Car Loans

Whether you are purchasing a car for your own personal use, or it is being purchased for business use, we have numerous car loan solutions for you.

Types of car loans

We can help you seek vehicle finance for the following scenarios –

  • New cars
  • Used cars
  • Dealer purchases
  • Private sales
  • Self-employed car loans
  • Bad credit car loans

Car Loan Fast Find

Chattel mortgage

Chattel mortgage

Loan to purchase vehicle to be used predominantly for business purposes.

  • Car will be owned in your name and the lender places a “mortgage” on it.
  • If car is being used for business purposes you may be able to claim a tax deduction on interest charges and depreciation as well the GST on the purchase price as an Input Tax Credit on your BAS.

Finance lease

Finance lease

Finance company purchases car on your behalf and leases it back to you for a fixed monthly fee.

  • Car will be owned by the finance company. You may take ownership once all payments, including a residual, are made.
  • If car is being used for business purposes you may be able to claim a tax deduction for the lease payments as well as claim an Input Tax Credit for the GST on each lease payment.

Novated lease

Novated lease

Three-way agreement between an employee, their employer and a finance company to purchase and finance a vehicle for the employees use.

  • Employee agrees to “salary sacrifice” a portion of wage in return for the vehicle and all running costs.
  • Can be tax-effective since a large portion of the ongoing payment comes from pre-tax income.

Consumer car loan

Consumer car loan

Secured loan to purchase a car for private use.

  • Loan term up to 7 years
  • Purchase a car without a deposit

Frequently asked questions

Not sure? Have additional questions? Try here –

I have seen dealers offering 0% or 1% p.a. car finance. Can you beat that?

These offers sound great in theory but are they really the deal of the century they are portrayed to be? The short answer is usually “NO”. There are usually a few catches to these low rate offers as follows:

  • You normally have to pay the recommended retail price of the car and it is not negotiable. Shopping around or using a new car broker will normally save you thousands of dollars of the retail price, resulting in a lower required loan amount and possibly a lower loan repayment, even with a higher interest rate.
  • Lower trade in values are generally offered if you are trading in another vehicle.
  • The loan is usually less flexible in respect to the length of the loan term etc.

The interest rate offered by the dealer is lower than your rate. Why should I use your recommended lender?

When it comes to car loans never compare them on the basis of interest rate but instead compare the monthly repayment. You may be quoted a cheap rate but there may be hidden charges added to the loan amount which results in the repayment amount actually being higher. When comparing the repayment amount you need to also ensure that both options have the same loan term and the same residual or balloon payment (if applicable).

What is the most popular type of loan used to finance cars for business purposes?

The most popular loan type these days is the Chattel Mortgage. Please consult your accountant before deciding which type of finance to use.

What is the difference between a car loan and a personal loan?

A car loan is secured by the car being purchased whereas a personal loan is unsecured. Due to car loans being secured they generally offer lower interest rates than personal loans as well as potentially higher loan amounts.

Need help? Give us a call.

Why not give us a call, or send us an email and get a direct response from one of our finance experts. We’d be happy to give you a hand and help point you in the right direction.