When shopping for a new car, most people do extensive research to find the best vehicle for their needs. Fuel consumption and reliability are among the most critical buying considerations to keep running costs as low as possible and ensure the highest possible value for money.
When it comes to car finance options, exploring the available options is just as important as the car you choose. Selecting the best car loan can save you thousands of dollars in fees and interest, and it can help you repay your loan faster.
To make sure that you select the best car financing, you need to consider various factors, including:
- Loan terms
- Interest rates
- Application fees
- Monthly service fees
- Eligibility requirements
The best car financing companies will offer hassle-free financing with no-obligation quotes and personalised finance packages. At Westside Auto Wholesale, we go the extra mile to provide you as a prospective car buyer with the highest possible value. In addition to streamlining the purchasing process, we ensure that your long-term costs are as low as possible.
This guide takes an in-depth look at why you should consider our car finance options instead of conventional lenders.
About Westside Auto Wholesale
At Westside Auto Wholesale, we are an award-winning used car dealership in West Australia that has been in business since 2002. Currently, we are the largest single-site used vehicle dealership in the country, with more than 2,000 vehicles in stock. Due to our commitment to exceptional customer services and environmental goals, the Council for Small Business Organisations Australia (COSBOA) and Podium selected us as one of Australia’s Most Loved Local Businesses.
Our Services
At Westside Auto Wholesale, we are a one-stop auto dealer providing customers with a reliable platform for buying, selling, and trading used vehicles. Our convenient car financing solutions are integral to our services, and they offer an extensive range of advantages to Australian buyers.
If you are in the market for a used vehicle, you can expect a wide range of benefits, with attractive pricing being the most significant. Our large warehouse in Perth delivers over 1,000 vehicles to buyers per month. Our high turnover allows for lower margins, which means we can offer our customers vehicles at relatively low prices.
We offer an extensive vehicle range that includes all categories for the general public, including utes, SUVs, MPV, hatchbacks, and sedans. Our dealership also has vehicles available for small business owners, the industrial sector, and fleet buyers.
Before making a vehicle available for sale, we carry out a complete and multi-point independent mechanical inspection. When buying a vehicle from us, you can rest assured that you won’t have to deal with reliability issues or costly repairs.
We Offer the Best Type of Car Financing
When buying a car, you have a wide range of financing options available, depending on your credit history, income, and financial obligations. Each car loan is unique in terms of duration, interest rate, and the monthly payments you need to make.
Before accepting a loan offer, you also need to consider the comparison rate. This figure helps you calculate the actual cost of a loan, including the interest rate, fees, and other charges. The types of car loans available in Australia include:
- Chattel Mortgages: This type of car loan follows the same mechanism as a property mortgage. After taking out a chattel mortgage, you get full ownership of the vehicle after paying the loan in full.
- Novated car lease: Under this finance arrangement, your employer pays the car lease and other running costs from your salary package.
- Secured vehicle loan: When taking out a secured car loan, you put the vehicle you are buying up as collateral, providing the lender with security if you default on your payment.
When buying a car from our warehouse at Westside Auto Wholesale, you can finance your new vehicle through our on-site finance managers instead of applying for loans at multiple lenders. Our financing process is straightforward and starts with a consultation to:
- Determine the monthly payments you can afford
- Review your credit score and history
- Assess your financial situation
After the consultation, we will contact reputable lenders, provide you with no-obligation quotes, and arrange your car loan. We take care of the entire process and have a high success rate in securing cost-effective financing, even if our customers have a low credit score or other financial issues.
The Benefits of Financing Your New Car Through Westside Auto Wholesale
Financing your vehicles with Westside Auto Wholesale holds plenty of benefits. We offer an extensive range of finance options, including business vehicle loans and salary packaging at competitive rates.
Learn more about the benefits of financing your new car through Westside Auto Wholesale below.
We Do All the Work
When applying for a loan with traditional lenders, you need to complete many forms, including a lengthy application. Doing all this paperwork can be overwhelming and time-intensive, as you might not have all the information these lenders require.
However, when financing your new car through our dealership, we will do all the legwork for you. Our on-site finance managers will provide you with a hassle-free application process and take care of the loan application and processing on your behalf. Your only work is to agree to the loan agreement terms.
Quick and Convenient Process
Car loan applications with banks or credit unions can have a processing time of a few days. Applicants with low credit scores sometimes have to wait a few weeks before getting car financing. If the lender denies your application, you need to start the process again with a different lender.
On the other hand, our finance team at Westside Auto Wholesale offers same-day approval. Our finance managers often secure car loans in less than an hour, allowing you to take immediate ownership of your new vehicle.
