What are the Benefits of Using a Car Finance Broker?

You’ve decided to buy a car, so your first step is to visit a car dealership…right? While it’s tempting to jump straight to the test-drive stage (who doesn’t love a test-drive!), the first step should always be getting your car finance sorted. And this is where having a car finance broker on the Gold Coast can suddenly be invaluable.

But what does a car finance broker actually do? What car finance options are available? And what are the benefits of using a car finance broker on the Gold Coast?  

What Does a Car Finance Broker on the Gold Coast Do? 

A broker is someone who acts as an intermediary between a buyer and a lender. A car finance broker helps a car buyer obtain the finance they need from a suitable lender. This is similar to how a mortgage broker assists a property buyer to apply for a home loan. The big difference is that it’s very common for people to contact a mortgage broker when they need a home loan, but for some reason, people are less likely to use a car loan finance broker for help with a car loan. 

What Are Your Options for Car Finance on the Gold Coast? 

If you’re planning to buy a car, then you’ve got a few different options available to you for obtaining car finance on the Gold Coast:

1. You could approach a car dealership directly and ask them to organize finance on your behalf. While this might seem like the simplest way to do things, a car dealership won’t necessarily help you find the best loan – they’ll just sign you up to a standard contract with their preferred lender.

2. You can go straight to your bank and apply for a personal loan to cover the cost car loan finance broker of the car purchase. But once again, this limits you to one particular lender, so you won’t necessarily be getting the best car finance option. 

3. You can contact an experienced car loan finance broker and ask them for help. Just like the first two options, this is a simple and straightforward process. But unlike the other options, you can trust a car finance broker to help you get the best possible finance solution to suit your needs. 

What are the Benefits of Using a Car Finance Broker on the Gold Coast? 

There are quite a few benefits to using a broker when you need car finance on the Gold Coast. By using the best car finance broker, you’ll give yourself: 

  • More choice: Don’t limit yourself to a specific lender. With a broker, you can choose from a wide range of different loan products from a panel of lenders. This gives you greater choice over the setup of the loan, the features, and what kind of interest rate you’ll have. 
  • More control: When you apply for a car loan through a lender, you are no longer just a name on an application form. Lenders are actively trying to gain the business of brokers, so with a broker, you have more flexibility and control.  
  • More bargaining power: With a pre-approved car loan, you can walk into a dealership and tell them exactly how much you have to spend. There’s no haggling over prices while they try to convince you to spend “just a little bit more.” The sales team knows what you can afford and will help you find a car to match your budget. 
  • More time: It is theoretically possible to trawl through all the various car loans currently available on the market and then compare them to see which represents the best deal for you. But this will take a lot of time. Time that let’s face it, most of us don’t have. By using a broker, you save yourself valuable time without having to compromise on the product. 
  • More information: A car finance broker will have a broad industry knowledge base and professional experience to draw on. Additionally, finance brokers will have an extensive database that allows them to catalogue and compare all of the loan products available. This gives you more information, so you can have confidence you’re making the right choice.  

To ensure you get the car loan that is best for you, contact the experienced team of car finance brokers at Professional Lending Solutions. We can answer your questions, compare car loan products and help you find the right solution. To find out more, visit our dedicated best car finance broker resource or try our free online car loan repayment calculator