Around every five to seven years many car owners start contemplating when to make their next car purchase. For some this means stepping up or down while for others it means expanding into new automotive categories. Whether you are shifting makes or models, all car buyers will eventually need to consider one thing. And that is the means which the purchase will be financed.
Indeed, there are many ways to procure the funds for a purchase. Savings and cash are key, along with proceeds from a recent vehicle sale, or the value of a trade in. In many instances buyers bridge the gap between the deposit and total purchase price with a loan. Be it accessing a mortgage redraw facility, a personal loan, or a car loan there are plenty of options.
But with almost as many financing options as there are available cars, finding the right one can be challenging. Features like low fees and flexibility may tick some boxes, yet there is no simple single answer for finding the best car finance. Ultimately, it is all about finding what is best for you.
This means taking the time to reflect on your financial circumstances and automotive needs. And, overlaying these with various loan types, features, and options. Do remember that content provided in this article is merely a starting point. Always consider your individual financial circumstances and seek independent professional advice relevant to your situation. To help get you going, here are out picks of the best car finance providers in the Wagga area.
What makes a great car finance provider?
Finding the right provider to finance your next car purchase can potentially save time and of course money. While it all depends on what you want as a borrower, here are a few aspects to consider:
- Lender credentials. As always, consider a provider’s reputation within the lending space. Firstly, ensure mandatories certifications and licensing are all up to date, then move on to credentials. Much like in the home loan space, some providers have a more favourable reputation than others. They may be widely recognised within the industry or be known for their market leading loan products. Some may even be award-winning loan providers.
- Competitive rates. For many applicants, driving loan costs down are key. Regardless of whether you are seeking a fixed or variable outcome, competitive rates Fortunately, there are many car loan comparison tools available online which can help to streamline options. Moreover, engaging to services of a broker may also help.
- Suited to use. The intended use of your new vehicle purchase can also influence the nature of a loan. While car or personal loans and mortgage redraw facilities cater to many private vehicle purchases, they don’t suit everyone. Buyers shopping for vehicles intended for business or commercial use may find added benefits in leasing. Similarly, buyers considering an eco or electric vehicle may find appeal in green car loans. Ultimately the right option will depend on your individual needs and financial circumstances.
- Favourable features. When it comes to securing finance for your new purchase, keep an eye out for the loan features that synchronise with your ambitions. New vehicle aside, these ambitions could include securing the lowest costs or the ability to pay off your loan as quickly as possible. Here features like low interest rates, no or low loan fees, and flexible repayment terms may all help. Additionally, researching the best loan type and the right loan term can help to strike a balance between instalment affordability and overall duration.
- Service. While a fraction of a percentage point may separate some lenders from the rest what also counts is service. Being easily accessible, readily available across a range of mediums, and overall responsiveness are all key. To assess a provider’s service levels, review past customer feedback along with any service awards.
The best car finance providers in Wagga
Region Riverina has combed through online reviews and recommendations to compile a list of the most recommended businesses according to you.
To be listed in our Best of Wagga series, each business needs to have consistently received positive feedback on Region Riverina and Facebook as well as maintaining a minimum average of 4/5 stars on Google.
Wagga Motors Car Finance
With a local legacy that stand over seventy proud years, Wagga Motors are positioned as one of the premier car dealerships within the Riverina. Home to an extensive range of cars, vans, and trucks; they boast hundreds of models from a range of the world’s leading manufacturers including Mercedes, Renault, and Jeep through to Hyundai, Honda, and Ford.
Principals Richard and Scott Braid have built an enviable reputation for their impeccable service standards. Driven by a desire get clients on the road, and on their way, their team of experienced sales, support, and service staff know how important finding the right vehicle can be.
With a steadfast focus on delivering the utmost in client care, they strive to source vehicles that suit the needs, lifestyle, and individual preferences of their customers. To further simplify the new car purchase experience, Wagga Motors a convenient trade-in option along with hassle free finance and leasing. Business Manager, Joshua Kennedy, works with some of Australia’s most credible lenders to secure competitive financing for Wagga Motors clients.
