Which Car Loan

[slickthug]

Hey guys just wondering what the cheapest car loan currently available.
also would be good to see what you guys are on and what the interest rate is.

also if theres any good car loan + insurance deals please let me know

this will get me closer to my cj purchase
thanks

[spunkybob]

the loan interest well be automated with your application.

me with como bank was 9.08% and the dealer was 9.11

I went with dealer coz there loan fee per month was half

[slickthug]

the loan interest well be automated with your application.

me with como bank was 9.08% and the dealer was 9.11

I went with dealer coz there loan fee per month was half

so you everyone gets a different rate? cos wen i was looking at websites i can never find an interest rate lower than 10%

[spunkybob]

yeah, they take all you money details (earn, spend, age, etc) and it gives them a % to give you.

Fixed rate secure loan will always give the lowest but can only get the amount of the car.

Variable rate unsecured means you can make as many repayments as you want year but the intrest goes up and down

Fixed rate unsecured means you can only make so many extra repayments a year but the intrest rate does not change.


What i found was that;

fixed secure = 9-10%
Fixed/variable unsecured = 13-15%

[Hoggy]

Am new to the country so don't really understand it all but I got mine on a Novated lease. This lets you take your car loan out of your sallary before tax! Then depending on how many KM's you do all you do is pay fringe benefit tax. I assume to get this you need your work to agree.

Roughly roughly I got a $30k Olympic for $900 a month over 3 years with a final settlement figure of $13k. This includes everything, car, maintenace, rego, insurance, insurance excess, fuel - the lot

[Hidden-Shadow]

I got 11% over 5 years for mine - I basically told them that I want my payments no higher then $300 a fortnight and got them to work it out. This is through Asanda (ANZ)

[nlilith]

Savings & Loans have cheap car loans at the moment, e.g. 7.72% for $20,000 over 4 years.

Novated lease is difficult to get to work unless you do at least 25,000kms a year (and then you're affecting your potential resale value) due to the Fringe Benefits Tax you have to pay. You have to pay a residual at the end as well. You also can't mod the car legally over the term of the lease without approval from the leaser, and any accessories (e.g. reverse sensors) have to be installed prior to delivery.