Car Finance

4 Tips to Get Commercial Finance in Perth

Are you looking to expand your business and are looking for a competitive commercial loan in Australia? Whatever the reason, you are looking at commercial loans there will be an effective solution.

Look:

There are numerous possibilities out there for securing loans. Allow me to share some effective tips to help you get the commercial finance in Perth that you need…

What are the Best Commercial Loans Tips?

Growing a business can be a complex and time-consuming endeavour which will often require increased funding. This could be for new vehicles, equipment, a new plant, or to have enough cash flow to operate during the offseason.

There are some basic ways that you can improve your chances of getting commercial finance in Perth at a decent interest rate. These include:

1. You should find an experienced Finance Broker. An MFAA accredited finance broker can make all the difference between success and failure.

They can assist you in working out the correct type of loan you require, and the perfect type of lender that you need.

The broker will work with you to determine your commercial loan needs and the level of repayment which will be appropriate for your business.

They will choose a loan which is most suitable for your circumstances and help you manage the process all the way to approval.

They are experts in the field and have knowledge about all of the loans which may be available to you. They can also help you with most of the legalities and paperwork.

2. Make sure that your credit history looks good. Most lenders will be looking for some existing credit that you have taken out and your discipline in repaying on time.

You are far more likely to be accepted for a new commercial loan if you can display an existing loan which has been repaid on time. It lessens the risk to the lender.

It is not the end of the world if you have a poor or non-existing credit history. A finance broker can recommend ways to improve your credit history or find an alternative loan method.

3. You should save a lot of time by being prepared for when you meet your finance broker for the first time. You need to come armed with up-to-date tax records and paperwork and know approximately what size of the loan you require, for what purpose, and how you plan on repaying it.

You should also be aware of your companies total worth and have a list of all assets and liabilities.

The more information your loan broker has, the faster, and easier the process will be.

4. You should have your business plan in place. It should detail what it is that you want your company to achieve and demonstrate how you will achieve it.

This is important with regard to your credibility, and a convincing business plan will go a long way towards a successful commercial loan application.

There are many options for getting commercial finance in Perth, but a sure way of improving your chances is to talk to an experienced finance broker.

Argent Finance is one of the most well-regarded finance brokers in Western Australia and we can find the best commercial loan to help fund any of your business activities.…

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Car Finance

Advantages of Car Finance Explained

Are you looking to buy a vehicle in Western Australia and are interested to know your options for second-hand car finance?

There are various ways to get good deals for auto car finance, and you could be driving away in your new car in just a few hours.

At Westside Auto Wholesale, we have a specialist car finance division, who can help make financing your dream car from dream to reality.

 If you would like more information, please just drop-in for a chat with our friendly team at your convenience.

Car finance is similar to any other loan product in that it can improve your lifestyle as long as it is managed properly.

 It is important not to mishandle a car loan as it can cause emotional and financial stress.

It is always best to talk to a car finance professional who will help you calculate what you can afford and get the best deal available.

What are some of the positives of using car financing?

One of the main benefits of car financing is that it gives you almost immediate access to a vehicle that you might not otherwise be able to afford or that you would need to save for.

 This can be extremely useful if you need an improved car for family or work reasons.

No deposit car finance is often available, and it can be an attractive option for times when your budget is stretched on taking care of other commitments.

Another positive of taking out car financing is that it can help you improve your credit score as long as you follow the repayment schedule on time.

This will be useful for applying for future loans such as a mortgage or for home improvements.

At this time, car finance is an extremely competitive business in Australia so you should be able to get a competitive deal which may allow you to buy a better quality vehicle than you expected.

Your auto car finance advisor will be able to show you the best deals available on the market.

One advantage of using a car wholesaler for car finance in Perth is that it is quick to organise.

There is also a wide selection of quality used vehicles on-site and car financing is straightforward to put together.

You could be driving away in your new car in a matter of hours!

 How does car finance work?

Simply stated, car financing is the funds you loan to buy a car. You can decide on your level of repayments, by putting down a higher or lower deposit and over how many years.

Once your car finance is agreed you will have an agreed amount of time to repay it following the terms that you have agreed with the lender.

Car Wholesaler Finance

Your car wholesaler can secure your funds through an outside lender, and they often have inside knowledge of the best finance deals on the market.

There may be some lower than usual finance rates available on specific makes and models. You should always ask specifically for any promotional rates available.

If you use your car wholesaler to organise finance it will be just like a regular car loan and you will make repayments over a set period, but you might be able to lower your monthly payments by negotiating a lump sum balloon payment for the end of your loan period.

Westside Auto Wholesalers are one of the best-established car wholesalers in Western Australia and can offer you great advice on car finance in Perth and the surrounding areas.…

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Car Finance

Buying a Car on Finance? Here’s what you should consider

Thinking about getting that new ride you’ve been thinking about? Like most car-buyers, you might have spent a lot of time researching and deliberating about which car model or make to purchase without giving much thought or even considering how you’re going to finance it. Many people understand the basics of car maintenance but have no clue what auto finance is all about. That explains why you’re likely to sign a loan in a hurry without taking your time to read the fine print first. 

It’s important that you understand what you’re agreeing to before you sign on that document. There are plenty of options available when it comes to car finance which is why you shouldn’t be in a hurry to make any decisions. Here are important things you should know about car finance. 

Know your Budget

The first question a car dealer is likely to ask you when you show up at their car lot is, “what budget are you working with?” Of course, there’s a reason as to why they’re asking this question. Focus on the final price tag of the vehicle including the total interest and monthly payments. Stick to what you can afford to pay every month. You don’t want to let the dealer to sell you the highest-priced car in the lot. 

Evaluate your Credit Score

When purchasing a car on finance, your credit score is the lifeblood of the loan. It’s what finance providers use to determine how safe you are as a borrower.  A poor credit score is going to negatively affect the amount you pay for car finance. Your application can either be rejected or you’ll be offered high interest rates. It’s, therefore, important that you raise your credit score before deciding to take the car finance road. 

Check the Interest Rates

Understand that car loan interests vary from one lender to the other. You should take your time to compare finance providers before settling on a loan offer. There are no standard interest rates for car loans. Long-term loans tend to attract higher interest rates, so you might want to choose a shorter one.

How Much to Put Down

Most car finance providers tend to ask for a down payment, which varies from lender to lender. Building a savings account for this initial deposit will save you money in the long run since your interest will be on a smaller loan. In cases where the lender offers no deposit car finance, the car buyer will have to pay back larger monthly deposits. Decide the option that best suits your situation. 

Pre-Closure Penalty

Before you sign up for car finance, find out if there are any fees that apply if the loan is repaid before the stipulated time. You can find all this information in the documents provided by the lender. Don’t be in a hurry to sign up. Different finance providers charge different pre-closure rates. 

The Cost of Deferred Payments

You’ve probably heard of the “no repayments for 6 months” package. It’s important that you read the fine print and know what you’re agreeing to. Such an offer would mean your loan will accrue interest all the while. Are you willing and ready to pay an extra six months of interest payments on your loan? That’s for you to decide. 

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