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4 Benefits of Financing Your Skoda Purchase

Are you thinking about buying a new car in Sydney? You might want to think about talking to your dealership about financing and Skoda finance rates. Here are some benefits to getting financing from your Skoda car dealership.

Skoda Finance Rates in Sydney: 4 Benefits of Financing Your Skoda Purchase

1. Afford a Fancier Car

It might seem like a better option to pay for the entirety of your vehicle in cash. But when you do this, you might have to make some sacrifices. You may have to purchase a lesser quality vehicle or a lower trim level than you wish you could. But when you opt for financing, you'll get a lot more flexibility in your purchase. Instead of having to settle for that cheaper car, you can afford something a little more luxurious or fancier that you'll enjoy driving much more!

2. Budget Better

When you get financing, you won't need to take a huge portion (or possibly all) of your savings to pay for your car. This is going to benefit you for a few reasons. For one thing, you'll be able to keep on growing your savings account for emergencies or other large purchases in the future. You'll also be able to budget your upcoming payments better. You'll know what amount you are going to owe for your upcoming payments, which means you'll be prepared for when that money comes out of your account. This makes budgeting for other important things like food and bills much easier.

3. Build Up Your Credit Score

Having a high credit score is beneficial for a variety of reasons. Your credit score affects your ability to get things like mortgages and loans. If you have a low score, it can make it more difficult for you to rent apartments or even find a good job in some cases. That's why making sure you have a good score is so important. If your score is low, or even if you're just looking for an effective way to bring it even higher than it is, getting car financing can help.

4. No Collateral Necessary 

When getting a loan for certain purchases, you may be required to put down collateral. This might not be something that you feel comfortable with, and for good reason. There's a certain level of risk that comes with putting down collateral for a big purchase, even if you're confident you can make the necessary payments on time.

But there's no additional collateral necessary when you finance a car. The vehicle itself acts as collateral. So, if you make a few payments late or miss some, you won't run the risk of losing your car as well as something like your home. That said, you should still avoid making late payments or missing them, as this can affect your credit score.

If you want to set yourself up for financial success and get a great quality car that you're going to love, financing can help. Talk to your local dealership today about what financing options they can offer you.

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What's Included in the Skoda Extended Warranty?

While all Skodas in Sydney are given a 5-year unlimited kilometre warranty upon purchase, there may come a time when you want to extend your warranty coverage. Extending your warranty can be a good idea if you are a frequent traveller or if you simply want to have protection for basic part repair and replacement for a couple more years. So, what's included in a Skoda extended warranty?

What's Included in the Skoda Extended Warranty?

An extended warranty is technically additional insurance on the vehicle that will protect your financial interests from expensive repairs for unforeseen damages, corrosion, or manufacturer error. In general, an extended warranty will cover the same things the original warranty does, but for a different specified period of time. It's common for an extended warranty to only cover one or two additional years after the standard factory warranty. Your warranty will cover things like unexpected vehicle faults that are not caused by driving errors, such as corrosion of parts and part recall. Your warranty will also cover things like Roadside Assistance, genuine accessories, and will be fully transferable if you want to sell your Skoda while the warranty is still in effect. These benefits are also covered in the extended warranty.

What Isn't Covered By the Extended Warranty in Sydney?

Because an extended warranty will cover what the original warranty covers, it makes sense that things not covered by the original warranty will also not be covered by an extended warranty. In particular, things that are not covered by an extended warranty include special accessories, customization, or other bodywork that is not part of the original vehicle. To keep your extended warranty active, you must report any defects in the body of the vehicle or beneath the bonnet immediately. If you fail to report defects to an approved Skoda dealer or the Skoda Authorized Network, you could void your warranty coverage.

How Is an Extended Warranty Different From a Standard Warranty?

