Brokers vs Banks

What do you do when you want to find something out these days?  You Google it right?

What’s the first thing that pops into your mind when you need a car loan?  For a lot of people it used to be which bank do I go to?

Times have definitely changed.

With the endless amount of information on the internet it is now much easier to find the best deal on just about everything.   You can now find an experienced finance broker that specialises in not only car loans but also, bike loans, boat loans, jet ski loans, caravan loans, camper loans, truck loans….well you get the picture, pretty much any loan. A good experienced finance broker can deal directly with the big banks on your behalf and can have access wholesale rates that the banks simply can’t pass on to their customers directly because of their high overheads. An experienced finance broker can save you time filling out paperwork and the good news is that you can do this all from the comfort of your own lounge room. How good is that?

Who do you have in your corner?

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When making what can be the second biggest purchase decision that you will make in your life, it’s smart to consider the long term savings that each percentage point off your loan rate can amount to over the life of the loan; this is why you need an experienced finance broker in your corner.

Who doesn’t like choice?

By discussing your car loan with an experienced finance broker, you are giving yourself access to a wide range of products across a large list of banks and non-bank lenders. It is like going to a take away store and being able to order from the McDonalds, Red Rooster, Hungry Jacks and KFC menu all at once. Now that’s pretty cool!

On the flip side, banks are where we have been trained to keep our money, where we deposit, withdraw and access our own money. But is it safe to keep all our monetary eggs in one basket and only ever trust our bank to give us the best deal on our car loan?

A common misconception is that brokers are actually the people lending the money. This is not the case. Finance brokers create the link between the customer and the lenders. Experienced finance brokers provide advice on products and have experience in finding the best overall car loan to fit the customer’s needs. It’s highly unlikely that you will ever pay more for an experienced finance broker to source your car loan through a bank rather than going directly to the bank yourself for the exact same product.

Why is that?

As experienced finance brokers we are going to our panel of lenders all day every day coordinating millions of dollars to be lent to our clients. This gives us awesome negotiating power! The average person may go to their bank once every three years and ask for a loan for $30,000. Who is going to get the better deal in this scenario? Of course it is us, the people helping the lenders write millions of dollars of car loans. The good news for you is that we at Ask 4 Finance use this negotiating power to help our clients save money.

It is a win win situation for the banks and the experienced finance brokers. Our lenders love our experienced loan consultants because they bring in business, they have a wide range of knowledgeable and they can process applications quickly and thoroughly. On top of this, for the banks, it is like having experienced employees that they don’t need to provide offices for and are experienced enough to do all of the work for them.  And to be honest, we experienced finance brokers love our lenders because they take on the risk of the car loan for us.

Some of the other benefits of an Ask 4 Finance car loan are;

  1. You can apply online in 3 easy steps.
  2. One of our experienced car loan consultants will help you through every step of the way.
  3. After speaking with you more about your scenario, our experienced car loan consultant will find the best loan product for you and not just sign you up to a one style suits all car loan.

If you really want to get the best deal on your car loan, complete our no obligation online application now, it will only take you a few short minutes and you will be on your way to having an experienced finance broker from Ask 4 Finance tailor a finance solution that will best suit your needs.



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