Cars & Motorbikes Car Finance - broker for best deal?

Discussion in 'Living Room' started by Jmillar, 6th Jun, 2019.

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  1. Jmillar

    Jmillar Well-Known Member

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    26th Jun, 2015
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    Sydney
    Looks like I'm going to need a new chattel mortgage in a month or 2. Can anyone suggest the best way to find the best deal? Would it be to go through a broker who specialises in car loans?

    If so, can anyone recommend someone?

    Thanks
     
    Jmillar, 6th Jun, 2019
    #1
  2. Fargo

    Fargo Well-Known Member

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    Probably, but not always. The only way too find out is ring some and get quotes. You may want to get your accountant to look at the numbers because sometimes supplier obtained finance is nor as cheap as they indicate I have had my accountant run some numbers and the calculation are wrong funnily never in my favour.
     
    Fargo, 7th Jun, 2019
    #2
  3. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

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    Location:
    Sydney
    Fargo is right - get a couple of quotes so brokers have to build in their commissions into the rate. It works very differently to home loans.

    So broker A might put a 1% margin whereas broker B might put a 2% margin and so on.

    There are also different ways of structuring the loan in order to get a cheaper rate so again definitely ascertain a couple of quotes.

    It should take a broker literally anywhere from 5-15 minutes to put a quote together.
     
    Shahin_Afarin, 7th Jun, 2019
    #3