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The Facts On Car Finance Interest Rates With Enterprise Cars

Tuesday 26 May 2015, 4:34PM

By Beckie Wright

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For those looking around the internet for car finance, they can expect to see a wide range of car loan interest rates advertised. Making sense of them can sometimes be tricky when at the end of the day all we are really interested in is 'what rate will I get?' The thing with car loan interest rates is they will vary depending on many factors and Enterprise Cars advise that as a general guideline, the better the customer’s credit rating and personal profile the better their interest rate will be.

A really good guide for car and bank loan interest rates can be found at http://www.interest.co.nz . They are an independent site that lists the interest rates from most of the larger finance companies and banks. The Enterprise Cars team warn people to be wary of lenders advertising low interest rates, as they may not be as good as they sound. In some cases, people will advertise rates “From X%” but they will have a very strict criteria to qualify for this rate. In other cases they may have built the cost of the interest into the purchase price. For example, some vehicles are advertised at 1% or 2%, where in reality the lower interest rate is given instead of a lower purchase price, so it is important to shop around.

Regarding buying a Japanese or European Vehicle, there are advocates for both, depending on who is giving the information, so the professional and helpful team at Enterprise Cars have a few points on both sides of the argument. For instance, European cars are said to be sturdier in their design and build and they also generally have more of the latest safety features and technology. This can make European cars slightly better in performance and comparatively safer in an accident. Conversely, Japanese cars have a reputation for being more reliable and are said to have a longer life and require less maintenance than European cars. They are also cheaper to repair and can be considered better value for money.

At Enterprise Cars they recommend that these are some of the important factors to consider. However there will always be exceptions, so prospective customers are warned to keep this in mind and which one they choose will depend on their personal circumstances and preferences.

For more information please visit the website at http://www.enterprisecars.co.nz .