Car Loans

Need a new set of wheels? A new or better used car could be just a phone call away. Low fixed interest rates with terms up to 7 years, no monthly fees and fast same day approvals.

Our fast hassle free approvals could see you driving your dream car away in 48 hours or less.

Is it better for you to grab that awesome brand new car or get a deal on a great value secondhand car?

We have outlined some of the advantages as well as some things to look out for when deciding between a new or used car.

New car – advantages

If you purchase a new car you are definitely more likely to know what you are getting. The new cars cost more, however your new car is far less likely to break down or require costly repairs for a few years.

The safety features in newer cars are generally much higher. Many of the latest safety features are now standard in a newer car. Late model cars also tend to be more fuel-efficient than a used car.

Interest rates on car loans for new cars can often be lower because new cars are seen as a lower risk.

New car – disadvantages

New cars cost more than used ones and depreciate in value faster and can lose nearly half their value in the first few years. It might be a more cost effective to purchase a vehicle that is only a few years old.

You can often be caught out by extra costs such as an extended warranty that cannot be transferred between dealers.

Used car – advantages

You get much more for your money. You can pick up a three year old car for around 60% of its new cost. If you do your research and shop around, you could find a car with all the same features as a new car but pay a lot less.

If the budget is a bit tight then you may be able to pick up some good 10 year old cars for $5,000 -$7,000.

There is a huge range of used cars available you can find a great vehicle at a great price.

Used car – disadvantages

Lenders often see used cars as a higher risk and will charge higher interest rates.

Used cars are often less fuel-efficient and cost more to run. Replacing parts in a used car can often be far more costly and difficult than doing the same for new cars.

Used cars may need more maintenance, meaning your ongoing costs can be higher.

Contact the team today because we make buying a new car easy.