Demand for car finance has increased in the past couple of years, however many people are not aware about the possible options of car financing, where and how to use them, how to obtain car loan and what would be the consequences of taking a loan. To make your life easier, here are 3 things you should consider when you go for car finance.
1) Maintain good Credit Score:
when searching around for deals make sure you are stick to ‘soft credit queries’ until you are confident that the offer and vendor is ideal for you and you want to apply in entirety. Getting financing quotations from multiple lenders within a short time, be it car finance or other, could set warning bells for lenders and ruin your credit score.
2) Good Idea to have a deposit:
Deposits are usually required to ensure that customers borrow a reasonable amount in respect to the car’s value, and to reduce chances of bad debt significantly. Any lender should give a detailed description, and as well as a list of possible choices because then you can make the correct decision
3) Keep calm and let your advisor work:
Some finance companies or car dealers may need documented personal information before they consider an offer that may take some time for you. However, you can do all of that online nowadays. You might get a quotation that only takes few minutes electronically, and it won’t take any longer to finish your application.
At Credsol Financial Services, We go through your loan documents to find a lender who can match the amount you need to borrow to adjust the duration of your payment to a period that suits you.
Please contact us at 0204 273 376 (Credsol) or Email: ask@credsol.co.nz