Car Loans

Car Loans2017-07-11T11:51:44+10:00

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Loan Types

Consumer Loan

This type of finance can be tailored to suit your needs, with fixed repayments and loan terms up to 7 years. A final balloon payment can be applied to your loan to reduce your monthly repayments. A balloon payment means that over the course of the loan, you will only repay part of the principal and as a result, at the end of the loan term will owe the lender a lump sum. Ownership of the vehicle remains with you, however the ­lender takes an interest in the vehicle as security for the loan. Once the loan is ­finalised the ­lender will lift their interest in the vehicle handing the customer clear title.

Chattel Mortgage

A commercial ­finance product where the vehicle is mainly used for business purposes. Flexible contract terms up to 5 years and a balloon amount can be applied to tailor your monthly repayments. Ownership of the vehicle remains with you and the ­lender registers an encumbrance. Once the loan is ­finalised the ­lender  will remove the charge and hand clear title to you.

Finance Lease

A rental agreement where the ­lender owns the vehicle and you then lease it for an agreed term and amount. Terms range up to 5 years. At the end of the lease term you have the opportunity to buy the vehicle and payout the lease or extend the lease for a further term.

Novated Lease

A popular way of offering employees an opportunity to ­finance a motor vehicle as part of their remuneration package. A novated lease is an agreement between an employer, employee and the ­finance company. The employer makes the monthly repayments on behalf of the employee from their salary. Lease terms are usually from 1 to 5 years.