If you are looking for offers covering a large range of flexible vehicle loan and leasing options for you and your business, our team can help you. It’s important to know the difference between a vehicle lease and a vehicle loan to ensure you have the best possible finance for your vehicle of choice.
A vehicle loan could be for a car, boat, caravan or motorbike. Explore all of the options with us to get the best finance for you personally.
Deciding on the right loan option for your situation can sometimes be confusing that’s why we’ll take the time to discuss this with you and get the right result.
Choosing a Car Loan
A car loan is a personal loan for the specific purpose of buying a new or used car.
You borrow an amount of money that you have to repay within a certain period of time (called ‘the term’). You will have to sign a credit contract that specifies the amount borrowed and how you will repay it.
The term can vary, but is usually between 12 months and 5 years. If you don’t pay off the full amount of the loan by the end of the term, or if you can’t afford to make equal payments over the life of the loan, the final payment must be made as a lump sum. While this makes repayments affordable, you may be left with a large amount of money to pay off or refinance when the term ends.
With secured loans you offer an asset, such as the car you are buying, as security for the loan.
If you don’t make repayments, the credit provider can repossess and sell your asset to get its money back. The age of your car will affect its resale value. If your car is sold for less than you owe, you will still have to pay the credit provider the difference.
We will guide you through your options and assist you to make the best choice for your vehicle finance needs.
Let’s help you find a fairer deal.
Authorised Credit Representative 383415 of IFBA Pty Ltd. Australian Credit Licence Number 383415.