What to Know Before Applying for a Car Loan in Perth

1. Know Your Budget (and Stick to It)

Before you even start looking at cars, work out how much you can afford to borrow and repay. A common mistake is focusing only on the price of the car, not the full cost of ownership (insurance, rego, servicing, etc.).

Use an online loan calculator to estimate your repayments and check that they fit comfortably within your budget.

2. Understand Loan Types

There are several car loan types, each with different pros and cons:

• Secured loans (most common): Your car acts as collateral, which usually means a lower interest rate.
• Unsecured loans: No asset backing, higher rates, but more flexibility.
• Dealer finance: Convenient but can include hidden costs, always compare with a broker.

At Hanna Lending, we explain each option clearly so you can choose what works best.

3. Consider Pre-Approval

Getting pre-approved helps you shop with confidence and shows sellers you’re serious. It also gives you a clear ceiling, so you don’t get talked into spending more than you planned.

4. Look Beyond Interest Rates

The lowest interest rate isn’t always the best deal. Always check:

• Loan term
• Monthly fees
• Early repayment penalties
• Total cost over the life of the loan

We help you compare apples with apples, so you can avoid sneaky fees and long-term costs.

5. Use a Local Broker Who Knows Perth

Lending conditions vary by state, and having someone local can make a big difference. We know the Perth car market, understand local regulations, and work with lenders who operate in WA.

Ready to Start the Process?

Hanna Lending Services offers obligation-free support and personalised finance advice. Whether you're buying from a dealer or private seller, we’ll guide you from start to finish.

Reach out for a free chat or try our car loan calculator to crunch the numbers today.

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