Buying your first car is exciting stuff. There’s no doubt that you’ve got weekend road trips and late night snack runs in mind.
Getting a car loan is a big step, but with Loans Unlimited you don’t need to stress. Our streamlined and transparent approvals process will help you escape the gravity of a loan and push those dreams into orbit.
Here’s everything first-time buyers should know before signing on the dotted line.
If you’ve never had a credit card, phone contract or loan before, there’s no need to worry. It just means you’re building your credit record from scratch.
Many lenders offer low doc or first-time buyer car loans, though they may ask for extra proof of income or a guarantor.
At Loans Unlimited, we have access to lenders across the galaxy. These 40+ partners understand that we don’t all pop out of high school with a credit score and a full-time salary. They’re willing to offer fair and transparent loans to people with no prior borrowing history.
Even if your credit history is squeaky clean, lenders still want to know you can actually make the repayments. That means they’ll look at:
How long you’ve been in your job
Whether it’s full-time, part-time or casual
What you earn each week
Because we have so many partners, Loans Unlimited can match you to a lender who understands your work type, whether you’re casual, FIFO or on a probation period.
Some first-time buyers think they need $10k up front, but that isn’t true. Although a deposit isn’t always required, having something to put down will:
Lower your repayments
Improve your loan approval chances
Show lenders you’re serious
Even $1,000 can make a difference.
Your loan repayment might be $120 a week, but there’s plenty more you need to account for. Don’t forget to factor in:
Rego and licensing
Insurance
Fuel
Servicing and maintenance
Emergency repairs (yep, tyres pop at the worst times)
Some dealerships and lenders offer “zero deposit, drive away today” deals. Sounds amazing, right?
But:
Interest rates can be much higher
Loan terms are often locked in
You may pay more for the car than it’s worth
It’s important to know what you’re signing.
With access to over 40 lenders, Loans Unlimited can help you get a lightning speed approval without any hidden fees. That way, you will have pre-approval before you come to the table and will be able to negotiate with confidence.
With our crew, there are no silly questions.
We’re here to give you clear and honest advice that explains everything you need to know. No fine print, no tricks.
Getting your first car loan is a big deal and it doesn’t feel like a trap. We’ll help you find a loan that fits your lifestyle and helps you chart a course toward your financial goals.
If you’d like to speak with a member of our Perth crew about car loans or online auto finance, drop your details in our contact form
