First Car Loan
Purchasing Your First Car
Purchasing your first car can be a quite a daunting process as there are many different aspects to consider. Here are four short steps to help you in the process.
Step 1: Finding the right car
At the right price: The car has to be within an affordable price range, whether new or used.
Can you legally drive the car?: The laws regarding vehicle power and type change from state to state for probationary drivers, and it is important to check your states laws to ensure your can legally drive and insure the car. Click here for the Victorian State laws on power restrictions.
Step 2: Financing the car:
Cash: For those who have saved their money and can afford to pay cash.
Borrow the Money: This is where we can help you. Universal finance can find the right loan arrangement for you at an affordable repayment with such feature as no cancelation fees which mean if you come into a bit of money you can pay off your loan early and walk away no more to pay. Give us a call on (03) 9852 7483 or fill out our online application.
Step 3: Insuring the Car:
Comprensive car Insurance : is a legal requirement when borrowing money. Unforseen accidents frequently occur and it’s important to stay protected. Universal finance can also help find an insurance policy to coincide with your car finance and payments.
Tyre and rim insurance: for those probationary drivers who love their cars and the rims that it sits on, you can’t go past tyre and rim insurance. Tyre and rim insurance helps protect your tyres from tyre puncture and even help replace un-roadworthy rims and damaged tyres. For more information click here.
Gap Insurance: is an insurance plan that comes into play when a car is stolen or written off and your motor vehicle insurance payout doesn’t cover the balance of the loan outstanding on your finance agreement.
