If you’re looking for car loans or personal loans, you’re in the right place! The experienced team of brokers at ZEP Finance can help you get the best auto or personal finance deal to suit your needs. We have a wide range of lenders to choose from, so we can find the perfect finance solution for you.
So, how does car financing work? Sadly, most people walk straight into a car yard, find the car they want to buy and then get suckered in by the promise of instant finance approval. The next thing you know, they’ve signed up for the car finance offer being promoted by the dealership.
Why is this a bad idea? Because car dealerships aren’t governed by the same regulations as car brokers. This means they can tell you literally anything if they think it will help secure a sale. This means that buyers quite often get told misleading information.
Unfortunately, we’ve had many clients come to us after having bad experiences with car dealership finance. Some verbally agreed to an interest rate and repayment amount, only to discover the deal had changed significantly when they went back to pick up the car.
Securing competitive quotes for car loans is actually easier than you might think – just give ZEP Finance a call and speak to one of our experienced brokers.
To find the best car finance loan to suit your needs, we’ll start by asking you some basic information about your circumstances and the car you’re planning to buy.
While you may have a preferred loan term, it’s often easier to start with your ideal repayment amount. The loan term can then be varied to match your preferred repayment value.
When you choose the experienced car brokers at ZEP Finance, you’ll gain access to a great range of valuable benefits, including:
As experienced brokers, we already have established relationships with a panel of lenders. This gives us access to exclusive deals and discounts that may not be available to the general public. These deals can result in lower interest rates or reduced fees, saving you a lot of money over the life of your loan.
With extensive industry knowledge and expertise, our car finance brokers can offer trustworthy assistance through the entire loan application process. We’ll act as advocates for your best interests, ensuring total transparency and integrity. This will give you total peace of mind that you’re getting a great deal, with no hidden costs.
At ZEP Finance, we have access to multiple loan options from various lenders. This allows us to compare terms, interest rates and repayment plans tailored to your financial situation. Comparing a wide range of loans will empower you to make informed decisions so you can apply for the most suitable finance product.
Our experienced brokers will offer personalised guidance throughout the entire loan application process. We’ll assess your financial circumstances, goals and preferences, then recommend loan options and strategies tailored to your needs. This ensures you’ll secure a loan that suits you now and in the future.
As seasoned mortgage brokers, we have developed excellent negotiation skills honed through years of industry experience. We can negotiate favourable terms on your behalf, such as lower interest rates, reduced fees or flexible repayment options, maximising the value and benefits of your loan.
Our car finance brokers won’t just help you secure a loan; we’ll provide ongoing support and advice throughout the entire loan term. Whether you have questions about refinancing, payment options or financial planning, we’ll be there to offer guidance and assistance every step of the way.
Not all car loans are structured the same. In fact, there are a range of different loan structures available for those seeking vehicle finance.
How can you ensure you’re getting the best loan structure to suit your specific needs? Talk to an experienced car finance broker for some tailored advice.
Leasing a car is a popular option when you’re sourcing commercial vehicles. A leasing agreement will give you the use of a car over a specified period (usually 2-5 years), and during this time, you’ll make monthly repayments to the leasing company.
Once the lease term has ended, you’ll typically have the option of returning the car, buying it for its remaining value or leasing a new car.
A chattel mortgage is a finance arrangement where you obtain ownership of the car immediately but the vehicle serves as collateral until the loan is repaid. You’ll make fixed repayments over an agreed period, and once the loan is repaid in full, you’ll be the sole owner of the vehicle.
With a chattel mortgage, you can also claim the GST upfront in the first quarter when you buy the vehicle.
A hire purchase is when a financier buys the vehicle on your behalf and then hires it back to you for a fixed period. You’ll make set repayments over the term of the agreement, and once the final payment is made, ownership will be transferred to you.
A novated lease is a three-way agreement between an employer, employee and finance company. Basically, you’ll lease the vehicle, and your employer will make the payments for you from your pre-tax income.
This is an unsecured loan that can be used to finance various purchases, including vehicles. You’ll receive a lump sum from the lender, which you can then use to purchase your preferred car. Repayments are made over the term of the loan, which will usually come with a fixed interest rate.
