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Old 02-20-2003, 19:52   #1 (permalink)
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Car finance- where is the best deal????

I am in the process of thinking about getting a car loan and i was wanting to know where you guys and girls have been getting finance from????

RACV has interest at 8.25% and seems to be competitive. Other banks seem to be between 10-11% Without giving away too much personal info.........where did you get finance from and at what rate?

Any other tips you would have would be much appreciated for a car loan novice like me.................thanks
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Old 02-20-2003, 21:30   #2 (permalink)
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I've got finance at 6.45% on a lease. It's from cough cough splutter Toyota......
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Old 02-22-2003, 01:51   #3 (permalink)
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Talk to the finance dude at the sealership. I don't know what it's like in Aus, But over here a smart buyer should be able to haggle the car and the finance. The dealer buys the finance from the finance co. at a set %. If you can find out what the % is, you know how far you can push deal.
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Old 02-22-2003, 03:32   #4 (permalink)
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got a personal loan from the national bank.
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Old 02-22-2003, 04:03   #5 (permalink)
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last i checked at bank re leasing the rate was around 7.5%
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Old 02-22-2003, 04:25   #6 (permalink)
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8.0% at Ford Credit.
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Old 02-22-2003, 15:53   #7 (permalink)
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Ford dealer (using Esanda) offered 6.95% using a Chattel Mortgage (business deal where you prepay GST and reclaim in BAS) however he first offered 7.2% before he know I was able to go with chattel. You CAN haggle on rates regardless of what they say!
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Old 02-22-2003, 18:16   #8 (permalink)
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6% here with Westpac, goodluck getting it cheaper then that tho.
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Old 02-23-2003, 13:38   #9 (permalink)
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Guys - don't be so rate conscious - it's the big picture

Don't forget the fees, fees, fees..

Banks woke up to this ages ago that people want the low rate, so they make up for it in other ways.....
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Old 02-24-2003, 05:42   #10 (permalink)
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depends if you are getting a loan or lease. if it is a loan, look at the rate, look at the fees, look at the features. read the contract before signing.

find out if you can make additional payments...find out if those additional payments actually save you anything (one well known finance company allows the additional payments, but because interest is calculated and charged at the start of the loan, it doesnt make the blindest bit of difference). generally banks are slower to foreclose on the loan than a finance company.

yes, the rate is important, but so are many other factors. BTW, i work for a bank so get a loan deal like you wouldnt believe
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