Daily BulletinDaily Bulletin


  • Written by News Company

Before you apply for car finance, you need to know everything you can about this type of commitment. That way, you know what you can expect and how to approach situations.

A car loan is a significant responsibility. You need to be able to cover the repayments, insurances, registration, maintenance and of course fuel. pay their fees on time or risk interest payments that may make it harder for you to catch up. Fortunately, not all car loans are the same, and with a little work you can figure out which ones are best suited for you and your lifestyle.

Information you must know

One of the most popular options for vehicle ownership is through a car loanWhen approved, you receive a lump sum payment to purchase the vehicle which is used as security against the loan. However, if you default on your loan, you can lose your vehicle. To help you make an informed decision, take note of these useful tips:

Know your credit score

A credit score is the first check that a potential lender will undertake when you send in your application. It indicates how well you manage your finances and is verification that you can not only afford to service your repayments but also the operating costs of the vehicle. If you don’t have any debts and have a good record with paying your bills, then you should have nothing to worry about. However, if you have a history of failing to make payments on time and have debt obligations, then there is a higher chance that you may be declined.

Avoid sending in car loan applications all at once

Submitting multiple applications for a loan at the same time can be viewed as seeking to secure more finance than you need. Not to mention with each application, your credit file will be flagged as a potential risk. Instead, send in one application at a time, and wait for a response before sending in another application. This may increase your chances for approval in the long run. Be sure to get in touch with a money expert before committing to a particular lender. Shopping around will often save money.

Know how much you are willing to pay

Before you do anything, first establish how much you are willing to pay each month. To do this, list down your monthly income, subtract your expenses like food, bills, etc. Next, see how much you have left over and determine how much you can spare for repayments on a monthly or weekly basis. Doing this will allow you to be upfront with lenders on how much you can afford within each payment deadline and sets expectations for everyone. It also helps you to rule out certain lenders.

Consider alternative options

If you think you’ll be unsuccessful for a car loan, then consider other options. An excellent alternative to getting a car loan or car finance is a car lease. There are plenty of car leasing companies around Australia to consider.

An advantage of a car lease is that you’re not tied to the vehicle aside from the 3 to 5-year contract period. Once the contract ends, you then have the option to return the vehicle, get a newer model, return, or buy the car for an additional fee.

It's an excellent option for people wanting to upgrade regularly. An additional benefit is that some companies will bundle registration, weekly payments and insurance into one convenient payment, making it more manageable.

Whether you financing option is a car loan or a car lease, both are significant commitments.

Assisted dying referendum: why NZ's law lacks necessary detail to make a fully informed decision


Facial recognition technology is expanding rapidly across Australia. Are our laws keeping pace?


Sure, let's bring production onshore, but it might not ensure supplies


The Conversation


Scott Morrison Covid 19 update

PRIME MINISTER: Good afternoon, everyone. Today I’m joined by Professor Paul Murphy - sorry, Professor Paul Kelly. I’ve got Brendan Murphy still on the brain. You are not far from us, Brendan. B...

Scott Morrison - avatar Scott Morrison

Prime Minister Interview with Ben Fordham, 2GB

FORDHAM: Thank you very much for talking to us. I know it's a difficult day for all of those Qantas workers. Look, they want to know in the short term, are you going to extend JobKeeper?   PRI...

Scott Morrison - avatar Scott Morrison

Prime Minister Scott Morrison interview with Neil Mitchell

NEIL MITCHELL: Prime minister, good morning.    PRIME MINISTER: Good morning, how are you?   MICHELL: I’m okay, a bit to get to I apologise, we haven't spoken for a while and I want to get t...

Scott Morrison - avatar Scott Morrison

Business News

Fifth Dimension: Identified as one of the world’s leading strategic consultancies

Sydney based consulting company, Fifth Dimension, has been recognised for its ground breaking work, receiving a place in the GreenBook Research Industry Trends (GRIT) Top 25 Strategic Consultancie...

Tess Sanders Lazarus - avatar Tess Sanders Lazarus

Understanding Your NextGen EHR System and Features

NextGen EHR (Electronic Health Records) systems can be rather confusing. However, they can offer the most powerful features and provide some of the most powerful solutions for your business’s EHR ne...

Rebecca Stuart - avatar Rebecca Stuart

SEO In A Time of COVID-19: A Life-Saver

The coronavirus pandemic has brought about a lot of uncertainty for everyone across the world. It has had one of the most devastating impacts on the day-to-day lives of many including business o...

a Guest Writer - avatar a Guest Writer

News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion