Car Loan Comparison Rate

Not all car loans are created equal. Good ‘window dressing’ by lenders can mask the true annual cost of a car loan. That’s why loan comparison rates are key to weighing up different borrowing options. So you can understand the actual as opposed to advertised cost of your proposed car loan. Even so, many borrowers do not fully understand comparison rate function and limitations. That’s why savvy borrowers trust Natloans for specialist car loan comparison rate support.

Our skilled brokers help you accurately interpret comparison rates. While making you wise to additional considerations like loan flexibility and features. So you can claim a genuinely individualised car loan. Optimised for cost efficiency and financial freedom.

What is a car loan comparison rate?
Car loans and lenders are in abundance. So car loan comparison rates offer a benchmark against which to balance the true cost of different solutions. Essentially the car loan comparison rate is based on the average annual percentage rate (AAPR). In other words, it expresses all interest and loan fees in a single rate. So you can see your annual car loan cost at a glance.

Calculate relevant car loan comparison rates with these factors:

• Amount borrowed
• Frequency of repayments
• Interest rate
• Loan term
• Known loan fees and charges

Use car comparison rates with care
Knowing the true cost of your car loan can help you choose from the wide pool of lending options. Yet car loan comparison rates are not a silver bullet. So you cannot afford to oversimplify your loan selection according to rate alone.

Car loan comparison rates exclude:

• Early repayment fees
• Government charges
• Car insurance costs
• Other salient loan features like redraws
• Individual loan amounts and terms

Car loans vary greatly in borrower benefits like repayment and purchase flexibility, even portability. All of which can be important to your individual situation. So it’s important to place comparison rates in the context of overall loan solution.

Specialist comparison rate support
Take a balanced scorecard approach with car loan comparison rates. Award winning vehicle finance brokers Natloans help you consider all relevant factors. So you enjoy a truly customised car loan solution that matches your circumstances, needs and lifestyle. Speak to us today.