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Finding the right car - Greater Bank

Finding the right car

When it comes to choosing the right set of wheels, we’ve put together the dos and don’ts to help you make the most informed decision possible.

Finding the right car - Greater Bank

Budget

The first step is boring. Just calm those visions of burning rubber down the freeway for a moment, and ask yourself – how much are you willing to spend on your car? This will depend a lot on your reason for buying. For example:

  • If you’re an enthusiast, who wants all the mod cons, your budget could be higher.
  • If you need a people mover to transport the family, your budget will be dictated by the size of car you’ll need.
  • But if you’re just looking to get from A to B, with nothing special, you could be prepared to pay less.

A ballpark figure is fine, and be prepared to give yourself some lee-way –say, 2-5 grand wiggle room up or down. If you’re looking to finance your car, be sure you’re in a position to service a car loan of this size. Find out using our Personal Loan Repayments Calculator.

Know your repayments

Calculate your minimum monthly repayments on a Greater Bank Personal Loan.

Personal Loan Repayment Calculator

Research

Once you have your budget in mind, it’s best to take a good look into whether a new or used car is going to be your best option.

There are pros and cons for both, so don’t be rushed into a decision!

New Cars
  • When shopping for a new car, you should focus on things such as market price, features, discounts, rate of depreciation, and running costs like fuel and servicing. This will make sure you can get the most bang for your buck, and may help when it comes time to negotiate on price.
  • Don’t be afraid to shop around for the best deal, and ask for the cash price, which could result in significant savings
  • Understand optional extras before you go nuts kitting out your new car. Make sure they are likely to add value to the car if/when it comes time to sell it.
  • Look for the drive-away price. Often, things such as stamp duty, rego and CTP are on top of the purchase price.
Used Cars
  • Use the tools at hand – visit car comparison websites to see what you can get for your budget.
  • When comparing prices, look out for features, added extras, KM’s on the clock, and any potential problems down the track.
  • Make sure the car you choose matches the ad, and take it for a test drive to have a mechanic or auto-savvy mate give it a once-over. This way, you’ll be much more likely to spot a lemon without having to experience the sour taste!
  • Look into the car’s history with a PPSR check, to make sure there is no outstanding debt on the car, or that is hasn’t had significant structural repairs in the past.

Payment

No matter how you plan to pay for your car, it will make the purchase process smoother if you have your method of payment sorted out before it comes time to shake hands with a seller.

Finance

If you’re after finance for your vehicle, it’s important to go with a loan that gives you the best deal on interest rate, while making the repayment process quick and flexible. A Greater Bank Car Loan has a competitive rate, with no monthly or annual fee, with no penalty if you’re able to pay out your loan early. What’s more, loans can be approved in as little as 24 hours (Subject to meeting Greater Bank lending criteria and the provision of documentary proof.)

Check out our New Car Loan

Savings

If you’re looking to pay for your car with cash, make sure you’re able to reach your savings goal as soon as possible by opening a high-interest savings account, like the Greater Bank Bonus Saver. Put your money to work!

Compare Savings Accounts

Cover

There’s no better feeling than getting behind the wheel of your new car. The last thing you want is to run into trouble before you’ve even had a chance to put your foot down properly.

Before you drive your shiny new wheels away, make sure you’ve got the right cover to suit your needs. Greater Bank can help arrange cover that’s suited to you, through one of Australia’s biggest and most trusted insurers, Allianz.

Get a quote Motor Insurance

Compare our Personal Loans

Compare 3 products
Secured Personal Loan
Our fixed rate personal loans let you stay in control with fixed repayments for the life of the loan. Great for purchasing used cars, renovating a buying that new caravan or boat for a holiday.
New Car Loan
Don’t wait to get behind the wheel – our fixed rate new car loan offers great value rates, low fees and can be approved in as little as 24 hours*.
Unsecured Personal Loan
Need access to funds but don’t have security to offer? We’ve got you. We can lend up to $50,000 for any worthwhile personal purpose.
Interest rate 5.99 % p.a.
Comparison rate 6.37 %^ p.a.
Secured - Fixed rates for 1-7 years
Interest Rate 4.98 % p.a.
Comparison rate 5.36 %^ p.a.
Secured - Fixed rates for 1-7 years
Interest rate 8.95 % p.a.
Comparison rate 9.34 %^ p.a.
Unsecured - Fixed rates for 1-5 years
Key Features
We lend up to 120% of the value of car, caravan, boat, motorbike, term investment.
Competitive fixed interest rate which lets you stay in control with repayments.
Get pre-approved so you can shop with confidence or start planning your project.
Key Features
We lend up to 120% of the value of your new car.
Competitive fixed interest rate which lets you stay in control with repayments.
No monthly or annual fees.
Get approved in advance so you can shop for cars with confidence.
Key Features
Available for any worthwhile personal purchase. This could be a car, boat, holiday, renovation project or consolidating your debt obligations.
When borrowing, you don’t have to offer collateral as security for the loan. This means you pay a slightly higher interest rate than our Secured Personal Loan.
Maximum loan term
7 years
Maximum Loan Amount
$100,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Maximum Loan Term
7 years
Maximum loan amount
$100,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Maximum loan term
5 years
Maximum loan amount
$50,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Apply now Secured Personal Loan Apply now New Car Loan Apply now Unsecured Personal Loan

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