- In First things first - Steps before applying for finance, Motoring matters - The workings of vehicle finance
It’s a fact of life that not everyone whom applies for a car loan will be approved.
Its another fact, that if you truly, 100% believed that you would be declined for a car loan – you wouldn’t bother applying.
Yet so many people truly believe that they will be approved, or approved for the amount they want. There has been unqualified research at best put into consideration, customers asking their bank a flippant question about their income or using online calculators.
Or in other cases, you jump completely into the deep end, hoping that everything will stack up in your favour.
I am still surprised at the number of people that don’t seek a second opinion when they visit a car yard. They take the dealerships word verbatim.
The dealership will rarely run a full assessment on your financial circumstances before putting your application through. They will rarely shop around for the best lender for your circumstances (as not all situations are alike, and lenders certainly do not believe that they are).
This can affect not only the repayments quote you are given by the dealership but even whether you are approved at all.
As finance personnel at car dealerships are rarely qualified in finance broking, they generally input the numbers into the system and wait for a result – good or bad.
A much better approach for you, the consumer, is to have several options presented to you – fully assessed – but without marking your credit file.
But without knowing what questions to ask, many of you will be barking up the wrong tree and receiving false reassurance only to be shocked when you do not receive the outcome that you desire.
Don’t take a gamble – this is part of your financial future!
If you would like to know upfront whether you have a real chance of being approved for your car finance, then speak to us at Bee Finance Savvy on 1300 140 554, or email us at firstname.lastname@example.org.
You can also see reviews from some of our happy customers at http://www.womo.com.au/reviews/Bee-Finance-Savvy-Miranda/ and hear what others have to say about their experience with us.
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