financing your car seems too good to be true

financing your car seems too good to be true.

step 1: talk to a friendly team who provide you a loan with super low interest rates.

step 2: you’re able to afford your dream car straight away.

step 3: you steadily pay back the finance as you go.

it’s magical, isn’t it? while this scenario happens a lot with good car finance companies, like fingo, you should have an understanding of the way car finance works before you make a move. let’s take a look at some of the factors you should consider before you finance your car.

interest rate

the first thing you should consider before you finance your car is the interest rate.

interest rates will differ from lender to lender, so it’s important you choose a great car finance team who offer generous interest rates. the rates may seem small, even if there’s a difference between them.

for example, a 10% interest rate may not seem that much bigger than a 5% interest rate, but it means you’ll pay double the interest. not double the repayments, because you’re not borrowing double the principal amount.

fees and charges

another factor is the fees and charges. these added costs could include establishment fees, discharge fees and late repayment fees. again, this comes down to choosing a car finance team with integrity, who openly lay out all their fees and charges and don’t mess around with those cheeky hidden costs.


before financing your car, work out how much you can afford with our monthly repayments calculator. it’ll let you choose the vehicle you have in mind, or enter the vehicle value, interest rate, loan term and deposit. this will give you an estimate on how much your monthly repayments will be.

credit score

your credit score is another important factor to consider before getting car finance. your lender will check your credit score before working out an appropriate car finance plan for you. high scores could get you a cheaper interest rate, whereas low scores may result in rejection.

loan term

how long do you want to take to pay off your dream ride? the longer you take, the more it will cost to pay off the car, as you’ll have extra interest to pay for.

that being said, sometimes it’s worth to go slow and steady and to be comfortable with a monthly repayment plan that suits your needs.

streamline the process with fingo’s car finance

if you keep these factors in mind when choosing car finance, you’ll be on the high road to success! the last factor to consider is which car finance company you choose. this is where fingo enters the picture.

we are dedicated to providing great car finance to all australians, with already 20,000 stoked customers under our belts. give our experts a call on 1300 134 646 and we’ll help you out with getting the best interest rates over the best loan terms for you.

calculate your car finance repayments

  • Choose your vehicle or enter the loan amount
  • Your Information

Choose your vehicle (optional)

Optional, ranging from 0 - 45% of the loan amount
$ 45% of the total loan amount
If unsure, the average is 5%
% p.a.
If unsure, the average is 3 years
Your repayments
$0 / week
over years*

*Terms & Conditions Apply: Our calculator will only give you an estimate of the benefits of our car finance product.

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