Fraud Alert – Please be vigilant when using ATMs as skimming devices have been detected across Metropolitan Brisbane. For more info on how to protect yourself click here.
Before you apply for a car loan, check your credit score. You can get a free copy of your credit report online. Credit scores reflect your borrowing and debt history and help banks decide if they should lend to you and at what interest rate.
If you’re credit rating isn’t great, don’t despair. Talk to QBANK about your credit history and the loan you want, and we can help you with a plan to clear your debts and establish a regular savings pattern.
Tip: It’s a myth that checking your credit report and score has a negative effect on your credit rating.
Having multiple loans can be a financial liability. It may be worthwhile consolidating your debts into a single loan to simplify your budget and access a lower interest rate.
Before you go anywhere near a car yard, do your research. Decide what kind of car you want, find out the market value for that model and decide how much you can spend. Use our car loan calculator to crunch the numbers and figure out your budget.
Knowing what you want and the repayments you can afford puts you in the best position to make a financially sound choice. You’ll be less likely to be talked into buying a car you can’t afford and have the freedom to enjoy your new purchase, not worry about covering repayments.
Tip: Try to pay off your previous car loan before buying a new car. Even if it means waiting 12 months or more, it’s better than paying off a car you no longer own as well as a new car loan.
Walking into a car yard with approved finance puts you in a powerful position to get the best deal, as well as making you less likely to overspend. Doing the prep beforehand also means you can act quickly if you find the perfect car.
Tip: Don’t be tempted to make a bunch of loan applications at once in your hurry to get approval and get the deal you want. This can have a negative impact on your credit history and your likelihood of getting a loan at a competitive interest rate.
There are several options for car loans:
Tip: Understand the terms of your loan – if you want to try to pay it off quickly, check you won’t be penalised for making early repayments.
It can be tempting to skimp on insurance, especially if you’ve just forked out for a car. But car insurance is a must, even before you drive it out of the car yard. Look for insurance that’s competitively priced, easy to arrange and simple to claim. The last thing you need if you have an accident or there’s damage to your car is a complicated claim process that leaves you stressed and waiting to get back on the road.
Sometimes things are best left to the experts. Forget endless visits to car yards on the weekends and haggling with dealers, our free car buying service uses our industry contacts to get you the best deal on a new or used car from a network of preferred dealers. You tell us what type of car you want, your budget and the features that are non-negotiable, and we’ll do the rest.
If you’re ready for a new car, we’re ready to help with a hassle free car loan and insurance to protect your investment. Talk to QBANK or call 13 77 28.
QBANK has recently been alerted to fraudulent activity. Queensland Police have today released a warning for members of the public as Automatic Teller Machine (ATM) card skimming devices have been detected on several ATMs across Metropolitan Brisbane.
As these devastating fires continue to engulf our nation, our thoughts are with our emergency services, those helping evacuate and assist on the frontline, and the communities & families that are suffering during this unprecedented disaster.
QBANK is looking forward to helping even more of our members get into the property market for the first time, after being selected as a panel lender under the Australian Government’s new First Home Loan Deposit Scheme (FHLDS).