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Should you buy a New Car or a Used Car?

If you’re in the market to buy a car, you’ll need to decide whether to buy a new car or a used car. As with anything in life, there are pros and cons for both so here are some things to consider.

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Ferrari, Mercedes-Benz and Toyota on-board with Melbourne's 2015 Australian Motoring Festival

From March 26th to March 29th, Melbourne will host a premier interactive motoring event, the Australian Motoring Festival. The festival is taking place just two weeks after the Australian Grand Prix, so if you're already visiting Melbourne for the GP, you may wish to extend your stay!

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Finding a Car Finance Option that is Best for You

So you've made the decision to buy a new car and the next decision you need to make is what type of car finance is best for you. You've probably heard some car loan jargon being thrown around such as novated leases, finance leases, balloons, hire purchase and residuals but what do they all mean?

The most common car finance option taken these days is still the good old car loan, also known as hire purchase, personal loan or consumer loan. The term of car loans is usually between one and five years. Once the term is determined, the interest rate is calculated based on the risk and monthly repayments enable you to pay out the total amount by the end of the term.

Read more: Finding a Car Finance Option that is Best for You