Nowadays, with so many vehicle-finance companies around, choosing an authentic car finance provider can be a tough ask. That’s why it should be ideal to follow this alternative approach before you choose a car finance broker in Melbourne that will save you money and ensure you own your car outright from day one.
Here are 3 important things you should look into before applying for a vehicle loan in Melbourne.
Authenticity of Your Car Finance Broker
According to the current Australian legislation, any car finance broker is needed to either be fully licenced, or a credit representative of an Australian Credit Licence holder. If you don’t find your Vehicle finance broker isn’t associated with either of these, you must opt for another one as they may not be trading legally. You can also check out their ABN no. by searching online.
Experience & Reputation
Experience is probably the most vital points while choosing the right vehicle loan provider. By doing some research, you should be able to get an idea of the level of experience the vehicle finance broker has.
An established business should have an about us page that covers who runs the business, what it does and for how long it has been doing. If you don’t find this kind of information, you can use free websites such as ASIC or the ABR to do business name or entity searches.
You can also judge their efficiency by reviewing their google business listing, Facebook page reviews, LinkedIn profile and so many other online profiles they might have.
Physical location is another important aspect in this case. A physical location eliminates the chances of the company being a fraudulent one.
Always check the location online through Google Maps, or other free programs and you can even do a Yellow Pages search to see if they are listed there with matching details.
Also, you can call to the phone number listed on their website and request if you can come and visit them in order to be sure of their location. These are just some measures that you can take to find out if they are Australian based.
So next time if you need to get vehicle finance in Melbourne, consider these loans beforehand.