Car Finance and Car Loans

After carefully considering how much you can afford to spend on your car loan payments, we recommend that where a car meets your needs you would rather buy a smaller car that’s newer than a large car that’s older. The costs of owning a larger will be more the running costs - fuel, maintenance, tyres, spares are expected to be higher. We recommend you will find the best value in something almost new - two years or younger.

When you choose a car between 3-5 years old and has been treated well by its owner could also provide good value for money. Used cars that have travelled between 15,000 to 20,000 kms a year are great buys.

Ex-Fleet or Rental Cars
Can represent great value, but you need to consider that these cars have been driven by hundreds of different people in most cases with little or no regard to the treatment of the car.

Odometer Fraud
Make sure that you purchase a car history report to protect you against odometer fraud. Once substantially more common than can be found today, there are still numerous examples of consumers being taken advantage of by deceptive sellers. If there is a unusually high wear and tear on the drivers seat, accelerator and brake pedals, its usually a good indicator that further investigation may be required A good indication.

By investing so much time in ensuring your have the best car finance, don’t be too quick to choose a car without getting a mechanical inspection for your peace of mind. Basic mechanical inspections can costs as little as $100 and can provide great peace of mind.

Car finance pre-approval can assist you with making the purchase of your new car easier, but it’s not the only factor that requires your consideration. It’s a good idea to consider several other important factors that would apply to any car purchase.

How will you use the vehicle? How long do you plan on keeping the car? What is your monthly budget for fuel and maintenance? How much will insurance cost on this type of vehicle? What are the repair costs? Does this model have a good reputation as being a reliable car?

Since you could be driving your new car for many years, it’s important also to consider whether the car will meet your lifestyle and image today as well as in the medium term.

Right now is a great time to buy small and mid-sized cars as these cars are available at great bargains and in higher volume than ever before. Talk to friends or acquaintances who drive cars that appeal to you; word of mouth is often one of the best ways to gather information about reliability of certain models of cars that may be on your short list.

If you would like to discuss your car finance or car leasing needs, please feel free to contact one of our experienced car loan consultants on 1300 887 967.

Buying a new car present it’s own set of issues, but when you buy a used car it’s can be more complicated and requires you to undertake some research. Arranging the best car finance before you go shopping for your next car is only one of many important factors you should prepare for.

There are many things that you should do and just as many things you should not do when it comes to buying a used car. When buying a used car there is the fear of the unknown and often concerns about what may already be breaking or what’s already been fixed.

That being said, not all aspects of buying a used car are bad. Used cars offer great price advantages over buying new and can sometimes be the smarter option.

Another bonus of a buying a used car is you get to avoid all those dealer charges that are only reserved for new car purchases such as dealership fees for cleaning, shipping, and other pre-delivery charges. A used car, even when bought from a dealership will have all of these fees included and disclosed in the purchase price, so you can be sure of staying within budget.

We all agree and understand that when buying anything pre-owned it obviously carries a certain degree of buyer risk. New cars offer peace of mind that no one has driven the vehicle carelessly or failed to have it maintained on a regular basis. And, if something does go wrong, the car is under warranty—at least for a period of time.

Knowing which cars to buy can alleviate much of the tension often linked to buying used cars and can better prepare you to buy your next car. If you are prepared to invest time to do the research, you will soon be driving the car of your dreams, secure in the knowledge that you paid a fair price and enjoy peace of mind.

At Madison Finance, we are pleased to offer a range of used car finance and the best car loan products that can also provide you with that same peace of mind.

If your car finance repayments are too high you may look to refinance your car loan to lower your monthly payments. This may be achieved through extending your loan term, changing your loan structure or by choosing a car loan with a low interest rate.

Refinancing may provide an opportunity to secure better terms and at a lower interest rate with less fees. Our motor finance consultants can assist you in reviewing your current car loan agreement to help you determine if refinancing can provide you any additional benefit in costs savings.

Just a quick note to say thanks to the Madison Finance team for all your help with arranging my car finance on the new Volvo C-30. We picked the new car on Wednesday and couldn’t be happier. It looks great in black with the 18-inch wheels etc.

I will have no hesitation in recommending Madison Finance to everyone I know looking for the best car finance and customer service.

David of Gisborne, Victoria.