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Online Car Loans Have A Handy Car Loan Guide For The Self-Employed

Friday 29 January 2016, 3:57PM

By Beckie Wright

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A common experience for the self-employed is the realisation that obtaining a car loan can involve jumping through a few more ‘hoops’ than for those who hold down a steady job. Vehicle finance is one area that can be trickier to navigate for the self-employed, but it needn’t be if people have some good information to hand before they get the application ball rolling and at Online Car Loans they have a handy car loan guide for those that are self-employed.

Perhaps the most important thing people need to consider when applying for car finance is the approach of the lender they’ll be dealing with. Some lenders are very ‘check-list’ in their thinking, which doesn’t really serve the interests of self-employed people very well. At Online Car Loans they take a different approach. By spending some time with their customers and talking about their individual circumstances and understanding the complete picture they are better able to approve a car loan that works for the customer’s needs.

One of the first things they will ask for at Online Car Loans is for the customer to provide their financial accounts, but if this is not possible, six months of recent bank statements will do the job. The Online Car Loans team will also take a good look at the customer’s cash flow to identify the tighter times and find the right dates and repayment frequency that will work. People can also claim a number of expenses against the business, including the interest on the car loan repayments – i.e. the amount of interest paid to service the loan in the financial year, vehicle maintenance and repair, road taxes, and of course the cost of getting from A to B for business purposes, petrol.

So, for car loans that work for self-employed people, give the team at Online Car Loans a call on 0800 08 01 46 or contact them at http://www.onlinecarloans.co.nz