10 Tips For Choosing A Car Loan In Perth

Are you thinking about buying a new car? We understand that buying a car represents a significant financial commitment, and for many people a car loan is the only way they can afford a new vehicle. While buying a car can involve lots of research, comparison and budgeting, getting finance approved doesn’t need to be difficult.

If you’re one of the lucky few who have cash available to buy their new car outright, congratulations. If not, read on. In this article, we’ll explore 10 reasons why financing your next car with Yes Loans might be the right decision for you.

1. A car loan spreads the cost over time

The main benefit car finance offers is the ability to spread the cost of a vehicle purchase over an extended period of time — typically between 2 and 5 years, which makes everything affordable and prevents you from using all your savings.

2. Helps you manage your cash flow

Paying in monthly or fortnightly instalments allows you to budget better over the loans’ duration. It means you can continue to save as you know exactly how much you need to pay and when you need to pay by.

3. Improves your credit score

Financing your car can also help you improve your credit score as it demonstrates to lenders that you are financially responsible and trustworthy. Consistent repayments open opportunities for better financing options in the future.

4. You may be able to afford a better car

As you’re spreading the cost over several years rather than paying an up-front lump sum, financing allows you to afford a more expensive, higher-quality car — given it fits within your budget. So, if you want to get additional features and options to enhance your driving experience apply for a loan now.

5. Get the car you want sooner

Instead of saving up for years to buy your dream car, financing allows you to pay the outstanding amount over time in smaller, more manageable monthly instalments. This means you don’t need that big wad of cash available already, so you can get the exact car you want now! Just make sure you can comfortably manage the payments throughout the entirety of your contract.

6. Easily upgrade your car

With the right financing option from Yes Loans, you can upgrade your car with a car loan to suit your needs.

7. Flexible buying options

Car financing offers various payment options allowing you to choose things like your contract’s length, the deposit size (if you have one), and your monthly payment amount. With Yes Loans, we’ll help you find a package that meets your wants and needs.

8. Get tax benefits

You may be eligible for tax deductions if you are self-employed or run your own business and purchase your finance under your business’s name. Deductions may depend on your finance method, so ensure research thoroughly before signing a contract.

9. You can make money on your car

If the car you purchase using finance retains its value well, you’ll be able to benefit from asset appreciation — let us explain. At the end of your contract there might be three options:

• Return the car.
• Part exchange it for another.
• Pay the pre-agreed final repayment to own the vehicle.

If your car’s value has increased, you may be able to sell it for a higher price than the pre-agreed repayment and pocket the difference as a profit.

10. Zero deposit options are available

Here at Yes Loans, we offer zero deposit options if you meet our compliance standards, which means you won’t have to pay any kind of lump sum if you don’t want to. We also offer loan protection insurance, to safeguard against future emergencies.

Finance your next car with Yes Loans

If you’re ready to take the next step and apply for a loan, start with our quick and easy online application. Yes Loans offer fast finance options at competitive rates so you can drive away with the dream car that fits your budget and your lifestyle. Don’t forget to use our loan calculator to find out what your repayments will be.

What is a car loan calculator?

A car loan finance calculator is a simple tool that lets you quickly calculate your repayments based on the interest rate, loan term, repayment frequency, and more. Please note that a car loan calculator is only an estimation tool. Individual rates and repayments will differ depending on your credit profile and other factors.

How does a car loan calculator work?

A car loan calculator works by calculating your loan repayments based on the amount you wish to borrow, the term of the loan, repayment frequency, and any deposit or balloon payments you may wish to pay at the end of the loan. Add in loan protection insurance and car insurance to cover any unexpected costs.

Use our car loan calculator to determine your repayments. Simply add the amount you wish to borrow, the term of the loan, and your preferred repayment frequency, and press Enter to calculate an estimate of your repayments.

Is your car loan for personal or business use?

Personal car loans: Yes Loans has low-interest car finance options for new and used cars. Typically, we respond to car applications within 24 hours and offer a range of flexible finance options. We’ll help you get the car you want sooner with our easy-to-use online application form.

Business car loans: When you finance your business vehicles with Yes Loans we’ll give you a great deal at a great rate.

Yes Loans’ interest rates are competitive, we have quick turnaround on finance applications and a team of experienced brokers who specialise in car loans.

Contact Yes Loans today, and don’t forget to ask about our loan protection insurance.

Australia Credit License 392426.

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