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One of the easiest and most important car maintenance tasks that you should perform regularly is checking your car’s fluid levels. There are six fluids that you need to look at: the oil, brake fluid, transmission fluid, power steering fluid, coolant and windscreen washer fluid.

Checking the Motor Oil

Motor oil lubricates the moving parts of your car’s engine, prevents corrosion and helps control the engine’s temperature, so it’s a good idea to regularly check that you have enough motor oil and that it’s clean.

It’s important to make sure that the engine has cooled and the oil settled into its reservoir, so wait at least an hour after driving to check. Find the oil dipstick—your owner’s manual will tell you where it is—and pull it all the way out, clean it, put it back in and pull it out to get an accurate reading of your oil levels. Markings on the dipstick demarcate an acceptable range of oil levels. You should also check the oil’s colour. Fresh oil is clear and honey-coloured, but it turns dark and opaque as it gets old and dirty.

Regularly check your vehicle

Checking the Brake Fluid

Brake fluid is normally contained in a labeled plastic reservoir. You can usually just shine a torch on the container in order to see the fluid level. Unlike transmission fluid or oil, brake fluid is used for a hydraulic pump, so it isn’t used up. Low levels indicate a leak, which you should have fixed immediately.

Checking the Transmission Fluid

With the engine warmed up and running in Neutral or Park, pull out the transmission fluid dipstick. The procedure here is exactly the same as with motor oil, except that fresh transmission fluid is generally a reddish colour.

Checking the Power Steering Fluid Levels

Power steering fluid is also kept in a clear plastic container, so all you have to do is look through its walls. There are usually two pairs of fluid lines: one pair for a hot engine and one for cold. The reservoir should also have fluid level indicators for both hot and cold. Check the level against the engine’s current temperature. Simply open the lid and pour in more power steering fluid if it’s low.

Checking the Coolant

Make sure the engine is cool. Otherwise, hot steam could spray out and burn you! Coolant sits in a reservoir near the radiator. There should be an external level indicator; just open it up and add more coolant if it’s low.

Checking the Windscreen Washer Fluid

The washer fluid reservoir is usually situated near the back of the engine bay. Like most others, it’s usually kept in a clear tank that you just need to look at and top off from time to time.

Checking the levels of each fluid seems tedious, but they’re all very quick and simple procedures, so it won’t take you very long to do regularly. It’s important an important maintenance task, since keeping your car in good condition is the best way to keep costs low as you pay down your car loan. We hope that you learned something from this guide, as well as from our other two guides on car maintenance basics: How to Change the Oil and Changing a Tyre. Look to 360 Finance for the best car finance solutions in Australia.

It’s as dreaded as it is inevitable. One day, we’ll all find ourselves needing to change a tyre. Make sure you know how to change one before you have to try to learn it on the fly and under pressure. Just as obtaining car finance through 360 isn’t a difficult process, neither is changing a tyre. However, it’s absolutely vital that as a car owner, you be able to install a spare tyre properly and safely. This guide will go over everything you need to know: tools, procedures, and safety precautions.

The Tools You’ll Need

While only the first three tools in this list are strictly necessary, the rest will make the whole thing a lot safer for you and other drivers on the road.

• A spare tyre – they’re usually located in a spare tyre well in the boot or bonnet
• A jack
• A socket wrench – they often come in a cross shape or as a bar with a pry bar at one end
• A wheel lock
• A warning triangle

An invaluable skill

What to Do

Most likely, you’ll have to change your tyre by the side of the road, so the first thing you should do is make sure that your car is safely stopped and the area secured. Once you notice that one of your tyres has gone flat, you should find a safe, level place to pull over and stop your vehicle. Turn on your hazard lights and place your warning triangles around your car to alert other drivers. If you have a wheel lock, put it on one of your good wheels to keep the car from unexpectedly rolling. It’s also a good idea to put a heavy object like a rock in the way of all the tyres.

Take your jack and use it to support the corner of the car with the flat; at this point, the jack shouldn’t actually be lifting the car, just supporting it. First, remove the hubcap. Then use the socket wrench to loosen, but not remove, the lug nuts by turning them anticlockwise. Now, lift the car up with the jack and remove the lug nuts entirely.

Take the entire wheel off the hub and replace it with the spare tyre and wheel. You’ll then do the same process in reverse. Replace the lug nuts and tighten them by hand as much as you can. Then, lower the car with the jack until the tyre touches the ground, like before. Finally, fully tighten the lug nuts with the wrench, lower the car fully, and put away your jack, wheel lock, and everything else that you used.

Many, but not all, spare tyres aren’t meant for continued or high-stress use. Either way, your next priority should be to find a suitable replacement for the flat tyre since you’re running without a backup tyre at the moment.

