Cheap is a word with many meanings.
To ensure you are getting the best value when getting your new car loan the things to look out for are:
- Your repayment – make sure you compare apples for apples – Ensure when comparing it is the same structure in length and with the sam principle borrow to ensure they are true comparisons
- Interest rate – While this is very important, due to the fee’s and charges changing so much from lender to lender it is important to compare repayments over the exact same term for the same initial borrow.
- Early exit fee’s/charges – This can seriously impact how much you will end up paying over the term. Ensure you know how much you could be up for if you do pay your loan out early.
There are so many different loans options and financiers out there, if you need any help speak to a broker.