Brokers are becoming an increasingly popular choice amongst Australians when trying to access a car loan. A broker's role is to facilitate a connection between lenders and borrowers — they can work on behalf of the lender to find suitable loan options.
Brokers will usually have a specialised area of expertise, which can be vehicle finance, and can provide ongoing service and advice, including refinance options and other new deals.
The drawback of using a broker is that it can often be more expensive due to the additional margin and fees charged on top of the loan. There can also be extra layers of administration and paperwork, delaying the time it takes to find finance and buy a vehicle.