To keep new vehicles operating at their peak, the team also delivers maintenance at their state of the art service facility. Their skilled technicians and use of genuine parts provides added quality assurance. To further round out their offering Wagga Motors also provides car care services including exterior coatings and window tinting.
Open Monday through to Saturday their friendly team are readily available to assist with all new car needs. For easy financing on your next car purchase look no further than Wagga Motors,
As Michelle Staunton shared on Google, “Great service all round at Wagga Motors from the sales department to the service centre. Fabulous to deal with & would highly recommend!”
Mortgage Choice Wagga Wagga
A part of the national Mortgage Choice group, Jade Freeburn stands as Wagga’s local loan broker. While mortgages are of course a key part of his service, Jade also offers car loans and leases, refinancing, asset financing and debt consolidation services.
With access to a wide range of lenders including Australia’s big banks, Mortgage Choice Wagga Wagga can help to find the right financing solution for both private and dealer sales.
Claire Bibby had this to say on Google, “Highly recommend Jade and his services at Mortgage Choice, he certainly knows the finance industry well and provided options/solutions to my questions. Jade's customer service is exceptional, very professional and kept us informed along the way. Jade made the process so simple and easy.”
The Finance Collective Wagga
The Finance Collective are all about delivering a tailored approach to suit their clients personal and financial needs. As brokers, they work with numerous lenders to source and secure home, business, equipment, and vehicle loans.
What sets them apart is their regional connection, face-to-face convenience, and readiness to put in extra legwork. With offices in both Wagga and Griffith, and over fifteen years combined experience The Finance Collective are a great choice.
Ben Bedwell shared this sentiment on Google, “Can’t recommend Nic and the team at the finance collective anymore. Very professional, got us sorted out with no worries and took all of the uncertainties out of it.”
Mainland Finance
Wagga based regional finance specialists, Mainland Finance, have a wonderful reputation for their personalised service and range of financial products geared to the local market. In addition to home, commercial, and agricultural financing, the team also offer vehicle financing.
Servicing both business and personal use clients, they offer a range of financing options including specific security agreements, hire purchase, along with novated, operating, and financial leases. For a friendly chat pop into their Bayliss Street branch.
Cory Irvin shared this review on Google, “Brad was fantastic to deal with and easy to get in contact with for any questions. Definitely recommend!!”
Ready to go shopping? Our articles on the best car dealerships and the best used car dealerships in Wagga may help. And to keep your next vehicle in tip top condition check out our article on the best mechanics the region has to offer.
Your experience with car finance providers Wagga
Thanks to our commenters who have provided insightful feedback. If you believe we have got it wrong, please let us know.
Have you had experience with any of the car finance providers listed above? If so, share your feedback in the comments below.
Frequently Asked Questions
What are my financing options when buying a car?
There are numerous financing options available to consumers wishing to buy a car. Some of these include a standard loan, a finance lease, a novated lease, a commercial hire purchase, and a chattel mortgage. The right option is generally the one which suits your own individual circumstances and needs best. So, be sure to explore available options along with their pros and cons before making a choice.
Does financing a car have advantages?
Taking out a loan to finance your next car purchase effectively reduces the overall cash outlay required, allowing your funds to be used for other purposes. Purchasing a car under finance can also extend your choice of vehicles based on what can be repaid over time. For businesses, car loans may improve cash flow and for those eligible offers potential tax deductions. Aside from independent research, your accountant or financial advisor may be worth consulting in this instance.
How can I compare car loans?
There are a variety of ways in which one car loan can be compared with another. Factors like secured versus unsecured, interest rates and whether these are fixed or variable, the comparison rate, loan term, repayments, conditions, and extra fees are all good starting points. Always review loan terms and consider seeking professional advice before proceeding.
What is a car loan guarantor?
A guarantor is a third party, usually a relative or friend, who guarantees to meet the repayments of a car loan should the borrower default. Guarantor car loans can be useful for those who may otherwise struggle securing a finance such as applicants with bad credit or without any credit history.
Can I pay off my car loan early?
While borrowers can usually pay their car loans out ahead of time, the nature of how often depends on the lender and the terms of their financing agreement. While paying off a car loan early may save on interest repayments, additional fees or charges may apply. Be sure to review finance options before proceeding to ensure they are right for you.
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