Collaborative Financing Solutions
At Westside Auto Wholesale, we work with you to find a financing offer that fits your financial situation. Our finance managers will gain insight into your financial position to determine your repayment ability, provide you with financial advice, and offer multiple finance options.
By matching you with a suitable loan offer, we make it easier for you to afford a new vehicle. Our collaborative approach ensures that you don’t run into financial difficulties over the long run.
Wide Range of Flexible Financing Options
Our team at Westside Auto Wholesale wants you to drive away with your new vehicle. Consequently, we offer a wide range of finance options, providing you with optimal flexibility in terms of repayment plans and your monthly loan amounts.
If you have fair to poor credit, you can also take advantage of our flexible finance options and other solutions that you might need. For example, after securing a loan, you might be eligible to make your repayments using a credit card and not your bank account.
Low-Interest Rates
As a used car dealership, we can secure loans on your behalf with relatively low finance interest rates and generous loan terms, which other financing sources are unlikely to obtain or provide. The lower rates can result in significant savings over the long haul.
Low Monthly Payments
When applying for car finance via Westside Auto Wholesale, you might be able to take advantage of relatively low monthly repayment amounts. The lower repayment frees up your resources to take care of your vehicle’s running costs and maintain its condition.
Your car finance option might involve a balloon payment to keep your monthly costs. In this case, you need to make a lump sum payment when the loan period ends. You can avoid this payment by selling your vehicle and buying a new one.
Personal Service
Many brokers and financiers are online-only companies, and you have to get all your information and file your finance applications online. Auto buyers often find dealing with finance managers online frustrating and time-intensive.
However, at Westside Auto Wholesale, we have an experienced team of on-site finance managers who are on standby to provide you with an in-person service in Perth. Our sales and finance teams are available 24/7, and they will answer any questions you might have.
If you want to apply online, you also have that option. Our request finance form will navigate you through a straightforward six-step process, ensuring that the application process is quick and easy.
Pre-Approval Option
With Westside Auto Wholesale, you can get pre-approval for a car loan, which allows you to manage your expectations about what repayment you can afford. You will also get a clear idea of the loan terms and the interest rate you will receive.
A pre-approval allows you to run the numbers and find out which price bracket you can shop. Focusing on cars falling within your price range simplifies the buying process. You can also look for a vehicle that offers the best value for money without worrying that your loan payments will stretch your finances too thin.
We Help You Avoid Car Financing Pitfalls
In some cases, car buyers accept loan offers that are not necessarily to their advantage. If you have poor credit or earn a low income, loan offers from traditional finance sources can include excessively high-interest rates, fees, or monthly payments.
By applying for financing via Westside Auto Wholesale, you can be confident that you are steering clear of pitfalls that can land you in financial hardship.
The sections below look at the most important things to watch out for before accepting a vehicle loan offer.
Unnecessary Fees
Lenders often charge you a fee to complete their application process. According to some lenders, their fees are refundable upon denial of your application, but you will likely need to jump through hoops to claim this refund. Generally speaking, paying this fee is unnecessary and will harm your financial health, especially if you depend on disability or tax benefits.
High-Interest Rates
If you have poor credit or various financial obligations, you will find that some lenders are willing to offer you auto financing but at unrealistically high interest rates. Applicants who believe they have no other options often accept these loan terms, worsening their credit score further. The balloon payments at the end of these loans’ repayment period are often impossible to pay.
At Westside Auto Wholesale, we always try to help everyone who applies for car financing through us. We will also go to great lengths to find affordable interest rates for you.
No-Interest Loans
Lenders often promote no-interest loans, which seem attractive options to cash-strapped buyers.
However, in these cases, lenders tend to increase the vehicle price to make up for the loss in interest income. When taking out one of these loans, you are likely to pay more over the long run for your vehicle than would have been the case with a conventional loan.
The financing options we offer at Westside Auto Wholesale will never alter the price of your car. Before accepting a no-interest loan, get in touch with one of our finance managers.
Guaranteed Loans
When shopping for car financing, you will encounter lenders offering guaranteed loans. However, in practice, these loans can be problematic. Even if the lender approved your application, you might have difficulty repaying the loan, as your application didn’t go through an evaluation process.
Reputable lenders will assess your credit history and financial situation to ensure that you can afford the loan.
Contact Westside Auto Wholesale Today
If you plan to buy a new vehicle, you don’t have to go through an extensive and time-intensive auto finance application process.
At Westside Auto Wholesale, we can provide you with hassle-free car financing options, even if you are a first-time buyer. With our financing solutions, you can take advantage of same-day approvals, personalised car finance packages, and exceptional customer service.
Call us today at (08) 6145 0099 to speak to one of our financing experts and find the best car finance option for your needs and budget.
