Car loan news and advice

All the latest car loan news and top tips to help you manage your car loan.

Is refinancing a car loan worth it

Is refinancing a car loan worth it?

In this current low-rate environment, refinancing has become common practice for many home loan holders to shave thousands off their mortgage. But is refinancing your car loan a good idea? Let’s take a look at the numbers: Since 2016, there have been eight cuts made to the Reserve Bank of Australia’s (RBA) official cash rate. It now sits at an historic low of 0.10% from 2.00%. The current average variable car loan rate for new and used vehicles sits at 6.68%. When you compare that to the average rate at the same time five years ago, 7.82% - that’s a 1.14% difference.  In the case of home loan interest rates, the current average variable rate is 3.30% from 4.72% five years ago. While that is a 1.42% difference, the small margin can make a significant difference because home loans are generally around 25 to 30 years. So the question is, should you refinance your current car loan? We’ve weighed it up.

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Wisr joins online car loan lenders club with competitive 6 08 rate

Wisr joins online car loan lenders club with competitive 6.08% rate

Whether you’re looking for a car to get you from A to B or want to get behind the wheel of your dream ride, there’s good news. Wisr, known in the market for great value personal loans, have just launched their very own secured car loan that will have you all revved up. Joining other online lenders with secured car loans, Wisr offers car finance with a competitively low comparison rate starting just above 6%. Yes, you’ll need to have excellent credit to get the best rates they offer, but with a variety of rates to suit all borrowers, you’ll be able to borrow between $5,000 and $50,000 and enjoy zero early repayment or exit fees too.“The entry of Wisr into the secured car loan space is great news if you’re in the market for a new car and you’ve got a solid credit history”, said Mozo Expert Peter Marshall.“With post-pandemic change in the way Australians use and purchase new cars, there has been an increase in lenders competing for business, making now a great time to purchase a new vehicle”, he further explained.So if you’ve been thinking about getting yourself a new car, now could be a good time for you to join other Aussies reaping the benefits of new-to-the-market, low rate car loans.

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How to finance the top 5 cars of june 2020

How to finance the top 5 cars of June 2020

When purchasing a brand new car, there are loads of different factors involved - finding the right car loan among them. With a seemingly infinite amount of finance options available, choosing a loan can be daunting.So to help get you started, we’ve put together a quick little wrap-up on the top five most popular cars in Australia of June 2020 (based on sales), according to the Federal Chamber of Automotive Industries (FCAI). Here’s how you might go about financing each with the right car loan:

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How the right car loan could save you thousands in interest

How the right car loan could save you thousands in interest

The truth is, not all car loans are the same. While some interest rates are as low as 2.99%, others go all the way up to a hefty 11.49%. So if you need a hand weeding through the loans on offer to find yourself a good deal, you’ve come to the right place.

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6 ways to cut car costs & boost your savings

6 ways to cut car costs & boost your savings

As COVID-19 lockdowns begin to ease, many of our pre-COVID expenses are starting to resume, which could spell trouble for your savings. However, while your lockdown-saving style mightn’t be so realistic anymore, by ditching any major money-drainers you can limit your outgoing costs.

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