If you’re applying for your first-ever car loan, we can help you get over the hurdles involved.
Because this is your first loan, the most important thing you need to understand upfront is that getting a car loan is all about proving to the lenders that you can afford to repay the loan AND that you will repay the loan on time.
So, they’ll want proof of your income (obviously you’ll need to be employed and earning regular money to get a loan) & expenses, and they’ll also want to take a look at your credit file to see if you have had any bad credit issues in the past.
If this is your first-ever application anywhere for credit, it might take a bit longer to prove your ability to repay your loan on time, so you’ll need to be a little bit patient. However, we’ll guide you through the process from start to finish (we’ve done this 1000s of times over the years), ensuring you don’t get lost or confused along the way.
If you have an established credit file with no black marks on it, then things will progress faster, but if you have defaults or serious credit issues listed on it, it will be more difficult (if not impossible in the worst cases) and take longer to get a pre-approval. Either way, we’ll do our best to carry you safely through the entire process and give you the best chance possible of getting approved for your first car loan.
Best Loans has a lender and a loan product that can meet your needs. It only takes 5 mins on the phone with one of our loan specialists for them to collect the information they need to find the best loan for YOUR circumstances.
- No Obligation – Speak to us in a no-pressure environment and walk away at any time.
- Multiple lenders – When lenders compete for your business, YOU win with great rates.
- Same-day approvals – get into your new car fast.
- No-deposit finance – to approved purchasers.
- Car finding service – we can help you find your next car.
^ Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Rates subject to change without notice. Credit provider is ANZ Australian credit licence 234527. Comparison rate calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw or early repayment fees and cost savings such as fee waivers are not included in the comparison rate but may influence the cost of the loan. Australian credit licence 391454.
* Chart disclaimers:
1) Loan comparison: $30,000 over 60 Months (5 yrs)
2) Rates taken from bank websites – accurate as of 29/10/2013.
3) Best Loans interest rate from 5.99% (6.85% Comparison Rate.) ^
4) Figures subject to change without notice & don’t include all fees & charges.