BEST CAR FINANCE COMPANY?

[JJCRU23R]

Hey guys, just wondering for those particularly in NSW, when it comes to getting finance for a new or used car, which company/bank has given the best service/rates?

Not that Im in a rush, Im only window shopping at the moment.

Any useful info on who to look into and who to steer clear of would be appeciated!

[Ozzcaddy]

My only advice is make sure you read the fine print whichever lender you go with.

[P_T]

Sometimes Toyota has a special finance deal. 4.5% low interest.

[MR22ZZ]

the best finance is CASH... having a loan on a depreciating asset is stupid.

I learnt that the hard way.

adding to this, don't EVER finance through GE Money... EVER

[P_T]

the best finance is CASH... having a loan on a depreciating asset is stupid.

I learnt that the hard way.

adding to this, don't EVER finance through GE Money... EVER

Easy for cars under 10 grand. Anymore than that, I wouldn't do it. I'd rather pay some of it and finance the rest. Save the money in the bank for whatever eventuality or use it to mod the car, and pay monthly installments.

Besides, whether you paid in full or finance, your car still depreciates and you still lose money anyway, so what's the difference?

Some would say buying a new car is stupid, and yet many people do that.

[MR22ZZ]

the difference is the interest you pay... at the end of the day a loan costs you about half the purchase value of the car again in loan costs.

New cars are great on a hire-purchase or lease arrangement if you can.

[JJCRU23R]

I'm considering a used JDM fresh off the boat type of car. My bank told me their rate was 10.99 over 5 years. Not going to make any serious moves for the next 6months to a year anyway, but I want to keep my eye on things like finance for when the time is right.

Of course if I had the cash laying around (or the ability to save that amount in a short timespan) I'd do it! Actually, it would be interesting to know just how you can save up to/around 20-25k to pay for a car in full??? How do you do it?

I'm renting, have a wife and 2 kids so it seems like doing that will take years.

[MR22ZZ]

without knowing your personal situation it's hard to give suggestions, but years ago when I sold my sportivo and bought the MR2 for cash I cleared all my depts and never looked back.

We also rent, though we have no kids, but expecting our first in a few weeks.

It comes down to dicipline.

We both work full time (at least we did until recently) and with a bit of dicipline we managed to live off of one income and save the other into a high interest account, both of us are on 'average' incomes bringing home approx $1000 a week.

We have been doing this for about 3 years.

Last year we bought our X-Trail (second hand 2005 model) for $16,000 cash and it hardly put a dent on our savings.