What’s the real cost of 1% car finance?

1percentfinance

Car dealership finance – it seems so easy. You roll up to buy a new car and the dealership offers you a great finance deal – maybe even with 1% interest. Why not sign up? It saves you the hassle of shopping around, and it seems like a great offer.

But are you really getting the best deal?

Look at the fine print

The special rate offered by car dealerships is designed to get you in the door where their salespeople can close the deal.

While the interest rate may be low, there are often hidden factors that will increase the overall amount you pay. Check the fine print of your deal and run the numbers before you sign.

It’s advisable to read the offer carefully, asking questions like:

Consider the options

Before you sign on the dotted line with dealership finance, consider your options. A car loan from a financial institution or a novated lease may suit your circumstances better.

Want to know more about the alternatives?

A beCarWise novated lease could be the smartest and most tax-effective way to buy your next new car. Talk to us for independent, reliable advice about the available options. We offer obligation-free quotes to ensure you get the financing option that’s right for you.

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