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How does dealer finance work?

CarExpert

And does it make sense to pay cash or take a finance deal? Any car finance deal involves taking out a loan with a lender to cover the purchase price of the car, and agreeing to pay it back in instalments, plus interest, over a set period. There are several financial decisions involved in purchasing a new car. Can you afford one?

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Should you pay cash or finance your new car?

CarExpert

After picking out your dream machine, the aim of the game turns to negotiating a deal that suits you both now and in the long term. You might choose to put a deposit against the car, or if it’s purchased by a business, a better option might be to select a balloon payment at the end of the loan to reduce ongoing payments.

Finance 97
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Buying a car this weekend, check out these offers

Drive.com

Some car brands are extending their EOFY deals until 31 July, so this weekend is the last chance to grab a discount. Toyota Toyota is offering a $1500 “contribution” – which it calls a deposit bonus – to HiLux 4×2 and 4×4 customers who finance their new or demonstrator models with Toyota.

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2024 Skoda Kamiq Run-Out review

Drive.com

Skoda is keen to highlight sharp finance deals available through the company’s in-house Skoda Choice division, which includes a guaranteed future value (GFV) program that locks in, at the start of the lease, the vehicle’s minimum value at its conclusion. Unless the customer purchases a service pack, the Kamiq is expensive to maintain.

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Is buying an electric car on a novated lease worth it?

Drive.com

Either way, your employer needs to be on board, as they need to make the payments to the finance company that arranges the lease. Some employers don’t allow novated leases and some only deal with a specific list of leasing companies. Other employers give you the freedom to shop around for a good novated lease deal.

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