Your selected car loans
When it comes to buying a new or used car, choosing a big four bank like the Commonwealth Bank, will generally guarantee you great customer service and access to reliable products. If you do decide to go for this big wig to help finance a vehicle, you’ll have the choice of either a secured or unsecured loan and if you’re a student you’ll skip the signup fee. Continue reading for all the info you need...
Your selected car loans
I took out a car loan at 18 years old which was one of the worst financial decisions I have made in my life so far. Considering my naivety I was hungry for the loan immediately and did not have the knowledge or understanding of this kind of decision. When choosing my loan I was not given appropriate advice. The attendant I spoke to at Commbank didn't offer advice as to whether a fixed or non-fixed rate would suit my loan best and instead advised me to "just pick whatever, it doesn't matter". It did hugely matter and I ended up with a very small initial loan bloated into an out-of-control sum of money I cannot pay back for another 5 years as per the terms of my loan. I still use commbank for my everyday banking but I would say their loan system is ethically problematic and more financial counsellors should be available, particularly for young people without much banking experience.
Reliable and are helpful with resolving problems
Only one very forgiving when comes to overdue payments. All takes is a friendly phone call to my commonwealth bank to state my delayed payment.
Great as long as you work their times here in Wellington NSW
Saw my local bank for car loan, proved less 48hours, all repayments, fees and charges explained, able to pick up my new car in less than a week after picking what I wanted. No fuss bank handled all details with car company.
It took a long time to have my fixed car loan approved as they needed evidence of my entire tax history.
* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
^See information about the Mozo Experts Choice Personal Loan Awards
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