Stratton Finance - Anyone used them?

[BDA074]

Hi all,

Looking at using Stratton Finance to finance my new car. Has anyone else used them and have any feedback?

Usually use dealer finance so this is new to me.

Thanks in advance

[Pedro]

Stratton Finance is a broker and Carsales has recently bought a 50.1% controlling interest in it ... http://www.themotorreport.com.au/592...-profitability

[DougM]

I have used them 3 times. Great service...

They were the only ones that provided a package that didn't lump the interest(total amount owing) from day one of the loan.

For example:- You borrow $40k + $10k interest.....

From day one, all the other loans would have you owing $50k!!

Stratton finance added the interest across the term of the loan...

Before I used Stratton, I bought a used XR8 for $18k and used the dealer's finance. The car was written off in an accident 1 month later and I ended up still owing around $23k !!!!!

Yes there is loan insurance, but why pay even more if you don't have to..

Check it out....It's worth while.

[SumoDog68]

Originally Posted by DougM

I have used them 3 times. Great service...

They were the only ones that provided a package that didn't lump the interest(total amount owing) from day one of the loan.

For example:- You borrow $40k + $10k interest.....

From day one, all the other loans would have you owing $50k!!

Stratton finance added the interest across the term of the loan...

Before I used Stratton, I bought a used XR8 for $18k and used the dealer's finance. The car was written off in an accident 1 month later and I ended up still owing around $23k !!!!!

Yes there is loan insurance, but why pay even more if you don't have to..

Check it out....It's worth while.

Does not 40k + 10k interest mean you owe 50k ?

[xxx000]

Originally Posted by SumoDog68

Does not 40k + 10k interest mean you owe 50k ?

yes if you have the loan over the whole term but not from day 1

read his post carefully and you'll see that's what he's saying

[BDA074]

Originally Posted by DougM

I have used them 3 times. Great service...

They were the only ones that provided a package that didn't lump the interest(total amount owing) from day one of the loan.

For example:- You borrow $40k + $10k interest.....

From day one, all the other loans would have you owing $50k!!

Stratton finance added the interest across the term of the loan...

Before I used Stratton, I bought a used XR8 for $18k and used the dealer's finance. The car was written off in an accident 1 month later and I ended up still owing around $23k !!!!!


Yes there is loan insurance, but why pay even more if you don't have to..

Check it out....It's worth while.

Thanks for the info, were their interest rates competitive?

[DougM]

Originally Posted by BDA074

Thanks for the info, were their interest rates competitive?

They were also the most competitive rates.

[Spammy]

Originally Posted by DougM

I have used them 3 times. Great service...

They were the only ones that provided a package that didn't lump the interest(total amount owing) from day one of the loan.

For example:- You borrow $40k + $10k interest.....

From day one, all the other loans would have you owing $50k!!

Stratton finance added the interest across the term of the loan...



Check it out....It's worth while.

Normal loans do not add interest on day one, if they did you would be paying interest on interest.

[DougM]

Originally Posted by Spammy

Normal loans do not add interest on day one, if they did you would be paying interest on interest.

I had three quotes for my current car and stratton gave me a spreadsheet comparing the amount owing on the different loans from the first month to the last. I even questioned the dealer finance and they admitted that stratton were correct.

[BDA074]

Stratton have been pretty good so far, better than the dealer, that's for sure on service and price...

[bbbero]

try carloans.com.au, Im in the process of a new car purchase with them, they sourced the car at a awesome price and the interest rate they have offered me is 4.7%, best rate I could find!!

[BDA074]

Originally Posted by bbbero

try carloans.com.au, Im in the process of a new car purchase with them, they sourced the car at a awesome price and the interest rate they have offered me is 4.7%, best rate I could find!!

Thanks for the heads up! That's a good rate, will check them out too...

[SPArKy_Dave]

We ordered a new Ranger XLT work vehicle today - through Stratton.

They were $1,000 cheaper than the best deal we could find at a dealer.
And the car gets delivered to us.