Buy your car using a finance product instead of your own money. We can help you get different financing options that allow you to purchase your car in a financially convenient manner. Getting a car is a significant and costly investment that most people can’t afford unless they use a car loan or any other finance options. There is a diversity of these Finance products in the market, and sometimes, it is difficult to find the most suitable deal for you. All American Autotech help you in getting the financing you need without any hassle.
Buying your car with a finance product has its advantages such as the fact that you can get a car even when you don’t have the money. But some finance products also have disadvantages. For instance, using a car loan will end up costing you more than you will typically pay for the car if it is outright purchase and since the car depreciates with time, it may not be worth the price you paid for it. This makes loans an unsuitable finance product if you are someone that changes car regularly. At All American Autotech, we discuss all these options with you and make sure the finance product you use is one that suits your taste.
Factors to Consider before seeking finance
Before you decide to use financing to get your car of choice, there are several factors that you must consider, and when you let us handle your financing for you, we ensure that you are aware of all these things before we get started. These include:
- Repayments: We look at the monthly repayment to ensure that it is something that you can pay without any inconveniences. A monthly repayment that is higher than the client can afford will defeat the whole purpose of financing which is to ensure that the customer gets what he needs, when he needs it, without any financial burden.
- Interest rates and charges: We also consider the interest rate on the finance product if it is a loan and the other charges or fees. Where the interest rate is not favourable, or it is too high, we advise our customer against such loan because it would be a poor financial decision with consequences.
- Upfront Payment: Where the lender requires a deposit which is usually the case when you are getting a hire purchase finance option. We consider the size of the deposit in comparison to the overall value of the loan. A high deposit may mean you have to pay less in repayments, but where it is too high, it is unfavourable.
- Credit Score: While a low credit score will not automatically disqualify you from getting financing, it might affect the quality of financing you get. This is why we encourage our clients to have a good credit score as this will put us in a position of strength during negotiations and allow us to get the best finance deal possible.
Why you should let us handle your financing
- World-class consultancy: Our team includes financial experts who will guide you through the financing process. The process starts with the application but even before that, our team discuss your financial position, your preferences, and available finance products with you so that there is a complete understanding of what you are getting into. By knowing your preferences, we can recommend the best finance product for you. For instance, if you are someone who likes using the latest cars, using a lease or contract hire instead of a car loan gives you the freedom you need, and you always upgrade to the latest cars without hurting your finances.
- Comprehensive Network of Lenders: If you are looking to have access to a vast network of lenders who offer a different form of financing, then you should let All American Autotech handle your financing for you. We partner with different lenders who have an interest in the car industry. So when the time comes for you to get financing, you have access to many lenders who will receive your application and offer you their best deal. There is nothing like being boxed into a tight corner when it comes to negotiation; if a lender is not offering a favourable deal, there would be another who will offer a better deal.
- Favourable Finance Terms: loan interest rate, low monthly repayment, payment spread over months and up to five years, ability to restructure the loan, etc. These are the benefits you get when you let us handle your financing. Our lenders are reasonable and flexible when it comes to loan terms, and they are strict when it comes to eligibility for loans either.
You can contact us today to make further enquiries about financing and get started.