Author: yesloans | Page 6

Tips To Get Better Car Finance Deals

Posted on 16/10/2019 at 7:52 am.

A car loan is basically a personal loan that people use to buy a motor vehicle like a car, ute, motorbike or other automobiles. Getting one can be quite useful especially when you don’t have enough money to afford to pay for its entire price at once. A car loan lets you repay it in monthly instalments instead. This may sound like common knowledge but we can tell you that the questions we see about what car finance includes we thought it might be easier to explain it here.

But before you start to search for a car that you like, it’s important that you work out how much you can afford first, lucky we have a useful loan calculator found here. Your calculations should include all of the costs with regards to owning and operating the vehicle. Things such as annual registration fees, roadside assistance, insurance, maintenance, repairs and tolls should be considered.

Focus on how much you can afford and stay with that. Your dealer might offer you accessories for the car and additional insurance but these can only add to your budget. Perhaps a good second-hand car might be better for you as it lets you save money while leaving you with more cash on hand to get things like insurance.

Selecting a Car Loan

With a car loan, your purpose here is to borrow a certain amount of money which you repay in a specific period. This is what we call a ‘term’. You will be required to sign a credit contract which details the total amount that you owe and how you plan to repay it.

The term will depend on what you choose but this can often last between 12 months up to 5 years. If you’re unable to pay the full amount when the term ends, or if you somehow can’t make equal payments over the life of your loan, the last payment must be done as a lump sum. Although this can make repayments easier, you may end up having to pay a huge amount of money to pay off.

There are various types of car loans you can get right now. These are:

Secured Loan

A secure loan works by offering an asset in return which will work as a security for the loan. Commonly, the asset that is secured is the one that the person plans to buy. If you fail to repay accordingly, the lender can repossess the asset and sell it to get their money back.

Unsecured Loan

This type of loan is often employed for used cars. An asset won’t be needed as collateral but the downside here is that you won’t be able to borrow as much compared to a secured loan. Besides that, interest rates with this loan are usually higher since the lender is risking more. Failing to repay the loan can land you in court instead.

Fixed and Variable Rate Loans

While shopping around for a car loan, you may notice that there’s an option for a fixed or variable rate loan. With regards to a fixed-rate loan, its interest is locked down for the term of the loan. What this means is that repayments here are set, letting you know how much you need to repay every month.

Keep in mind however that if you make extra payments inconsistently and pay out the loan earlier than expected, you may be charged with a fee for early termination. Additionally, you might have to pay for other account charges and fees.

Getting the Best Rate for Your Loan

Apart from getting the right price for the car you want, another thing of importance is acquiring the best deal for your loan. Shopping around for credit prior to browsing for a car can give you more information on a loan that suits your needs. Most credit lenders can give you ‘in-principle approval’ for a car loan. This means that you are aware of how much can borrow and you won’t have to spend more than what you are capable of.

Dealer Finance

When you choose to buy from a car yard, your dealer may provide you with the financing you need for your vehicle. Although this may be convenient for you, it’s still ideal to shop around to ensure that you’re getting the best deal for your loan. Credit unions and specialist lending companies all have car loans so it’s best to check them out and compare rates. Doing so lets you select the best car loan for your situation.

Car Leases

Getting a car lease allows a person to rent a car for a certain period but doesn’t have the right to purchase it. When the lease ends, the contract is terminated and the car is then sold. It’s possible for you to make an offer for the car but the lending company doesn’t have to accept it. If you really want to own a car and make it yours, a car lease isn’t the right choice for you.

Car Insurance

Before you can take your car for a spin, a compulsory third party (CTP) insurance is needed first. When borrowing money and a lender chooses to have security for the loan, they often require you to take out comprehensive insurance for added protection. This insurance will take care of any damages to the car and the property of others in case of an accident or if it gets stolen.

Additional Insurance from Car Dealers

When arranging finance for your vehicle, car dealers may also provide you with add-on insurance such as gap cover, tyre and rim insurance and loan protection. Consider these choices carefully before taking them up as they may not be as good value for your money. Usually, these add-ons just add to the total cost of your loan without giving you much in return.

Final Thoughts

Purchasing a car requires you to make crucial financial decisions that can help you acquire the vehicle easily. That is why it is important that you first research all options available before deciding to shop around for the car that you want. Make sure you talk to various dealers to get an idea of what you have to pay.

