Car Companies’ Financing Deals to Lure Customers Spur Commentary from Finance Funding Australia’s Owner

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Lower interest rates are fueling car sales. Finance Funding Australia, a company specialising in car loans, weighs in on the trend and gives a tip to consumers applying for car loans.

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“It’s not too hard to see why people are jumping at these offers. A car is a staple to many households, and with the interest rate as low as it’ll ever be, now is a great time to buy a new car,” said Milankovic.

Despite the fact that Australians are being cautious about spending, car manufacturers’ financing deals are too good for them to pass up. This has resulted in high growth in car sales.

Holden currently has a November financing deal that does not require any deposit, and offers a 0.5% interest rate on loan terms up to 36 months. According to the company, its customers have been asking for the 0.5% comparison rate since August of this year.

Renault will offer 0% interest on the Megane Hatch, Fluence, Koleos and Latitude models until December 16, 2012. Its offer will include capped servicing for three years.

The owner of Finance Funding Australia, a financing company that specialises in low cost car loans, weighs in on this phenomenon. “These deals are working. We are seeing people buying more cars despite the fact that they are still cautious about spending,” said Justine Milankovic.

According to the Australian Federal Chamber of Automotive Industries (VFACTS), higher demand for SUVs and commercial vehicles drove the growth of new vehicle sales in Australia in October by 12.2 per cent, compared to the same period last year.

“It’s not too hard to see why people are jumping at these offers. A car is a staple to many households, and with the interest rate as low as it’ll ever be, now is a great time to buy a new car,” said Milankovic.

October marks the third consecutive month of robust vehicle sales numbers, and offsets weaker retail sales in Australia.

For the 10 months leading up to October, vehicle sales grew 9.7 per cent, compared to the same period last year.

October’s SUVs sales increased by 26.2 per cent year-on-year, light commercial vehicles' sales rose by 19.7 per cent, and heavy truck sales jumped 15.1 per cent.

Despite the great offers, consumers still need to be careful when applying for car loans. “One thing consumers need to know is that they can potentially affect their credit score if they carelessly apply for car loans. Make sure you go with a loan provider who will help you with the application process so that you don’t turn in an unprepared loan application, get rejected, and lower your credit score as a result,” said Milankovic.

About Finance Funding Australia

Finance Funding Australia (FFA) was formed by a team of consultants with over 17 years of experience in the finance and automotive industry. Their consultants are known for providing superior customer service in all their past and current dealings. FFA handpicks their staff to ensure that customers get the service and respect they deserve, regardless of their credit history.

Finance Funding Australia works by assessing the customer’s profile first and advising them on the best approach. If the customer is interested in moving forward, FFA performs a credit check before submitting an application. This helps the customer avoid being penalized by other creditors. They can also help customers establish their credit history.

Get a low cost car loan at http://financefunding.com.au/.

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Justine Milankovic
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