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Car Loans in Melbourne For Your First Ride

Need new wheels to get to work or uni? Before you sign-off on paperwork at a car dealership or commit to a private arrangement with a third party, take some time to review the financials. There is a lot to look out for when purchasing a new car, which is why it is a good idea to consult with Hunter Lending Group for the best car loans in Melbourne.

Finding the most competitive rates along with top quality customer service is only scratching the surface of what makes decent car loans in Melbourne worth investing. Did you know that there are quite a few aspects to a loan that you should be aware of when in the lending market?

Secured or unsecured options

Generally, a secured loan is provided against an asset that has a value that is either greater than or is equivalent to the amount borrowed. Sometimes you need to borrow more than the value of the car because there are additional costs associated with the purchase such as insurance, post-purchase maintenance, or even registration and certification payments to ensure the vehicle is roadworthy. To learn more about the difference between secured and unsecured options, chat with the team at Hunter Lending Group about car loans in Melbourne.

Fixed or variable interest rate options

An important question to ask yourself early in the process is: How long do you expect the repayment terms to take? The length of time you need to complete repayments is a critical factor to consider when comparing fixed or variable interest rate options. If you are keen to settle the repayments as soon as possible, a lower interest rate would probably make the most sense, but there are other variables at play that might complicate the decision. For clarity, discuss fixed or variable interest rate options with Hunter Lending Group.

Chattel mortgages

Are you aware of commercial car finance products such as chattel mortgages? For these car loans in Melbourne, a finance company typically lends money to the customer to purchase a vehicle and the customer makes regular repayments. While the customer takes ownership of the vehicle, or ‘chattel’, the finance company takes out a mortgage over the vehicle via an ASIC-registered fixed and floating charge to provide security for the loan. With so many car loans in Melbourne to choose from, the financial specialists at Hunter Lending Group are at the ready to assist.

Some of the other perks of deferring to Hunter Lending Group’s expertise includes:

  • Access to car lease facilities
  • Personal loans
  • Redraw facility
  • Line of credit

Car Loans in Melbourne

Whether you know precisely what you need or require professional assistance with finding the best car loans in Melbourne for you, contact Hunter Lending Group today. We also provide a range of other services such as debt consolidation, home loans, commercial property investment advice, and more. Call (03) 9497 4917 today to learn more.

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