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CASE STUDY: Finding finance through a car loan broker

By: Greg Bell

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Brett and Shane are electricians who had been working for a large firm of contract electricians, but are now looking to start their own business.

To get set up in their new business a car was their first essential purchase, as both had previously driven their employer's vans. Shane wanted a ute and Brett wanted a 4WD that could accommodate his family on weekends, so they went looking for a car loan.

Brett went to see his credit union about a car loan, but because he had left his employer, the bank made it clear it would be difficult to get approval. Shane contacted a car loan broker. The broker firstly asked questions about Shane's financial position and needs. He then discussed a number of finance options including a personal car loan and leasing options as an alternative to traditional car loans. The car loan broker quickly sourced a car loan for Shane's ute. Within 24 hours, Shane had approval for his purchase.

When Shane mentioned how easy it was to find a car loan using a broker, Brett decided to talk to the same car loan broker. Brett found that unlike his bank, the car loan broker had access to a huge number of car loans and other finance options. The car loan for Brett's 4WD was approved by the following day.

Using a car loan broker

Since the 1990's, Australians have become used to the concept of a mortgage broker, to the point that most home loans are now purchased through mortgage brokers. However, many people are unaware of the services offered by car loan brokers. Just like a mortgage broker, a car loan broker has access to a number of different car loan alternatives - from unsecured loans to secured car loans and other car finance alternatives such as car leasing etc. Car loan brokers offer their expertise for free because they are paid by the car loan provider, just like a mortgage broker.

With so many different car loans and lenders in the car loan market, using a car loan broker who knows the options can save time in evaluating car loans and save you money on the car loan interest rate. A car loan broker can help you compile your information through their fast and simple car loan submission process to ensure a car loan approval in the fastest possible time.

Benefits of a car loan broker

- A car loan broker can find the right car loan for your situation.
- Car loan brokers source car loans from a large number of lenders.
- A broker can find the cheapest interest rate.
- Car loan brokers save you time by evaluating car loan alternatives for you.
- Car loan brokers deal in all types of car finance including leasing, hire purchase as well as car loans.
- Even with a bad credit history, you can get an approval on a car loan when you use a car loan broker.
- A broker can find you a car loan for business vehicles as well as cars for individuals.
- Expert car loan advice is provided for free when you use a broker.
- Some car loan brokers offer value-added services such as a car-finder service.

360 Financial services offer a car loan brokerage service. Contact their friendly consultants about car finance alternatives today.

Article Source: http://depositarticles.com/

Car loans and car finance. Visit 360 Financial or direct at car loans

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