Vehicle finance is commonly used to fund the purchase of cars, with loan amounts typically ranging from $5,000 to $120,000. These loans can be used for both new and used vehicles. Loan terms generally run between three and seven years, although longer terms may be available if required. Car loans can be secured—usually against the vehicle itself—or unsecured. Secured loans generally attract lower interest rates, starting from around 4.70%, compared to unsecured car loans.

Taking the time to research and select the most suitable car loan can result in significant savings. Helping our clients find the best possible vehicle finance solution is exactly what we aim to do.

Applying for a car loan can be challenging. Here are some helpful tips to consider:

Plan your budget: Purchasing a car can be an exciting experience, particularly if it is your first vehicle. While finance may cover the purchase price, additional costs such as insurance, maintenance, fuel, and ongoing expenses should also be considered. Creating a realistic budget will help you avoid unexpected financial strain.

Talk with your broker about loan requirements: Each lender has different criteria, so it is important for your broker to explain what documentation and conditions are needed. Working closely with your broker can make the application process much smoother.

A deposit or upfront payment may be required. Planning ahead and saving for this amount is a sensible approach.

If this is your first credit application, opening a bank account and establishing a financial history can be beneficial, as lenders generally prefer applicants with a demonstrated credit record.