Paying Too Much for Your Car Loan? A Gold Coast Guide to Refinancing

When was the last time you checked the interest rate on your car loan? If you're like many people who arranged finance directly through the car dealership for convenience, there's a very high chance you're paying more than you need to.

Refinancing your car loan is the simple process of switching your existing loan to a new lender who can offer you a better deal. It’s a quick and easy process that could lower your monthly repayments and save you thousands of dollars.

Why Refinance Your Car Loan? The Big Benefits

Reviewing your car loan isn't just about finding a new rate; it's about improving your household budget and achieving your financial goals. The key benefits include:

• Securing a Lower Interest Rate: Lenders are always competing for business. A lower rate is the fastest way to reduce the total interest you pay.
• Reducing Your Monthly Repayments: By finding a lower rate or adjusting the loan term, we can significantly reduce your regular repayment amount, freeing up cash for other important things.
• Consolidating Your Debts: If you have other small debts like a credit card, you can sometimes roll them into your new, lower-rate car loan to simplify your finances.
• Paying Off Your Loan Faster: You could switch to a lower rate but keep your repayments the same, meaning more of your money goes towards paying down the principal balance, getting you debt-free sooner.

Is Now a Good Time to Refinance?

It's a great time to review your car loan if:

• You secured your finance at a car dealership without comparing other options.
• Your credit score has improved since you first got the loan.
• Your current loan is more than a year or two old.
• You're finding your current repayments are putting a strain on your budget.

Our Simple Refinancing Process

We make the entire process fast and hassle-free.

1. A Quick Loan Review: Simply send us the details of your current car loan. It takes just a few minutes for us to assess.
2. We Hunt For a Better Deal: We instantly compare your loan against our huge panel of specialist car lenders to find a cheaper option.
3. Fast Application & Approval: We handle the simple application and push for a fast approval, often on the same day.
4. We Settle the Old Loan: We arrange for the new lender to pay out your old loan, and you simply start making your new, lower repayments.

A car loan shouldn't be a "set and forget" product. A quick, free review could unlock significant savings for your family.

‍