You can think of an extended warranty as being an add-on policy that gives you additional coverage for your vehicle. While the original warranty gives you standard protection, an extended warranty gives you additional time to enjoy that protection. A Skoda warranty is pleasantly robust. While the warranty lasts for five years total and has an unlimited kilometre range, it's important to understand which parts of this warranty are considered "extended". The original Skoda warranty includes a three-year factory warranty for all Skoda vehicles. After three years, drivers then have the choice of opting in to an additional two years for continued coverage, which totals the five-year unlimited warranty. In total, your Skoda warranty will cover you for five years - but three of those years are part of the standard warranty, while the last two years are part of extended coverage. An extended warranty from Skoda will provide the same coverage as the original warranty, which gives drivers more confidence on the road and if they are ever in need of repairs. An extended warranty can be vital to keeping your Skoda in good condition.

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4 Tips for Financing a New Skoda in Sydney

The new Octavia Sport is one of the best vehicles on the market. The Octavia Sedan is perfect for those who need space for their growing families, those who want something sporty and sleek, and those who want something practical. Once you decide this vehicle is the right one for you, it is time to check out Skoda dealers in Sydney to find the right one for you. Before you can purchase the Skoda Octavia, you need to consider how you will finance this purchase. There are several places you can apply for these funds, but having everything organized and prepared will make this process easier.

4 Tips for Financing a New Skoda in Sydney

1. Know the Language

Know the language about financing before purchasing a new Skoda Octavia. This makes it easier to pick out the best offer for you. Know what the average interest rate is for your loan size, how much downpayment the lender will require, and what credit score they prefer. Being prepared with all of this information will help you apply for financing right away when you find the perfect Skoda.

2. Look at Your Credit Score

Pull your credit report and see how your finances look to a potential lender. The Equifax Score, formerly known as the VedaScore, falls between 0 to 1200. The higher your score, the easier it is to get financing on a new vehicle. Your goal is to have a score between 726 to 832, though some dealers may work with you even if your credit score is lower. If there are a few issues on your credit report, take some time to clean them up. This may require you to make a few calls or wait a few more months before purchasing your new vehicle. Waiting and getting your score higher will improve your chances of getting favourable terms on the loan.

3. Find a Good Deal

Do not apply for just one loan for your Skoda financing in Australia. It may surprise you how different the terms are on loans from each financial institution. One bank may provide you with one interest rate, one may have a lower rate, and some may require a downpayment while others do not. Always shop around for the best deal. If you take the first offer without comparing all available offers, you may cheat yourself. The first offer may end up being the best one. At least if you apply to three or four options, you know for certain you are getting the best financing terms on your new vehicle.

4.  Ask Skoda Dealers in Sydney

Compare any offers you get from other sources with the offer the car dealership can provide. Often, the dealer has the best financing terms. If you struggle with getting preapproved through another financial institution, talk to the Skoda dealer in your area. They may have different lending requirements that make it easier for you to qualify. There are many options available for financing your new vehicle. Comparing options and learning what will give you the best deal can make it easier to drive home in your new Skoda Octavia today!

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The best Skoda dealership in Parramatta wants you to know 3 things to never do with your new vehicle!

And when you’ve made a purchase at your Skoda authorised dealers in Parramatta, you can count on always receiving the kind of support that creates customers for life. It’s just one more reason that buying a Skoda is simply the smart thing to do. For more info: Best Skoda dealership in Parramatta

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Visit your closest Skoda dealer in Parramatta and Sydney today to sample the luxury of the Skoda Kodiaq SUV

Your top Skoda dealership in Parramatta and Sydney is your immediate destination to experience everything the Skoda Kodiaq SUV has to offer. Make time to test drive one today! For more info: Skoda dealer in Parramatta Sydney

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Closest Skoda Dealer Parramatta Sydney

Finding a dealership that does things differently and provides you with the best quality Skoda vehicles? Count on Thomson Skoda who work with a customer-focused approach and stock a wide range of New, Demo, and Used Skoda vehicles. For more info: https://www.thomsonskoda.com.au/