Car Loans
Want to purchase your first car? Upgrade your family car? Finance a car for your business? Our team of brokers can help.
Whether you want to finance the car of your dreams or take out a loan for a vehicle that will make your life easier, the team at MortgageWorks can help you find the right car loan for you. Want to purchase your first car? Upgrade your family car? Finance a car for your business? Our team of brokers can help.
There are many things to consider when taking out a car loan. Things like: what’s the lowest interest rate you can get, how flexible is your loan term, would you prefer a fixed interest rate, and what are your repayments like?
We’re here to help you answer these questions and many more. Here are some of the most common questions we come across when helping people like you find the best car loan.
What is a good interest rate for a car loan?
In 2021, the average APR for a new car loan was 4.09%, and 8.66% for a used car loan. Note, your credit score heavily influences the interest rate you’re able to secure for your car loan. A credit score of 650 will secure a very different interest rate to a credit score of 800. We can take a look at your finances and inform you of the most appropriate and competitive options available to you.
Why should you go through a broker for a car loan?
Put simply, brokers can help you find the best loan. How? By comparing all the options on the market and negotiating the best terms and conditions for you.
Is it a good time to buy a car?
This is a question we get often.
Buying a car is very similar to purchasing a property: the market has ebbs and flows, and sometimes the car market might be at a high. In saying that, there are general rules for acquiring a car. For example, the winter months tend to be lower in car sales and are often when dealers are clearing their stock.
This could be a great time to land a good deal. If you’d like more insight, tips, and tricks, don’t hesitate to reach out.
