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What To Look For In A Car Finance Broker

//What To Look For In A Car Finance Broker

Deciding to get a car financed is the easy part. What’s challenging is deciding which of the many car finance brokers on the market you can entrust to assist you. Buying a car is a decision that shouldn’t be made lightly, and you need to find a car finance broker you can trust to help you. Here’s what to look for when choosing your broker.

  • Legalities

There are a few qualities all brokers must have under the law. Current legislation dictates that all brokers must be fully licensed or be a credit representative of an Australian Credit License holder, which means that they have professional indemnity insurance and are affiliated with third-party dispute resolution providers such as the Financial Ombudsman Services or Credit Ombudsman Services. It’s also strongly recommended that you search their ABN to see if they’re GST registered or not, as well as the ASIC or ABR to see if there’s proof they exist and operate as an entity.

An additional measure that we advise you to take is to look for their website and reviews. You will be able to see whether they really do provide good service for their clients.

  • Lenders

The broker who searches amongst the greatest number of lenders will be able to give you the widest variety of choices, which makes for a better overall deal. Don’t be afraid to ask them questions about what lenders they frequent and why. A good broker will recommend different lenders to different people, based on their ability to offer different benefits and the individual’s financial situation.

  • Don’t be pressured

Finding a broker who offers you a good deal and is easy to get along with is simple. What you should watch out for is a broker that tries to pressure you into deciding before you’re ready. Buying a car is a big financial investment, and an understanding broker will consider the importance of picking one you won’t regret or find too expensive at a later stage.

At Simply Finance, not only are we fully accredited, but we’re also invested in getting you the best car loan for your needs. Get in touch today to find out why our customers love us!

2018-12-06T06:30:32+00:00 November 23rd, 2018|Car Finance|Comments Off on What To Look For In A Car Finance Broker