When you’re comparing quotes for car loans, it’s important to consider all the details, not just the interest rates. Why? Because interest rates can be misleading, particularly when comparing loans that include a balloon payment.
It is a one-off lump sum payment that you will be required to make to the lender at the end of your loan term (the size of the balloon can be negotiated with the lender). It’s called a balloon payment because it is highly inflated compared to the rest of your repayments. Loans with balloon payments aren’t typically offered by banks but are relatively common with dealership finance arrangements.
Imagine you’re comparing two car loans. The first has monthly repayments of $650, while the second has monthly repayments of only $450. This may seem like an easy choice, but what you may not have noticed is that the second option comes with a $5,000 balloon payment.
The big question now is, how are you going to manage this final lump sum payment? If you think it will be too difficult to handle, you may be better off choosing a loan with a slightly higher monthly repayment but no balloon at the end.
To ensure you’re getting the best deal to suit your needs, ask a car finance broker to do an accurate comparison for you.
If you have bad credit, it’s not impossible to get a car loan. However, most lenders will charge higher interest rates for applicants with a poor credit rating (since they’re higher-risk borrowers).
Some lenders actually specialise in providing car loans for borrowers with low credit scores. If you’re worried about how your credit rating might affect your application, ask a car finance broker for some expert advice.
It’s a loan that allows you to use the funds in any way that you choose. It can either be secured (where you’ll need to provide an asset as collateral for the loan) or unsecured (where the loan is not backed by personal assets, such as a house or car).
Personal loans will need to be repaid over a set loan term (usually between one and seven years), and interest is charged each month on the outstanding balance.
A personal finance loan could be the ideal solution for a wide range of purchases, including weddings, holidays, renovations and other big-ticket items.
When you take out a personal loan, you’ll make repayments on both the principal (the amount you have borrowed) and the interest (an additional percentage the lender charges you).
Personal finance loans may allow you to choose between fixed or variable interest rates. When comparing loan costs, it’s important to consider the comparison rate, which includes the interest rate plus any additional fees (e.g., establishment fee or monthly account fee).
These loans can help cover a range of wedding expenses, including venue hire, catering or photographer fees.
You can use the funds for whatever kind of holiday you want. Whether it’s a luxury cruise, a European summer getaway or a backpacking trip across South-East Asia, with a personal loan the world is your oyster!
Borrowers can carry out a range of home improvement works, such as bathroom upgrades, kitchen renovations or even the installation of a new pool.
With a lump sum payment from a personal finance loan, a borrower can pay off a variety of high-interest debts, such as credit cards or store cards, and consolidate the debt into one easy-to-manage monthly repayment.
Funds can be used to purchase large pieces of equipment, such as lawn mowers, trailers or other machinery. These can be for either personal or commercial use.
Personal finance loans can also be used to fund private expenses like cosmetic surgery or elective medical procedures.
Most lenders tend to be conservative when it comes to bad credit. However, this doesn’t mean it’s impossible to secure a personal finance loan if you have a poor credit history.
If you’re worried about your credit score, and how it might affect your ability to apply for a loan, then contact ZEP Finance for some expert advice tailored to your situation.
Contact ZEP Finance for some free expert advice.
We will discuss your current financial situation and future objectives.
We will compare a range of suitable loan products and then provide you with quotes.
You’ll be invited to weigh in on your options and assess the quotes you were given.
Once you’re ready to apply you’ll need to provide supporting documents and sign the application form (we’ll take care of the rest).
Your loan application will be assessed by the lender (usually within 24 hours).
The lender approves your application and provides a loan contract for you to sign.
The lender settles the loan, and you’ll receive the funds in your bank account.
ZEP Finance Pty Ltd ABN 44 139 018 643
Credit Representative 374069 is authorised under Australian Credit Licence Number 389328
Mortgage Brokers Lennox Head | Home, Land, Investment Loans Byron Bay, Ballina, Northern Rivers & Lismore
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5/74 Ballina St, Lennox Head, NSW, 2478
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