TurboDOHC

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

Aussie Pete

I've got finance at 6.45% on a lease. It's from cough cough splutter Toyota......

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shaft

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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ir33t

got a personal loan from the national bank.

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laminge

last i checked at bank re leasing the rate was around 7.5%

JG33

8.0% at Ford Credit.

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Curls

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!

BIGBADAU

6% here with Westpac, goodluck getting it cheaper then that tho.

Bluey

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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rsgerry

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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