Personal car loans
These are predominantly secured loans which means the car is used as security for the loan, and being a secured loan means you are more likely to qualify for a lower interest rates. These loans can be structured from 12 to 84 months in term as long as it fits affordability so we can work that out with you as needed.
Buying the car – you can buy either new or second hand vehicles and we can cater to nearly every age of vehicle too, so if you are buying a specialist or collectors car you can still obtain finance. The vehicles can be sourced from new car dealerships, used car yards or from a private sale. (Keep in mind if you are buying private sale that you are liable for the stamp duty and transfer fees and often cannot include that in the finance).
As well as having a large suite of lenders we can also quite often help you to source your vehicle as we have ongoing relationships with car dealers and wholesalers.
Business car loans
Chattel Mortgage – these loans are designed for business usage and you can claim the GST on your purchase on your next BAS statement (up to the threshold). The vehicle is used as security on the loan so although it can be sold at any time the loan must be finalised.
(You may be eligible to apply under a low doc option if your current financials aren’t up to date). Chattel mortgages can be paid either in arrears or in advance and balloon payments are available to approved clients.
Novated Lease– This is an agreement between yourself, the lender and your employer where your employer pays the monthly payment on your behalf from the pre-taxed salary (conditions apply).
Maintained or operating lease– this is where you can have all of the ongoing costs affiliated with running a car incorporated into the monthly payment for example registration, fuel, servicing etc.
Hire purchase– Not a facility that is used as often today but it is still available and you can claim the depreciation on the vehicle. It is the same as the above facilities as in it can be modified to suit your requirements, low doc lending may be available.
PLEASE NOTE that all business lending have different criteria and characteristics which may or may not suit your business or personal needs so if they are not structured correctly they may not work in your best interest so it is best to speak to your accountant as they are the best ones to advise which structure best suits you and from there we will source the best lender to fit that requirement once you know what works for you and as with all loans conditions apply.