Car Finance

What Affects Your Car Loan Interest Rate Beside...

Factors That Affect Car Loan Interest Rates (Besides Credit Score) 📌 1. Loan Term Length✔ Shorter loans (1-3 years) = Lower interest rates.✔ Longer loans (5-7 years) = Higher interest...

How to Negotiate a Lower Interest Rate on Your ...

Can You Negotiate Your Car Loan Interest Rate? Yes! Lenders don’t always advertise their best rates upfront. Negotiating can lower your rate and save thousands over the life of your...

What Car Loan Repayment Terms Offer the Lowest ...

How Car Loan Repayment Terms Affect Interest Rates When applying for a car loan in Australia, you can usually choose repayment terms between 1 and 7 years. ✔ Shorter Loan...

Does the Car’s Value Affect Your Car Loan Amount?

How Does a Car’s Value Impact Loan Amounts? The loan-to-value ratio (LVR) determines how much of the car’s price you can finance. 📌 Key Factors Lenders Consider:✔ The car’s price...

How Do Lenders Calculate Car Loan Borrowing Power?

How Do Lenders Determine How Much You Can Borrow? Lenders assess the following: ✔ Income Stability – A higher, stable income leads to higher loan approvals.✔ Debt-to-Income Ratio (DTI) –...

How Much Should You Spend on a Car Loan? The 28...

What Is the 28/36 Rule? The 28/36 rule is a golden standard in car finance, helping you avoid overborrowing. 📌 According to the rule:✔ No more than 28% of your...