Best Way to Pay for a Car in Australia?

[JKay]

In the UK I always preferred getting a personal loan and paying the car off that way as opposed to finance only having to return the car after the term or pay a baloon.

Is that common in Aus or do people normally go down the finance route. Are interest rates good for personal loans?

Thank in advance

[suthol]

JKay said:

In the UK I always preferred getting a personal loan and paying the car off that way as opposed to finance only having to return the car after the term or pay a baloon.

Is that common in Aus or do people normally go down the finance route. Are interest rates good for personal loans?

Thank in advance

I suspect that quite a few go the PL route as opposed to the novated lease, really depends on how much you earn and how many pre tax dollars you can get rid of.

[JKay]

Thanks, will have a look at PL rates and my eligibility when I get there

[custardtart]

Been looking into the novated lease route and it's definitely more cost effective for me but the lease rates aren't published by the finance companies here unlike in the UK so you have to ask and typically theyre very high compared to the UK. If anyone can find one under 10% let me know!