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Finance Options From $10,000 To $100,000
A secured car loan is a loan where the funds provided are used to purchase a new or used vehicle and the vehicle, in this case your Mitsubishi, whether used or new acts as security. The advantage of this option is that you tend to benefit from lower interest rates because it's less risky for the lender. The car you plan on purchasing needs to be in good condition so lenders prefer if it's new but it is possible to get a secured car loan for used cars. The used car can be upto six years old but the age restriction tends to vary from lender to lender. For a secured car loan, the interest rates can either be fixed or variable.
Depending on your financial situation and your circumstances, there are a number of ways you can finance the purchasing of your new or used car and one of them is by applying for a loan. Out of all the available options in the market there is a common option known as a Novated Lease. This loan can help you finance the cost of your car and some of its running expenses as well, while also potentially reducing your taxable income. In this article, we will be taking you through what a Novated Lease is and also help you figure out whether it's the right option for you.
When searching for the right loan that will finance the purchase of your car, carefully considering all your circumstances and options together with acting fast when you need to is important. Having a pre-approval car loan could make things happen fast for you as it will help you lock down that car you have been eyeing for a while before someone else does.