Finding the right car loan

Purchasing a car, whether its new or old is always very exciting. Most people will do research on the model and have a list of features they want in their vehicle.

But choosing the right type of finance can be just as important for a few reasons, the main one being the right finance will ensure it is the most cost effective solution for you. Other consideration include:

1. Do you plan on selling or upgrading the car in a few years - some lenders allow you to do this while other impose penalties

2. Do you have a balloon payment - this is a large payment at the end of the term which is above your standard payments

3. Do you want to make additional repayments - some lenders have no penalties for paying off your loan sooner, therefore saving on interest

There are many products available in the market so if you would like a comparison please contact me and I'll be happy to discuss the options with you.