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Enterprise Motor Group Show How To Be Smart With Your Car Loan

Friday 8 July 2016, 2:14PM

By Beckie Wright

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The professional team at Enterprise Motor Group recommend that people ‘match their finance to suit their situation’ before applying for a second hand car loan, and they have pulled together some areas for people to explore before they apply for a loan, giving them the information they will need to get a car loan that’s right for them., and the first is to look at is their credit record.

 

Your credit record affects the ability of companies to lend you money, and is basically a record of your financial performance in relation to payment of debts like home loans, hire purchase, and any other finance agreements. It can include details on items such as utility (power, rates etc.) or mobile phone bills. For those who are not sure of their status, they can request their records at the New Zealand government website for details on how to get hold of them. If their credit record is poor they may be refused credit, or have to pay a premium to borrow money because of the risk that they may miss a payment.

 

The Enterprise Motor Group team advise that building a realistic budget is essential to managing a loan, and people will need to work out how much money they have available to make repayments, and how regularly they would like to make them. The higher the deposit upfront, the smaller the loan will be which means lower repayments, or the ability to pay off the car even faster. Also, circumstances can change so people should look ahead and work out if their circumstances will make it important to shorten the duration of the loan. The Enterprise Motor Group team reiterate that the shorter the length of the loan, the less likely people will hit roadblocks along the way. As they say, being prepared can help people understand exactly what they need from a car loan, and the team are there to make sure they are flexible to their customer’s circumstances, working hard to make loans to suit their customer’s needs.

 

For further information on Enterprise Motor Group’s car finance services, please visit the website at http://www.enterprisecars.co.nz .