Financing a car can mean that you get the wheels you love, without having to wait. But if your loan is improperly tended to then it can grow like a weed, with tendrils heading straight for your wallet. Biziloans are committed to your responsible finances, and we certainly don’t want Perth to look the a Jumanji remake, with snaking vines of high interest rates up and down the Kwinana Freeway. Read on for our tips on managing your repayments, to keep you moving and doing the things you love.

Check Your Credit Score:

You may be adversely affecting your interest rates if your credit score is too low, so make sure you are aware of your score before applying for any loans. If it is low, take steps to increase it and try to hold off the loan until then. Since March 2014, Australia has started marking up positive as well as negative credit information, so a little research into how to boost your credit score could go a long way.

Refinance Away

Have you considered refinancing your car? This will reduce the amount of interest you’re paying, and lower your monthly repayments too. It’s an option for if your in an unstable financial bind, with a few looming debts. A refinance loan is when you take out a second loan to pay off the first, if there is a better deal available. If you can qualify for a loan with better terms, such as a low interest rate, then there’s no reason not to. Your initial loan dictates how much money you borrow, and when and how to pay it back. If you’re able to pay it off early then the interest is no longer expected of you, as your lender didn’t have to wait. Your lender doesn’t mind if you found gold in your backyard, inherited a windfall, or took out a separate loan. They’ve got their dues and they’re happy, and you have a more manageable loan instead.

Save For The Small Stuff

If you’re eyeing up a car that you think can do the trick for less than $5000, and it’s not an urgent purchase, then you’re substantially better off saving the money yourself. Smaller loans tend to mean high interest rates, as the smaller loans are usually quicker to pay off –therefore limiting how much time they have to charge interest. Smaller loans could actually cost you more overall in interest rates, but without you getting any where near as much bang for your buck.


With handy little tips and tricks like these, your car finance doesn’t need to hang over your head and hold you back. Here at Biziloans, we understand that life is full of little circumstances that can sometimes get in your way -which is why our loans have a quick and easy application process, and efficient approval rates. If you’re looking at financing a car, or any other type of loan, why not call us and see if we can help?