Once you buy a car and after that when you try to resale it, you cannot expect the same value or higher because over days it deteriorates. Investing in a car and taking loans for it and to repay it is not a smart idea. You have to pay the interest with the real amount of loans but the value of the car decreases. Personal cars are great as an asset, but when you are thinking of a car loan, think it twice because it is not wise to get a loan for a car which you cannot afford. There is also a difference between what you can afford and what you should spend. While searching for cheap car loans Brisbane at http://www.paleso.com.au/car-loans/, you should keep in mind your ability to finance the car.
First understand your credit score before go to the dealership:
Car loans are quite easy to get but there is also a risk- if you cannot pay that money then your bank will reposes that car. Car loan rates vary and if you do not have a good credit, then it is hard to get a loan and the rates are high. Dealers know that very well and they try to make fool of their customers. But if use tools which can tell your credit score, then you can get an assumption of the best car loan rate. New cars sometimes get the lowest interest rate, but only the customers who have the best credit score will get that rate. Those who have slight low score will get a slight higher rate and those who have very low rate they have to pay a huge amount of interest rate for loans.
If your credit is not perfect, then get financing quotes before you go:
Those who have best credits they will get the best rate, but those who have lower credit they should get a financing quote from banks or local credit union. It would help them to arrange their money for their new car purchase.
Keep the term as short as you can afford:
If you go for short term loans, then you have to pay higher monthly installment rate. But if you choose a long term period, then you have to pay a huge amount of interest though it seems to pay less in months.
Pay for taxes, fees, and extras with cash:
Extras fees come free when you buy a car in forms of registration fees, sales tax, extended warranty etc. Dealers will try to make all types of extras with your loan but avoid it; instead of paying that loan pay these extras with cash.