Things To Consider Before Choosing A Vehicle/Car Loan

Women sitting looking at finances on paper before getting a vehicle loan

Wanting to purchase a car? Congrats!! But wait for a minute. Before you opt into a contract for a car/vehicle loan, browse our article for some things to consider!

Have you contacted any certified proficient car finance broker?

With the quantity of cars available in the market, finding the best one for self is mind-boggling and time consuming. Before you begin comparing vehicles, it’s essential to see the amount you can spend, as well as the features you’re searching for. Also, go for car loan security if finances are an issue. For further information or recommendations specific to your circumstances, give us a call on 1300 722 744 today!


What is your budget?

What amount would you say you are willing and ready to spend on a car? In a perfect world, you’ll have the option to set yourself a reasonable price ceiling and choose straight away whether you’re searching for a new or used vehicle. At EFT Capital, we offer car/vehicle loans for new & used cars.

  • If you have restricted money, you might need to consider a used car or demonstrator model for which you can apply for personal loan for car.
  • In case you’re adaptable in terms of money, you may want to invest your money in a new one.


What features do you need?

The number and size of seats

  • Sports cars are restricted to two seats, and small cars are a bit crampy for five people.
  • If more than five seats is your requirement, you can limit your hunt down significantly and take a look at SUVs.


  • If you are looking for a fuel efficient car then look out for hybrid, electric, and small cars. This way you will be able to reduce your driving cost.

Extra room

  • Hatchbacks and smaller vehicles will have constrained boot space, which might be an issue for families or those hoping to utilize the vehicle on trips away.

Where you’ll utilize the car

  • In case you’re planning for a rough terrain you may constrain your inquiry to 4WD or AWD vehicles.
  • But if you need a car for city purpose only then a small car is the best choice to go with.


  • While most new vehicles will accompany aircon and power windows, there are different features. For example, Bluetooth, parking cameras and in-car screens that may be worth considering.


Probably the best advantage of choosing a car finance broker is that you will discover different lenders that are in rivalry ready to have a quality business. The primary concern here is how you will pick the broker that is right for you.


What To Find In A Broker

Someone Who Understands The Business

  • It isn’t hard to check whether an individual knows what he’s saying. Try to judge the broker when he communicates with you, you will figure out whether he understands the business or not.
  • With regards to the money business, any little mistake can be exorbitant. You would prefer not to wind up with a damaged credit file brought about by the broker’s absence of experience and ability.
Your Comfort
  • There are chances that you may not feel comfortable with a good finance broker. To distance yourself from such conditions, it is important to pick the one with whom you are comfortable to work with and who you feel is the ideal individual to answer your questions and help you in the right manner.
  • It is necessary for any credit assistance provider to be a credit representative or licensed of an Australian Credit License holder. Any broker who is none of these, is bound to be trading on illegal grounds.
  • REMEMBER, There is no harm in asking for credentials!


  • Make sure your car loan finance broker is sharing every detail with you. If the individual is reluctant to give all data through email; trust your gut. It sounds fishy.
  • Complete and authentic information acts like evidence if anything turns out badly or you disagree with the broker at any point of time.
  • Is it accurate to say that he is not ready to offer all the information in writing or via email? Having papers implies having evidence in case something happens in case of disagreement.


  • It is essential for you to get along with your broker. Not feeling good with that individual can make the business transaction unhealthy and sour.
  • You need to confide in your finance consultant as he will dig into your money related circumstances and truly become acquainted with your financial status.
  • If a broker fails to impress you, you have all rights to hire someone else.

How Many Lenders Do They Offer?

  • Limited number of money lenders will not serve you any benefit from the best deal available for you. Find an agent who has a broad lending panel that can offer various car loan options to choose from.
  • A decent size lending panel can have a noteworthy effect. AND assist you in finding the best deal!
  • It is not an easy job to search for the right and best car finance broker in Australia but EFT Capital is here to help you out.
  • Analyse every aspect of the broker, know precisely what you need to discover and, in the blink of an eye, you will have the best car loan in Australia for you.
  • Car finance brokers will surely fix the best deal for you but if finances are still trouble for you, you may be better off opting for a personal loan instead!




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