That’s all there is to changing a tyre. If you don’t know much about car upkeep, check out our other two articles on car basics: Checking the Fluid Levels and Changing the Oil. As always, whether you’re planning to buy your first car and are still learning the basics or you’re an old pro, 360 Finance are here to help. We may not be able to help you physically change a tyre, however we are here to secure you the quickest and easiest car finance in Australia.

A new car is a costly purchase. Right now, you can expect to spend upwards of $22,000 for a small car, $30,000 for a medium-sized car and over $44,000 for a ute, and you are almost certainly going to need to take out a car loan. With that kind of money on the line, it’s important to know how much value you can get back from your car some years down the line, because you will probably end up selling it eventually. You may even plan to buy a new vehicle and resell it a few years later in order to help put a deposit down on a newer model, and thus reducing your loan to value ratio on your new car finance. In that case, you’ll want to choose a car that will give you back as much of the money that you spent on it as possible.

Do your homework and save

We already talked about why Most Cars are Terrible Investments and explored some cars that can actually appreciate in Most Sought-After Classic Cars. This time, let’s talk about how to figure out which new cars will hold onto the highest percentage of their original cost.

It’s Economics: Factors that Affect Resale Value

A car’s resale value depends on many factors; some are qualities of the car itself and some are more external. Cars with a reputation for reliability will tend to deprecate far more slowly than those that have a reputation for breaking down within a few years or few hundred thousand kilometres. That should come as no surprise. However, external factors like local demand for certain cars will affect their resale value enormously, too.

For instance, you might be able to sell a ute at a much better price in a rural or industrial area than in a city or suburb and a flashy car might not sell easily in a farm town. That’s just one of many influences to consider. This article from bankrate.com outlines all the biggest factors, so it’s worth reading. While the content is geared towards American audiences, the principles are sound. When you’re getting set to sell your car, you need to think like a salesman. Know your market and cater to their demands.

Do your Homework: Calculators and Resale Awards

Fortunately, you don’t have to rely on your wits or spend hours researching demand and market valuation. You have numerous tools and resources at your disposal that can help you find out the value of your current car or make a list of the cars that hold their value over time.

The most useful and well-known of these is undoubtedly the Red Book, which contains, among other useful resources, a resale value calculator that factors in make, model, year, and distance travelled. Edmunds’ car reviews section is yet another useful site that gives out awards to brands and individual cars, by category, for their resale value.

If resale value is important to you — and it should be — you should take these articles and tools into account when you choose a new car. Deprecation can potentially cost you more over your car’s lifetime than petrol or maintenance, so this isn’t just an academic exercise. Resale can account for tens of thousands of dollars, so make sure that if you’re planning to sell your car at some point, you choose a car that won’t deprecate badly!

Once you have tracked down the car that will be gentle on your pocket in the long run, fill in a quick quote for car finance or call us on 1300 361 360 today.

With the EOFY Sales in full swing, you might be feeling the pressure to beat the buzzer and get in for a good deal before June 30. This time of year is definitely a great time to buy, although you shouldn’t rush, and here is why.

Often emotions can cloud your judgement when the pressure is on and with such a large purchasing decision; we recommend slowing the play down and controlling it, otherwise you might get stuck with repayments that are out of your budget for years to come.

Let’s help you get a slam dunk deal, even after June 30 by following the car loans playbook.

Have an action plan!

Coach Tips;

• Live within your means / play within your ability;

  Decide realistically what you can afford per week after all your expenses are factored in. Remember to include fuel, registration, insurance and maintenance costs of the upcoming purchase. This is extremely important as it will give you an idea of the type of vehicle that fits your budget. There is no use shopping for an AMG Mercedes when all you can afford is a Toyota Yaris… No offense Toyota.

• Go on the offensive / compile all documentation;

  Be proactive and have documentation at hand before applying for finance. Obtaining a copy of your credit file from a credit reporting bureau (CRB) such as VEDA is an excellent start. By doing so, you will be able to know how much buying power you have whilst obtaining finance. CRB’s will allow you to request 1 free copy of your credit file every year and are required to pass this information to you within 10 days. Faster options are also available for a small fee. Compiling documents such as your banking statements and proof of income can make the process a lot smoother and allow you to bargain for a better rate.

• Structure the play / get finance organised before shopping for a car;

  When buying smaller ticket items, it is normal practice to go shopping without worrying too much about whether or not you can afford it. However, when buying a car, it is best to get your finances sorted before going on the hunt. By organising a car loan first, and having a solid figure that you can spend will allow you to approach the car yard as a “Cash Buyer”, and this is a good thing says Les McIntosh from 360.

  By doing so will take away the upper hand from the dealer in allowing them to make a large profit from offering you high dealer finance rates.

  According to Matt Ingram, “Dealerships make their money from high interest rates, after market accessories and ongoing service agreements.” Relatively little profit is gained from the actual sale of the vehicle, and that is why it is beneficial to take on board our next point of separating the finance from the car purchase.

