and it’s simple once you understand the concept. It’s a way of leasing a vehicle with your employer as the person responsible for making the vehicle payments. The money used to make the payments on a novated lease doesn’t come from your employer’s account, however. It’s not a company car.

It’s your car. The car is yours to drive, keep, and do with what you please, but it’s paid for with your paycheck prior to your taxes being removed. If you’re confused about how this benefits you, here’s a rundown. When you use your pre-tax money and your employer sends your payment to the company leasing the vehicle for you, you have more money to spend. You don’t see your pre-tax money. Learn more about Novated Lease Calculator by Stratton https://www.strattonfinance.com.au/novated-lease/online-quote.aspx

Your employer takes your earnings, pays taxes from them, and gives you what’s left. When you use your earnings to pay for a car pre-tax, there is less money to tax. Your car is a little more affordable because you’re lowering the amount of money that requires taxing before you get paid. Less of your money goes to taxes and more of it goes to you.

Is this my car?

A novated lease calculator might confuse you because you’re unsure if this is your car. It is your car. You get to choose the car you drive, the kind of car you drive, and you get to choose all the details that go along with it. You aren’t required to get permission from your employer prior to making any of these decisions, and you’re certainly not purchasing this car for company use. It is your personal vehicle to drive on your own time wherever you want.

If you choose to go with a novated lease and take the benefits it has to offer, you get to keep the car even when you choose to leave your job. You will transfer the lease to your new company, take the car with you, and continue to reap the benefits of your novated lease agreement. When your novated lease is over, you get to take the car back and either buy it or choose to lease a new vehicle with a new novated lease option.

Helpful Car Finance Suggestions

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Car finance approval isn’t the easiest thing for everyone. If you want to secure car finance approval anywhere in Australia, however, there are certain things you can do. Car finance approval is all about preparation, preparation and more preparation. People who want to practically guarantee car finance approval are in luck. Attaining car finance approval is possible for people who are smart and who take a variety of different factors into consideration. There are numerous car finance suggestions that can go far for the people who listen to them. Car finance at Stratton success is most likely in your near future.

Say goodbye to all of your debts as soon as possible. Your goal should be to make sure that people understand that you indeed have the ability to save money. Lenders and brokers like to see that. Communicate to lenders and brokers that you’re in the process of doing away with the debts that you already have. Communicating to them that you have the ability to save well can be invaluable, too. It’s important to make sure that lenders and brokers see that you’re in rock-solid financial shape at the moment. People need to know that you’re able to cover all of the many costs that are associated with vehicle ownership. These include routine maintenance work, insurance and even fuel.

Try to find a guarantor. If you want to increase your odds of car financing approval, it can help immensely to take the secured loan route. Secured loans use vehicles as either security or collateral. If you fail to pay your loan back, however, you pay the price. That’s because it gives your lenders the ability to repossess your vehicle. That’s the reason it can be such a terrific idea to locate a guarantor who can back you up. Recruiting a guarantor can make lenders feel a lot more comfortable letting you borrow money.

Search for a car that’s within your price range. Don’t look for a vehicle that’s overly fancy or that comes with all of the latest features. If you try to get a vehicle that, simply put, just isn’t in your price range, that may make lenders a lot more likely to say no to approving you. Car costs can be significant. People don’t only have to cover the costs of their actual vehicles, either. That’s because they also have to pay for registration, insurance, stamp duty and a whole lot more. Those expenses are only where things start, too. Careless budgeting approaches are always a mistake. The last thing you want is for potential lenders to view you in an unflattering light.

Focus on your credit history. If you want to improve your odds of car financing approval, then you need to meticulously assess your credit history. It’s critical to try to enhance your credit score. Lenders aren’t too keen on letting people with low scores borrow a lot.