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What’s the fastest way to get a car loan?

In many aspects of life this is a world that doesn’t want to wait. An on-demand society with convenience and time-saving top priorities to achieve better work-life balance for the time-poor. When it comes to car buyers there are those that are happy to take their time, investigate every aspect and every option before arriving at decision. Then there are those that know exactly what car they want, they use convenient online tools to find it, do a deal and then just want to sort a business car finance so they can get behind the wheel of their new vehicle asap.

If you’re reading this article, we can probably safely presume you’re one of those that are in a hurry. So we’ll get on with our explainer on fast car loans and how Jade Car Loans can assist you.

Consumer Laws: Not Negotiable!

For private car buyers – those buying a car for private use and seeking consumer finance – there are strict consumer laws which need to be adhered to by all providers of consumer finance. These laws are governed by ASIC and set out in specific detail the processes that must followed by credit providers when offering quotes and arranging offers for consumer car loans. We’ve covered all this in another blog and refer you to our articles library for more detail.

So no matter how fast you want to proceed and no matter how quickly the lender, including your Jade Car Loans consultant can act, there are still steps which must be carried out before you can actually sign up for a loan contract.

Which car loan provider is faster?

There are a number of sources available for consumer car loans and some avenues may appear to offer a faster service – but at what cost? Getting your loan quickly only to find out that you’re paying more than you could have is a key aspect to think about. Impulsiveness could end up being irresponsibility and cost you over the term of your loan.

  • If you are going to seek a number of quotes to compare, doing that yourself is definitely going to take some time – how long will depend on who you contact.
  • Be aware that a ‘quick quote’ over the phone or sourced through an online device may not represent a firm quote or an offer of a loan. The loan you end up being offered may differ.
  • To get a firm quote, some providers may require you to go through a comprehensive loan application process. How long that takes will differ from lender to lender. Remember, every time you apply for a loan it is recorded on your credit history.

Let’s consider your options:-

  • Bank Car Loans: contacting any bank can sometimes be time-consuming as you may have to wait on-hold or wait for a call back. Some banks have diverted staff to deal with COVID-19 issues which may lead to longer wait times for some services. Large organisations by their very nature may tend to have longer processing times for loans.
  • Finance Companies: also usually very large organisations and the time to provide firm quotes and process applications will vary.
  • Dealer Finance: this has the image of being convenient and to some people, fast. You’re at the dealership or car yard, the sales person can sign you up for finance on the spot – what’s not to like? The possibility of inflated fees, charges and commissions and possible promotional offers like 0% interest rates that’s what. We strongly advise that every dealer finance offer be studied in great detail and compared with one that Jade Car Loans offers.
  • Broker – Jade Car Loans: one of the greatest benefits of using the services of a car finance broker is our ability to act quickly facilitated by our direct access through industry channels at the banks and other lenders and the smaller size of our structure which allows for more streamlined service. Your Jade consultant can consider offers from the multiple banks and lenders we are accredited with, quickly and efficiently. Saving you a lot of time in shopping around for loan offers yourself.

Speeding up the Process

There are a number of steps you can do to speed up the car loan process:

  • All major banks, finance companies, finance brokers like Jade Car Loans, dealers and car manufacturers and other car loan providers advertise their car loan offers on their websites. Browse around and always look at the Comparison Interest Rate when comparing what’s available. For info on Comparison Interest Rates, head to our web page.
  • Have your paperwork ready. All consumer loan applications have minimum requirements – you will need payslips and other financial details and spending so get them organised ahead of time.
  • Know what you can afford in repayments. Do your weekly/monthly budget and have a good idea of what you can realistically afford in monthly repayments so you can make quick decisions when you receive offers.

Taking the Fast Track with Jade Car Loans

Jade Car Loans provides a combination of self-serve resources and broker services to fast track your car loan process.

  • Online car loan calculator: head to our calculator webpage to compare possible monthly repayments on cars you are considering. This function only provides a rough ballpark estimate but its quick, easy to operate and when used correctly can at least speed up your car buying decisions.
  • Quick Quotes: when we say quick, at Jade we mean it. Complete our online form or just give us a call. We are accredited with many banks and lenders so we can quickly source you the best offer from many providers.
  • Personalised Service: when using Jade as your broker, you will be assigned your own consultant so you have one single contact point for quick updates on the progress of your loan. While we provide loan services across Australia, we operate on a smaller scale than the major banks which allows us to provide a highly efficient level of service.
  • Fast approvals and prompt settlement are integral to our services. We don’t hold up or delay your loan application through our internal procedures.

Jade Car Loans offers a service to suit both the car buyer that wants to take their time to consider all their options and for those that want prompt, fast action.

To discuss a fast-tracked car loan, speak with a Jade Car Loans consultant 1300 000 003

DISCLAIMER: THE INFORMATION PROVIDED IS FOR GENERAL CONSIDERATION. ANY REFERENCE TO OFFICIAL GOVERNMENT POLICIES HAS BEEN SOURCED FROM AUSTRALIAN GOVERNMENT AND STATE GOVERNMENT SOURCES. INFORMATION ON INDIVIDUAL VEHICLE SPECS IS SOURCED FROM THE MANUFACTURER WEBSITE. NO LIABILITY IS ACCEPTED FOR ANY ERRORS IN PRESENTATION OR INTERPRETATION OF THE FACTS AS PROVIDED BY THESE SOURCES. WE ADVISE ALL INDIVIDUALS AND BUSINESSES TO REFER TO THEIR ACCOUNTANT OR FINANCIAL ADVISOR FOR PROFESSIONAL ADVICE SPECIFIC TO THEIR INDIVIDUAL CIRCUMSTANCES.

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