Used car finance Adelaide is for many people a very important part of buying used cars Adelaide. This is why you should compare several used car finance options, apart from those offered by a used car dealer Adelaide, which is often referred to as ‘car dealer finance’.
It is easy to apply online for used car finance Adelaide, and often you will get an immediate decision, or the finance company or bank will call you to complete your online application in minutes.
Often too, many people looking for used car finance Adelaide wish to know what they can be approved for; as far as used car finance is concerned, before they go looking for the used cars Adelaide has on sale.
Many people that have a poor credit history, after used car finance Adelaide need to look for lenders who will do bad credit car loans Adelaide and give people a second chance.
If you are wanting to be pre-approved before you go car shopping, either with used car dealers Adelaide has, or by checking out the car loan lenders specialising in car loans Adelaide online, it is a good idea to compare a few lenders before making a decision. It is as easy as completing an online car finance application, and a car finance expert will contact you and complete the process, so you will know what amount you can be approved for, then you can take advantage of the used cars Adelaide has from the many used car dealers in Adelaide.
It will be worth looking at the used cars Main North Road, used cars North East Road used cars South Road, and used cars Hampstead Road has on offer, because of the many used car dealers that have second hand car yards there. Often these used car dealers will have used car finance options for you as well.
To speed up the process for you, and get an answer on your used car finance as fast as possible, it is a good idea to be prepared. The following is a list of the paperwork, or required documentation that you will need to supply to have your application for used car finance Adelaide accessed:
Each Finance Company, Bank, or lending institution for that matter will have their own requirements, but as a general guide the following will be asked for, so have these items handy to speed the process up:
- Your Driver’s License (Must be valid, and is a legal requirement to apply for finance in Australia)
- Copy of 2 of your most recent payslips
- If you are renting; a copy of your rental agreement
- If you own your home or have a mortgage; a copy of a rates notice (Council rate notice or Water rates notice)
- You will need to complete a 100 point check (medicare card, credit cards, bank statements, passport)
Taking copies is OK, but the original items will need to shown, before the money is drawn down to the supplier / used car dealer.
One of the most asked questions customers after used car finance ask the dealer is “What is the Interest rate?” They do not know the answer to this, as they are not lending the money, and the financier, or lender will only supply the answer to this after accessing the application for finance themselves. Each application for car finance is assessed on its individual merits, depending on the strength of the application.
Another advantage of finding out if you can be approved for car finance first, is you will know what your repayments will be, and you can look for a car knowing that you will be able to afford the monthly repayments.
It does not hurt to compare used car finance, by getting a used car finance quote from a car finance broker, as well as the used car dealer where you have found the used car you’re interested in. Be careful however that you do not keep applying for finance and sign a privacy and consent form repeatedly. This will for many people damage their credit rating, and make it impossible to be approved because they have too many enquiries on their credit file. If you have been declined for used car finance before it is important to get a copy of your credit file and a credit file report, before you apply for used car finance in Adelaide again.
Make a Used Car Finance Enquiry to National Finance Choice SA