natloans – Finance & Leasing

The first thing that comes to mind when buying a car is, “where am I going to get finance from?.” If you are planning on spending over $5,000 sure go ahead and contact your local financiers for more information. However, if you are looking at purchasing a product and don’t want to use a financier, your solution is waiting for you right in your wallet, your credit card.

Credit card rates use to have quite high interest rates, as the market is constantly competing against many companies the rates have now decreased making it more appealing to consumers. Before making the decision of a car loan OR using your credit card remember to:

• Shop around for the best interest rate, although some credit cards have low interest rates there are still high rates out there

• You will be paying a surcharge for every transaction made, when purchasing a car this surcharge can be up to 2.5%

• Purchasing your car on your credit card may affect your ability to pay your day-to-day expenses

• Don’t go over your limit, you don’t want to position yourself in a situation where you can’t cope in paying off your bills

• If your credit card gives you reward points in return this may be the purchase you’ve been waiting for, in order to win that trip overseas or a free television

There are many things you have to take into consideration before making your final decision, make sure you do all the appropriate research even it means speaking to a financier for an opinion. At the end of the day you want to make sure you have made the best decision for you.

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