If you’re interested in learning more about a car loan, we at Yes Loans have the experts who can help. Don’t hesitate to contact us today!

Buy a Caravan and Travel the Aussie Outback

Posted on 16/10/2019 at 7:45 am.

Written by yesloans

Western Australia is full of the best Caravan and RV road trip tourist must-see destinations. We love the Aussie outback and travelling in camper vans when we are not helping you get financed for your own RV road trip. WA is beautiful the coastline inspires people and the outback shows you just how big this country really is due to the sheer size and scale of the endless horizon. People will have to spend at least a week in the different parts just to capture the magnitude of beauty at each destination to fully enjoy the place.

The state itself is known for its natural beauty, broad horizons and the sense of having the “wind in your hair” kind of adventure. This is especially true when you have a caravan and some of your friends along with you.

So without further ado, let’s take a look at the top three visitor spots you shouldn’t miss when going on a road trip in Western Australia.

1. Margaret River

Located in a southern corner of Western Australia is the majestic region of Margaret River. It is about 150 miles from Perth cityl and a road trip here is just a few hours away. Caution for those planning on driving here for any long weekend or public holiday to plan ahead as the roads into this area get pretty busy with everyone flocking to this amazing coastside destination.

Margaret River is an idyllic escape from the hustle and bustle of the city and is one of the best places in WA to experience natural beauty and is on the must-visit list of every keen surfer. The region has an awesome coastline that is dotted with beaches, which makes it an excellent place for surfers having been home to a large number of surfing contests Margs is a surfers paradise. Besides that, you can find Cape Naturaliste and Cape Leeuwin – both of which are popular places for hikers.

Wines are also something of a speciality at Margaret River. A trip to the region would make for the perfect time to stock up on some delicious whites, rosés and reds made by the best wineries nearby. You dont need a caravan to get here but it does help if you plan on staying a while or staying near the popular locations here.

One can also expect numerous wildlife when going on a caravan road trip here. There are many kangaroos that bask all day long in the sun-soaked fields and whales can be spotted around its coastline. At Hamelin Bay, there’s a chance you can get up close and see the friendly stingrays that roam around there.

2. Broome

The tropical region of Broome is one of the most remote but unique destinations in Western Australia. Tourism in the area is beginning to pick up but it’s still a long way from being a bustling hub for travelers. Broome is very laid back and even though it’s at the northern edge of WA, there are many things to do when you visit the region.

We particularly enjoy watching the sunset backdrop as the camelback trail walkers move along the beach sands. Broome really is a place where time stands still, and nothing makes it feel more unreal is the stairway to the moon. You wont find any traffic lights in Broome as the town traffic manages itself with large roundabouts, many of the campervan and RV visitors are found around old Town beach or further out at Cable beach campervan parks. You will really benefit from having a vehicle while in Broome as things are spread out.

You can visit Cable Beach where you can find pristine white sands and endless blue waves. March through October are some of the best times to visit this place. Travellers can go to Matsos Brewery which is a craft beer establishment famous for its delicious ginger beer. Then there’s also the strange phenomenon of the Staircase to the Moon which you can find in Broome town’s tidal mudflats.

Want to visit Broome but don’t have a caravan? We help finance holidays with our caravan loans found here.

3. Monkey Mia

Lastly, we have Monkey Mia which is known for its sunshine and blue skies almost all of the time. Famous for its beaches where dolphins frequent the shoreline Monkey Mia is a huge travel destination for tourists any time of the year. There’s Shell Beach which is about 50 minutes south of Monkey Mia and is one of only two beaches in the world where the shells replace the sand.

Denham offers historical adventure and is a great starting point to visit the Shark Bay region. Travelers can visit the Shark Bay World Heritage Discovery Centre so they can learn about the culture and ecology in the region.

Dolphins are also popular at Monkey Mia and have been visiting the beaches for more than forty years. It’s possible to pet and feed these dolphins by standing knee-deep in the water with assistance from the park rangers.

If you are planning to take a caravan or RV camper van holiday and don’t have a reliable vehicle we can help you. You obviously understand how important it is having a reliable vehicle if traveling the regional lands so take us up on the offer of helping finance your trip. We can help you get finance for your caravan with our easy to use the online application form.