Need Vehicle Finance? Take over your Car Payments Today
October 30, 2013 by admin
Vehicle finance is a necessity for motorists who want to purchase a car that they do not have cash funds to pay for. For those who want to drive a vehicle that is top of its range without having to spend a fortune, the option to take over car repayments is viable. You can save yourself quite a substantial amount of money if you choose to take over the payments on a vehicle that is a few months or even a few years old.
If you are looking into the reasons why this sort of financing option is considered viable then consider the following:
- Cut back on costs – this is of course one of the main reasons why people opt to take over vehicle instalments as you will be taking over the remaining balance on their contract and not the full amount of the vehicle cost. The loan that was originally taken out is refinanced and as a result you will be paying a lower monthly premium which is great if you are looking to free up some of your cash flow.
- Faster and simpler approval on loans – you might have a good rating and record when it comes to credit, but sometimes this does not mean that you can loan absolutely any amount that you like. There will be a limit to the loan amount that you are approved for and when taking over someone else’s payments you will only be requesting finance for the balance of their loan. This means that you can apply for a loan amount that is reduced.
- Complete peace of mind – vehicles that being paid off are still the property of the financial institution that funded the purchase. This generally means that the vehicle is being serviced, maintained and so on. Also any accidents it is involved in should be recorded and made available to you along with its full service history.
- No deposit – one of the perks to this type of loan is that there will often be no request for a deposit on the vehicle you are looking to buy. The deposit amount has already been paid by the current owner and you can expect to be able to pay your vehicle off in a shorter space of time.
- Free up some cash flow – if you want to ensure that you have enough cash flow each month then don’t take on a car or package that will exhaust your budget. Taking over the payments of another vehicle owner will mean that your repayments are less than you would pay if you were buying new.
It is our pleasure at Auto Refin to assist you with obtaining a new vehicle and the finance to make the process possible. All of our team members have experience when it comes to finances and as a result we are able to structure the best deals and packages and present them to you. We have a string of loyal and happy customers who are proof of our hard work, dedication and service excellence.
If you need this type of assistance then a few things are going to be required from your side. You will need to gather the following for us:
- A copy of your green bar-coded identity document.
- 3 months bank statements.
- Your latest pay slip.
- A letter from your insurance company stating that they have a package in place for you.
It is important that you realise that we are obliged to carry credit checks out on your name. If you aren’t sure what your credit rating is like, have a chat to one of our consultants who can advise you further. Our consultants are all willing and able to provide financial guidance to those who want a future that is financially secure and free.
At Auto Refin we are available to assist you with the vehicle finance avenue of your choice. While we recommend you take over car payments to save on costs, there are also a variety of other financial options for you to consider. Take the time to investigate your options with us and chat to one of our friendly consultants about your finance application, and what to expect without any further delay.