A: We have online & over the phone applications available to get the ball rolling! 

Once we have received an application, the first stage of the car loan process is to find out how much you can borrow, what you can afford and if this provides the funds your need to purchase your ideal car.  

 
A finance specialist will quickly assess your basic information and financial circumstances before arranging a finance pre-approval on your behalf to ensure we meet your needs & requirements for the loan. 
 
Once you are happy with the proposed loan structure (term, amount, interest rate etc) your application will be submitted to the selected leader for Settlement of the Loan. When the loan ‘Settles’ the money will be transferred to the vehicle seller (private or dealership) and the car is yours! 

A: A car loan is a type of loan for the specific purpose of buying a new or used vehicle often referred to as a “secured loan”. 
 
When you take out a car loan, you borrow an agreed amount of money (loan amount) from a financier (lender) for a set period of time (loan term) that you agree to repay in set scheduled repayments to suit your budget. 
 
Loan repayments are calculated based on paying back the amount borrowed, interest and any fees charged within the loan. The interest rate you pay is largely determined by the lender based on a number of factors including the age and value of the car you are seeking to buy. Your dedicated finance broker will assess the lenders criteria to ensure your circumstances are suitable to proceed. 
 
Car Finance is generally available as either a secured loan or an unsecured loan. This will depend on if you agree to use the car you are buying as security on the loan, or what options are available to you. 

 
If you proceed with a secured loan, it reduces the risk to the lender in the event you are unable to meet your repayments or financial commitments of the loan. This reduced risk to the lender often means they can offer a lower interest rate or more favourable terms. 
 
We will guide you on the most suitable option available when it comes to deciding between a secured vs unsecured loan. 

A: There is no ‘concrete’ limit for how much you can borrow with a car loan. Each lender has different minimum and maximum loan amounts, but mostly the limit is determined on a case-by-case basis depending on your choice of car, type of loan and your financial circumstances. 
 
As a general guide, many Australian lenders have a minimum borrowing amount of $5,000 & in more rare circumstances we can provide loans from $2000. 
 
In some cases, you may not be able to borrow the full amount of the vehicles purchase price, but will be required to provide a portion of the car price via a deposit. For Secured Loans, you generally cannot borrow more than the total value of the asset used as security on the loan.