  Tip: Always find out if the car yard is willing to put forth a counter offer.

• Split the defense! / break the deal into sections;

  Don’t be bombarded by everything in one hit. Try to split it up, when buying a car you aren’t only buying a car, you are also signing up for insurance, warranty and any extras you wish to include. Car loan brokers are excellent at joining the dots and reducing your costs and essentially are like a hub that has access to far lower rates on extras and options than car dealerships do.

• Cut out the player / Remove emotional buying from the equation;

  There is a relatively unknown play that can save you a fortune when buying a car. Utilising a car finder service. You don’t even have to shop for a car! In fact, sit at home and “let someone else with professional negotiating skills deal with the car yards and to do it for you”. That is how Trent Pitt, our Finance & Insurance manager went about sourcing the best price on his Jeep. The savings were considerable.

  360 Finance will target your dream car and find it at the most competitive price, that way you are removing the emotion from the purchase. Don’t worry; you can get back your excitement when the keys and car are delivered. Handy Hint: If you decide to go shopping yourself, always have a teammate with you. They can help you keep a clear mind and balance out the people power during discussions with salespeople and managers.

• Be committed to the cause;

  Consider placing a deposit down to show your commitment. This will reduce the LTV (Loan-To Value) ratio and will give the lending institution more confidence in your application. Note: The higher the LTV, the more risk the lender takes when offering a loan.

  Don’t let your guard down;

  If you ever feel overwhelmed with paperwork or fees, don’t be afraid to stop and ask as many questions as you can. Similarly, don’t let the speed and excitement of the deal lure you into agreeing to things you may not want.

  Don’t worry if you miss the June 30 deadline. Car dealerships are always having sales and structuring deals that lure customers in. Just remember that by following our car loan playbook, you will have the confidence and the skills to secure the best deal possible.

To find out the backgrounds of the finance professionals who shared their insights in this blog post, click here.

Last week, we talked about why Most Cars are Terrible Investments and this week, we’re going to start by talking about some of the exceptions to that rule.

There’s something magnetic about classic cars. No modern car has the same kind of look and feel and their simpler, more manual controls make them fun for car lovers to drive. For some, classic cars aren’t just luxuries, they’re investments.

Of course, not all cars are made equal and for reasons both serious and spurious, some classic cars capture the imagination more thoroughly and command higher prices than others. The most sought-after classic cars are, unsurprisingly, some of the most iconic cars of all time. Take a look at which cars from years past still demand—and deserve—our attention.

Which are the Most Sought-After Classic Cars?

Today’s luxury sports cars are quite nice. They have bells and whistles that weren’t even imaginable fifty years ago, but they don’t have the pure beauty of the Jaguar E-Type, the Maserati Ghibli, or the Aston Martin DB5 that was enshrined in our consciousnesses by James Bond. This is no coincidence; sports cars represent the aesthetic sensibilities of generations and the 1960s and 70s were landmark decades for the auto industry, technology, and society at large. Classic films and TV shows have given those times a special place in our memories, whether or not we had been born yet, and these cars are clear symbols of the era. In fact, when you picture a classic car, odds are that even if you don’t imagine one of those cars mentioned above, the car you imagine was made between 1960 and 1980.

Of course, high-end sports cars don’t tell the complete story. Muscle cars, if anything, are even better representatives of those decades. Typically much more affordable than contemporary luxury sports cars, muscle cars were designed for street racing, and they were made with three things in mind: a high top speed, impressive acceleration, and precise handling.

While the United States was the world’s muscle car maker, domestic car companies like GM Holden and the Australian branches of Ford and Chrysler produced classic muscle cars that you would probably recognise as distinctly Australian, like the GM Monaro, Ford Falcon Cobra, and Chrysler Valiant Charger. Australian classic cars are still the objects of fervent discussion, analysis, sale, and modification by groups like Australian Muscle Car Magazine and Collectable Classics, avenues through which you could easily research and price out classic cars.

Why Go After a Classic Car?

There are some good reasons to invest in a classic car beyond love of the machine itself. People see these cars as artworks as much as vehicles and are willing to pay quite a bit for one. If you’re willing to put in the time and effort to fix up a classic car that’s not in peak condition, it’s entirely possible to resell it for a tidy profit even if the purchase price at the beginning was already quite high.

Either way, plenty of financing options for classic cars exist. Taking out a car loan for a classic car is actually common for hobbyists, collectors, and those who want to fix and resell one. After all, the principal cost of any car is going to amount to a significant purchase. And, of course, if you’re interested in getting your hands on a classic car for any reason, it’s not a bad idea to look at your financing options. 360 Finance can help.

