The best ways to finance a car in Australia

Melbourne, Australia, 22 December 2021 / PRNewswire / – Buying a new car is a big decision and the financing options are vast: apply for a car loan, find the best personal loan that can be invested in a car, sacrifice a salary, tap into savings or even go on a hire purchase. Positive Lending Solutions, experts in all types of loans, from auto loans to boat financing, reveals their best advice for financing a new or used car in Australia.

Positive Lending Solutions explains that like any other type of financing, from personal loans to caravan loan To a boat loan, auto financing is a great way to get quick access to a vehicle and can even allow motorists to purchase a newer or more expensive vehicle than they could otherwise afford. Auto Financing is highly recommended by Positive Lending Solutions because not only does it speed up the car buying process, but it also serves to dramatically increase a borrower’s credit rating if the repayments are made on time.

Another common way to finance a car is payroll sacrifice, according to Positive Lending Solutions. Using this method, employees sacrifice a portion of each paycheck; employers then pay this part directly to the lender. Positive Lending Solutions explains that the benefit of sacrificing salary is that funds are taken from pre-tax salary, which means it could reduce the amount of tax the buyer has to pay on their salary each year, while still paying off a car loan. .

Credit experts advise against dipping into savings to buy a car on the spot. Research shows that it takes the average Australian two years to save for a brand new car; auto credit, however, allows buyers to get their hands on a new or used vehicle immediately.

To find the best auto loan or Personal loan Australia large and start the car buying process, contact Positive Lending Solutions today.

SOURCE of positive credit solutions

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