Automotive financial service is one of the largest loan industries around the world. The massive growth in recent years has led to more and more companies offering automotive finance. Unfortunately, the more products and deals available, the more tricky it can be to source a great package. Wasting hours and hours on the phone getting quotes can become tedious very quickly and feel very frustrating. However, these three top tips can assist you to find a great deal.

Calculate How Much You Can Afford:

The first step in car finance, Perth WA resident should take is calculating how much they can afford. While it is tempting to start immediately visiting dealerships, you may be rushing into disappointment as you set your heart on a vehicle out of your price range. Even if you haven’t got a head for figures, calculating how much you can afford is simple. All you need to do is take a few moments to compare your usual monthly earnings with your typical monthly expenses. The leftover cash is your disposable income and what you have available for your new vehicle. Remember to take into account any other expenses related to the new car such as insurance, fuel, and servicing.

Choose the Right Vehicle:

While you may consider all car salespeople the same, you may find that the approval rate for automotive finance is higher when you shop at a reputable dealership. The main reason for this is that the automotive financial services company or lender can have confidence that the transaction is legitimate and legal. Although you may consider dealerships to be more costly than a private seller, you may find that the vehicles are a higher quality and offer access to other incentives such as servicing and maintenance. Additionally, dealerships can offer a larger selection of vehicles, which can make your car shopping simpler and easier. Instead of spending hours ringing up classified ads, you can walk around a dealership lot. Some dealers even offer vehicle finding services, if they don’t have the right vehicle in stock.

Shop Around:

Another important aspect of getting a good deal on car finance, Perth WA residents should be aware of is how vital it is to shop around. Although you may be tempted to simply apply for finance at your bank or the dealership, this can be a costly mistake. Unless you have a perfect credit record, the chances are the very attractive rates will not be available to you. Fortunately, a reputable broker will be able to assist you in shopping around for the best possible deals. An established broker has access to a variety of lenders to suit different circumstances, which will provide access to the best possible deal.