How To Get A Loan Online
01-October-2007
Nick was excited. No more car pooling with Angela.
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We can buy everything over the internet nowadays and cars are no different. Ditto for obtaining a loan. So if you don't have time or the thought of walking into the bank scares you, then organising a loan online for your car may be a good option for you. AutoChic and ANZ take you through the steps...
First thing's first
Before you begin, you need to decide what you can realistically afford to borrow. Break it down monthly and then weekly and remember that the amount that you borrow will also dictate how much interest you pay back. When you have a realistic understanding of what you can afford, then you can decide what kind of car you want. Buying a used car is a good consideration as new ones lose at least 30 per cent of the value as you drive it out of the show room!
Who do I lend from?
There are lots of loan sharks out there in the sea of car lending so the general rule is if it seems too good to be true – it normally is. Remember to look at the total cost of the loan because often a higher interest rate with little or no fees can be better than a low rate but has lots of unseen fees.
Loan-hunting checklist
* What's your credit rating like?
* Ask how low is the interest rate?
* What are the application and annual fees?
* Is there flexibility with the loan repayments without being slogged with a fee?
* Is your loan secured or unsecured? (Secured is normally cheaper)
* Are you covered if you lose your job or take a trip overseas?
Apply for a loan online with ANZ
Click here to get started! You'll need to be over 18 and have a driver's licence, your employer's address and contact number (or your accountant's name and contact number if you're self-employed), details of your income, assets and liabilities. Too easy!
More
Car finance options
Loan application must-haves
Car loans
Loan repayment calculator
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