Factors that affect car loans

CATEGORY: SHOPPING FOR YOUR NEXT CAR

When you’re looking for your next car, you may be entirely focused on deciding what you need from your latest set of wheels. It’s not uncommon to forget to think about how you’re going to pay for it, until after you’ve found exactly what you want.

If you’re planning on making your purchase with a car loan, you may want to consider your finances a little sooner. That’s because your ability to get a good car loan will be affected by a number of factors. And while some elements are under your control, others may be a little harder to influence. 

Quick takeaways:

• It’s a good idea to explore your car loan options before settling on your chosen vehicle – it gives you breathing space to decide what’s right for you. Read more
• Your credit score, debt to income ratio, size of loan and a number of other factors are considered by lenders – find out more about these below. Read more

Read on and find out more about the main factors that will influence your car loan.

Apply for a car loan here.