Top five car finance tips to get approved in 2015

This information is concerning purchasing used cars. One of the finest strategies to save cash when buying a vehicle is to look for used vehicles rather than for brand new versions. Typically low usage used auto can save you a lot of money but however enable you to travel a dependable and great looking automobile. There are a few instructions you should know while you are shopping the used industry. Furthermore, it details advice for buying used cars plus what to consider in a vehicle.

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There may be many reasons that you fear rejection from a lender or broker. This might be bad credit in the past, the fact you’re applying for credit for the first time, you’re self-employed or you’re a non-Australian resident. Don’t fret – here are our Top 5 tips to get car finance in 2015.

There may be many reasons that you fear rejection from a lender or broker. This might be bad credit in the past, the fact you’re applying for credit for the first time, you’re self-employed or you’re a non-Australian resident. Don’t fret – here are our Top 5 tips to get car finance in 2015.

If you’re approaching a broker or lender for a car loan, even if you intending to borrow up to 100% of the car’s value, showing you are paying off existing debts or saving goes a long way to gaining approval. This demonstrates that your financial situation is stable. It shows lenders you have disposable income to spend on car finance, plus all the other extras cars need; fuel, insurance and maintenance.

A lender might reject you off the bat if you’re asking too much. Remember, buying a car isn’t just a matter of handing over an amount equal to the ticket price. You have to consider stamp duty, insurance, registration and all the other little costs that add up. If you don’t budget well, lenders might think you’re an irresponsible borrower.

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Roger
I am a MBA applicant at the University of Philadelphia Unit School of Industry. I have a very good 5 yrs experience of the automotive companies industry having been an employee as a research analyst throughout many asset programs.