Hidden Facts About Availing Car Finance

Automotive | No comments

Today when you wish to buy a car, you just go with the same and never bother about your credit rating. There was a time when getting car finance was not an easy task. But, now the tables have turned and you can get car finance in Brisbane without much difficulty. In fact, the car finance firm will find ways in which you can be accommodated to secure the loan. Some of the car loan firms offer loans even for those who are bankrupt or have bad credit rating or declined loans earlier. However, in Australia, the car loans are covered under the Australia’s Credit laws. The law requires that the car loan provider should possess a license and should also be a member of the External Dispute Resolution (EDR) scheme.

car finance in brisbane

Duties and Responsibilities

Basically, according to the law pertaining to car finance in Brisbane, duty is cast upon the loan provider to act in a responsible manner while providing the loan facility to the prospective buyer of the car. The car provider should follow the approved lending pattern according to the provisions of the Australian Credit laws. This law prescribes exclusive rights and also responsibilities both for the lender and the borrower of the loan.

Rights and Responsibilities of the Borrower

Further, according to the law prevailing in Australia, every consumer loan including car finance in Brisbane is regulated by the Australian Securities and Investments Commission (ASIC). This is the federal agency for dealing with all matters relating to consumer loans. In fact, the law specifically requires that the borrower of the loan should be fully aware of his rights and duties before availing the loan in question.

In Coordination with the Dealer

In the normal course, the car loan firms work in close coordination with the authorized dealers of the car. In fact, normally one of the representatives of the car finance company will be stationed in the showroom of the authorized car dealer. This is because when prospective buyer shortlists a car, the dealer would introduce the buyer to the car finance firm. Naturally, this helps the buyer to obtain the loan at the earliest possible time and buy Citroen c3 or any other car of his choice.

Understand the Terms and Conditions

In fact, you would find Citroen car specials with easy and hassle free car finance as one of the unique offers provided by most authorized car dealers. But, before availing such services you should carefully go through the terms and conditions of the car finance firm. You should also carefully analyze the repayment pattern and ensure there are no hidden costs.

Loan for Buying Used Cars

The car finance can be availed even for buying used Citroen cars or any other brands of cars. In such cases, the car finance company will require valuation of the car being made by the authorized technical evaluators. Whether you are buying a new or old car, by and large, the procedure for availing the loan and the rights and responsibilities of the lender and the buyer remains almost the same.

Summary

Considering the issues involved in availing car loans, the ideal remedy would be to go through the websites of the reputed car dealers like the http://www.brisbanecitycitroen.com.au. Such dealers will introduce you to reputed car finance firms so that you can get a car loan at a favorable rate of interest and without any hidden cost.

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