123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Investing---Finance >> View Article

Car Financing For Personal Use

Profile Picture
By Author: Belinda Darling
Total Articles: 152
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

The decision to buy a car for personal use can be overwhelming, usually for one reason...money. Luckily there are financing options available for qualified individuals who may need assistance securing money for the car they needs. Getting financing or car loans in Melbourne can be the perfect solution to your problem of not having the money immediately in order to buy a car. Personal loans for car financing are really a great idea because they will help you spend your earned money on assets that appreciate instead of depreciate like a car will. There are three types of personal car finance in Melbourne you may be eligible for.

One type of personal car financing you may be eligible is called a secured loan. This is for people who generally only use their cars for personal use. How it works is that the company doing the car finance in Melbourne will buy the car for the borrower then takes security over it. When the terms of the financing are complete, the borrower will take on full ownership of the vehicle. There are several benefits to this type of arrangement such as it is a small payment each month instead of a large ...
... payment up front. Another benefit is that you can choose the terms of the lease from 24 to 60 months. You may also be able to find car loans in Melbourne that offer a secured loan with no early payout penalty. If this is the case, it can save you thousands if you end the contract early.

Another type of financing for your personal vehicle is a novated lease. This is for people who use their vehicles for either personal or business use. This is where the borrower’s employer will make lease repayments for the borrower and then take the payment out of the borrower’s income. This type of lease arrangement usually will give lower monthly payments. Other benefits of a novated lease are fixed monthly payments, fixed interest rates and a huge tax benefit.

The third option for personal financing is private sale finance. This is where you buy a vehicle from a private seller. This is very similar to a loan you would get for other personal purchases. Though many lenders do not like giving out private sale financing, there are some great companies who will certainly take the chance and give you this type of loan. You may find that you will go through a bit more scrutiny when going through private sale financing but as long as all of your ducks are in a row, so to speak, there should be no problem when you find a company to give your this type of personal financing.

As you can see, there are several options for getting financing for the vehicle of your dreams. As you are getting quotes from companies for a lease, make sure you are doing some comparative pricing and that you are getting the best deal you can. You should also look at consumer reviews before signing any paperwork, just to keep you safe.

What is a novated lease? Call Lowe Finance today and discover the taxation benefits from
novated leasing. With no early payout penalties, you’re in safe hands. With years of knowledge in the transport industry you can trust Lowe Finance for all your
car finance and insurance needs.

Total Views: 318Word Count: 565See All articles From Author

Add Comment

Investing / Finance Articles

1. Innovative Accounting Solutions For Modern Businesses
Author: Business Tax & Money House

2. Can Someone With Bad Credit Still Get A Short Term Loan Online?
Author: Jockey Ferguson is a financial adviser of Fast Pay

3. How To Manage Cash Flow For Online Retailers
Author: Thomas Edward

4. A Detailed Guide Set Up A Company In Ireland
Author: LSC and Partners - Corporate Tax Consultancy LSC

5. Rupay Credit Cards: Your Ticket To Exclusive Rewards And Benefits
Author: Priya

6. Top Upcoming Telegram Airdrops You Don’t Want To Miss!
Author: Cryptoreach

7. The Art Of Diversification - Building A Robust Portfolio For Long-term Stock Market Performance
Author: Broker Analysis

8. 10 Effective Strategies To Boost Real Estate Lead Generation In 2024
Author: Horizon Consultants

9. How To Choose The Best Financial Advisors In Indianapolis For Your Future
Author: Kurt Supe

10. What Are The Requirements For Applying For A Personal Loan?
Author: divya negi

11. Investment Banking Companies In Hyderabad: Your Guide To Financial Excellence
Author: Verity knowladge solutions

12. No Credit Check Payday Loans
Author: Daniel

13. A Complete Guide On All Cfo Services
Author: Vibhay Ranjan

14. Navigating Success: The Role Of Venture Capital Deal Flow Management Software
Author: Fundwave

15. Streamlining Investment Strategies: The Rise Of Fund Management Software
Author: Fundwave

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: