How to Transfer Car Loan to Another Person
A car loan contract is an agreement between a borrower and a lender, and not something that can be just transferred to another person. In order to transfer the car loan, you will may have to transfer the asset as well, and rely on personal agreements for any additional outcomes desired. Such arrangements can get […]
Can You Add a Car Loan to Your Mortgage?
If you have equity in your home, then adding your car loan to your mortgage is a tempting option. Car loans have higher interest rates and repayments to match! Buying a car on a mortgage interest rate is the smarter option, right? Well, not always! In most cases, it will actually cost you tens of […]
When Can You Refinance a Car Loan
You can refinance your car loan at any time, but should only do so if you save money or can better align your finances with specific personal goals. How you time your refinance can determine the extent of the benefit you capture by doing so. If you get his right you could save thousands of […]
Does Having a Car Loan Affect Your Mortgage Application in Australia?
Whether a car loan will affect your ability to get a mortgage depends on your financial capacity and what kind of property you plan to purchase. If you are hoping to stretch the limits of what you can afford then any debt you can retire prior to applying for a mortgage will help. In this […]
Can You Pay Off a Car Loan Early?
Yes, you can pay off your car loan early. However, a better question is whether you SHOULD do so. There will usually be a cost associated with the early repayment of a car loan and ideally the savings in the future would outweigh these costs. But there is much more to consider than this. What […]
Is a Car Loan a Personal Loan?
The fast answer is that a personal loan is more of a general-purpose cash loan that you are free to spend at your discretion. There is nothing stopping you from purchasing a car with the proceeds of a regular personal loan. But this is usually an option of last resort. A car loan is strictly […]
Can You Refinance a Car Loan with the Same Lender
Car loans are long-term financial commitments and it is common for a borrower’s circumstances to change over the repayment period. If the change is positive then cheaper and better car finance options can become available. And if you are a good customer then a lender (but not all) may bend over backwards to keep you! […]
How to Refinance a Car Loan: A Complete Guide
Refinancing a car loan can be as simple as applying for alternative finance with a new lender. But how do you know if you should refinance your car loan? Well, it depends on what you are trying to achieve. You then will have to do some calculations to work out if you will be better […]
Should I get a Car Loan: Buying in Cash vs Auto Finance
A car loan can be a useful tool even if you have the cash savings to buy a car outright. There are benefits to paying cash for a car – saving the interest and fees associated with a loan being the obvious one – but have you considered what else you could do with that […]
What is a Comparison Rate Car Loan
Comparison rates are a tool that is designed to help borrowers understand the real cost of their car loan, and compare different loan options quickly. While well intended, the number can still be misleading when trying to find the best car loan for your situation. A lower comparison rate may not mean a cheaper car […]