Affordable Finance and Loans for Prestige Cars
Owing and driving a luxury car is for most people a dream experience which Jade Car Loans may assist in becoming a reality. The luxury car market in Australia is vast with many options across multiple high quality manufacturers.
The major German manufacturers have a massive slice of the market with Audi, BMW and Mercedes-Benz. All 3 offer a large number of models with multiple variants within each range so buyers can ‘build’ their vehicle to suit their specific requirements. We’ve covered a few of these manufacturers in our articles, so have a read.
Jaguar and Range Rover are now no longer British-owned but still retain the classic British heritage which makes that classic, luxury statement. Also from the UK and at the top end of the luxury market is Rolls Royce and Bentley.
In the sports prestige market Porsche, Ferrari and Lamborghini are all-time favourites but many other manufacturers are presenting top of the range sports models in their collections.
Then you have the spin-offs of prestige brands from the more mid-range manufacturers. The Lexus from the Toyota stable and Genesis from the Hyundai badge are both considered luxury cars with price-tags and features in line with many others in the class.
The saying goes ‘if you have to ask the price you can’t afford it’. But in today’s reality, everyone knows the price range before they head into a dealership and starts talking price and most people are keen to purchase their new vehicle at the best price.
So what are the insider tips to buying a luxury car at the right price? How can you structure your finance to make your prestige purchase meet your monthly outgoings expectations?
Let’s talk motor vehicle finance with Jade Car Loans!
Prestige Car Finance Overview
The price tag on a luxury car means one thing. What is usually more significant to most buyers is what the vehicle is going to cost them in repayments on their car loan each month. That’s the clincher. That’s what makes any car affordable.
Paying a larger deposit to the dealer will reduce your overall loan amount and therefore reduce your monthly repayments. But with interest rates at very low levels, that may be counter-productive. It is a personal decision and may depend on what other use you can put that deposit money towards.
Having a good trade-in will also reduce the purchase price. Some buyers will choose to receive the cash for the trade-in from the dealer rather than have the value taken off the purchase price of the new vehicle. That is also a personal decision and should be discussed with the dealer who may or may not be agreeable. The amount a dealer will hand over in cash for a trade-in may vary from the discount on the purchase price they are prepared to give for the same trade-in.
Jade Car Loans provides a quick and easy way to estimate repayments on prestige cars – our Jade Car Loans Calculator. This resource is available right here on our website, is an online device so it can be used by any device which has internet connectivity.
You simply enter the loan amount which can be the total price of the car or the price less any deposit or value of your trade-in. Then enter the number of years/months you would like to repay the loan and our current low interest rates. The calculator then shows you an estimated monthly repayment based on those figures.
By varying the amounts you see how the repayments vary. Reduce the loan amount by paying a larger deposit and reduce repayments. Opt for a longer loan term to reduce repayments or vice versa.
This is only an estimate of repayments (please read our terms and conditions with the calculator) but it will give you a great starting point to structure your prestige car loan to meet your requirements.
Luxury Car Finance Options
Jade Car Loans offers a comprehensive range of finance products to suit both the private buyer and business purchaser.
Personal Secured Car Loan is the most popular form of loan for private buyers. The lender uses the vehicle as security against the loan and your Jade consultant negotiates you the best interest rate on your loan and the loan term that will deliver a monthly repayment that best suits your requirements.
While business car finance include a balloon amount, this is not available on personal car loans. To make luxury vehicles more affordable, your consultant can work to sourcing you a longer loan term to reduce the monthly repayments.
Business buyers have the choice of Chattel Mortgage, Leasing and Commercial Hire Purchase. All these finance types have differing benefits and features in regard to tax deductions, GST treatment and other accounting factors.
For many of our Jade Car Loans customers, including a significant balloon or residual in their business vehicle finance package is the key strategy to achieving affordability. Individual lenders may place requirements around maximum balloon amounts – your Jade consultant will discuss that with you. The important consideration to keep in mind is that you don’t want the balloon to exceed the value of the vehicle when it is due for payment.
Balloon and residual payments may be refinanced with a new loan when they are due for payment. However, if the amount exceeds the value of the vehicle, some lenders may be reticent to offer finance.
These are just some of the issues that your Jade Car Loans consultant will address with you and will work to tailoring your luxury vehicle finance package to suit your requirements.
To discuss finance on a luxury prestige vehicle speak with a Jade Car Loans consultant 1300 000 003
DISCLAIMER: THIS INFORMATION IS PROVIDED FOR GENERAL PURPOSES ONLY. ALL REFERENCES TO GOVERNMENT POLICIES, SCHEMES AND INITIATIVES IS SOURCED VIA OFFICIAL GOVERNMENT DOCUMENTS, MEDIA RELEASES AND WEBSITES. DETAILS ON VEHICLE SPECIFICATIONS ARE FEATURES ARE SOURCED FROM MANUFACTURERS’ WEBSITES. NO LIABILITY IS ACCEPTED FOR ERRORS IN THE REPRESENTATION OF THE INFORMATION AS SOURCED. ALL PERSONS ARE ADVISED TO CONSULT WITH THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE ON THEIR SPECIFIC CIRCUMSTANCES.