Nissan Finance Advice: Examining Different Car Financing Options

Buying a new car or even a pre-owned model can be an exhilarating and nerve wracking experience at the same time. Here at Perth City Nissan, we understand that a car is a major purchase and financing will usually be necessary. Nissan finance is available is a variety of different forms in order to give our customers a product that will suit their needs bests. Let’s take a closer look at some of the usual methods that are used to finance the purchase of a car.

A Car Loan

This could also be a personal loan, depending upon the lender and the best available rates. This is a simple financial product to understand, and many people have had a bank loan at some point in their lives. Depending upon your particular circumstances a load could be offered as secured or even unsecured.

A secured loan will be closely tied to the product that you’re buying, in this case, a car and if the payments are not made the bank can take the car in lieu of payment. A lender will often offer a lower interest rate for this type of loan, and they may be able to lend more if you have security.

An unsecured loan will require less paperwork, and it’s often much easier to get. This comes at a price, these types of loans will have a higher interest rate to cover the extra risk. The amounts available on these types of loans are usually lower, and this could affect your car buying choices.

Typically car loans can be obtained from banks or other financial institutions. A car loan can be obtained for a new vehicle and for cars up to seven years old in certain cases. It’s vital to consider the fees that could be payable up front and may need to be paid periodically after. There may even be a large balloon payment payable at the end of the loan and look out for early loan payment penalties for paying the car loan of faster.

Leasing and Other Financing Options

It may be a better idea to look at leasing or other types of loans to finance your car purchase. It’s important to understand the differences between a lease and a loan before you sign any agreement.

If you have a lease, a financial institution purchases the car and owns it on your behalf. You are effectively paying a monthly fee to use the car, and at the end of the lease, you will have an option to buy the car for a pre-agreed price.

If you have a car loan, you will borrow some money to purchase the car you want and then pay it back slowly over a fixed period of time.

If you’re looking to buy a new, demo or pre-owned Nissan car contact us here at Perth City Nissan. We have a vast selection of cars available to suit a wide variety of budgets, and we offer competitive financing through our

Daniel N is a writer across several reputed industrial web posts. He writes for many online journals and portals that are related to Nissan car dealers.