The common wisdom is that a new car loses half of its value the moment you drive it off of the dealer’s lot. That assumption is close enough to the truth because in doing so, a car undergoes the sinister transformation from new to used. However, not all cars lose their value at the same rate and older, so-called ‘classic cars’ can actually appreciate in value. So, we have to ask, can a car be an investment?

Rare or culturally significant classic cars, like muscle cars, can be valuable collectibles. In fact, classic cars can become so valuable that taking out a small car loan for one might be a great investment, especially one with superficial defects that reduce its cost. Fixed up and well-maintained, such a car can be resold at a profit or held onto as a high-value asset.

Some Age Better than Others

If you’re looking for a new car that you expect to resell in the near term, don’t despair! Even though classic and antique cars are by far the best proper investments, plenty of new cars lose their value much more slowly than most and make for a good option for minimising your losses on resale. Resale value rests on a number of factors, including the car’s availability, popularity, reputation, and brand.

The Red Book tracks car resale values in Australia and is a valuable resource for used car sellers and buyers. It looks at the best individual cars in various categories, including vans and compact cars as well as the best overall and luxury brands for resale. If, for example, you expect to advance in your career in the next few years and intend to buy a car soon and then resell it in a few years to finance your next, better vehicle, pay close attention to these statistics.

The Diamonds in the Rough: Cost-Effective Classic Cars

Classic cars, due to their rarity, their hard-to-find replacement parts and the difficulty in finding mechanics who can work with them, can be very expensive to buy and maintain. If you’re out to find a classic car for the love of the vehicle itself, then you’re not just looking for a monetary investment, and this may not be as much of an issue. However, if you are looking to make an investment, then you’ve got a little strategising to do.

Remember that you’ll most likely need to restore this vehicle. You’ll want to find out which classic cars are readily available and for which parts are relatively plentiful. You may even want to look for a good mechanic who’s experienced with that model. Hemmings has a good article on where to start in finding and restoring classic cars. Because it’s geared towards an American audience, the specific cars that it lists might not be the best for Australians, it’s a great guideline.

While most cars are terrible investments, there are a select few that you should look out for. With any luck, you’ll find a good car to invest in. To you, we wish the best of luck, and hope that this article has helped you make your first steps!

As our tagline states, we make finance quick & easy. To do this, we need a little help from you too and with the right proactive attitude, you can be driving down the road in your new car all in the same day.

According to Richard Burgess (Sales director at 360 Finance), “An application can be processed as quickly as it is keyed in to the system. There are no stop signs when it comes to a finance application through 360, only the occasional speed bump.”

We can boast about our speed of service because you have a dedicated finance consultant whose job is to process finance applications online, on-time, every time. Our consultants are directly connected to the systems of our 30+ lenders and your finance professional is at the ready to input your application and have it processed on the spot.

With the ability to process applications so quickly, this raised the question of what factors can slow down a car loan application?

This question was put to the 360 staff members and quickly the answers came flooding in. Here is a list of the most common speed bumps in the application process.

1. 1. Poor quality photocopies/faxes
      Ruby Metla (Car loan professional at 360) mentions that often scanned or faxed documents and licences will come back blurry or too dark. Jeremy Andrews agrees with this and suggests that you check your fax/copy settings first before sending your documents to your finance consultant. Garth Povey suggests using a smart phone camera as they can often yield great results for sending in photographs of licenses and medicare/bank cards.

1. 1. Honesty
      There is no need to stretch the truth when applying for a loan. Banks and lending institutions have access to more of your credit history than ever before with the introduction of the Positive Credit Reporting system and will pick up any discrepancies. This type of behaviour can lead to slower processing of your car loan application.

1. 1. Incorrect or expired documentation
      Dan Butler notes that expired drivers licences can slow down the process as lenders require current, non-expired copies.
      Another common occurrence according to several staff is when customers send through a notice of assessment instead of a full tax return. This can be avoided by using the checklist provided in our application request email and ticking off the documents as you send them.

1. Dealers withholding a tax invoices
   A tactic of some car dealers is to avoid handing over a tax invoice. Tax invoices are needed by finance companies to help you get the best deal. This strategy is designed to steer you toward taking a finance offer through the dealership which will often mean a higher interest rate and repayment. As can be seen in the testimonial by Logan H on the Start Local website, he saved $4000 in interest by obtaining the tax invoice and placing his application through 360.

25/02/2014
Great rate offered to me after waiting a whole day for the car yard to give them (360 Finance) the invoice to quote. I am happy I waited as Dan has saved me over 4000 dollars in interest to what the yard quoted. Thanks 360.

As a rule of thumb, remember to take care when faxing/scanning documents, always check the date and names listed and don’t try to secure a car loan that is out of your budget.

Our application process requires your assistance to make this process as quick & easy as possible so let’s iron out the speed bumps in the application and make the car loan process as fast as a Ferrari F1 pit stop.