Avoid the speed bumps and let our brokers find the car loan right for you, and your new ride. We’ll help you navigate the process, so you can focus on the road ahead.
Understanding Common Car Loan Options
Car loans are designed to help individuals and businesses finance the purchase of vehicles, whether for personal use, business operations, or as part of a fleet. With a variety of loan options available, it’s possible to find a solution that suits your specific needs and budget.
Compared to traditional forms of finance, the benefits of car loans can include preserving your savings, improving cash flow, reducing upfront costs, and providing flexible repayment options. Whether you’re buying a new or used car, a tailored car loan can make the process more affordable and manageable.
Secured loans
You provide collateral (such as the car or property) as security against the loan in case you can’t afford your repayments. Lenders typically offer lower rates for secured loans (vs an unsecured loan) because there is less of a risk to them.
Unsecured loans
No additional security (e.g. your car or property) is provided against the loan. Instead the lender will rely on your credit score when they decide whether or not to approve you for the loan. Interest rates can be higher than a secured loan and you might not be able to borrow as much
Fixed rate
Your interest rate and repayments will stay the same during the fixed term of your car loan. This can make budgeting easier as you know exactly how much you need to repay each month. However, you might not be able to make extra repayments or pay off your loan early without incurring a fee.
Novated lease
A novated lease is one of the easiest and most cost-effective ways to buy and own a car. This way, the financier owns the asset, while you and your employer sign a novation agreement to share the responsibilities of the loan.
Other things to consider : Baloon Payments
What?
You choose to pay a larger sum of the loan value at the end of the loan term. The sum you pay is usually based on a fixed percentage of the total loan value.
Why?
Reduce your repayments when you first start paying off the loan.Consider how this will affect the amount of interest you pay over the life of the loan and the total amount that is left to pay at the end of your monthly repayment term. The remaining sum will need to be paid in full in one lump sum.
How do I know if this is right for me?
We can help you understand whether this approach suits your needs and run through the considerations and benefits in more detail. Get in touch.
The loan process.
- Start the Conversation
Let us know your car purchase plans and financing needs.
Begin by sharing details about the type of vehicle you wish to purchase and your financial goals. We’ll arrange a consultation to discuss tailored car loan options and answer any initial questions.
- Loan Options Review
We shortlist car loan products from leading lenders based on your needs.
We research a wide panel of banks and lenders to present a shortlist of car loan products suited to your preferences, repayment capacity, and vehicle type—new or used, dealership or private sale.
- Pre-Approval
Secure a pre-approval so you know your borrowing limit.
Once you select a lender, we’ll lodge your application for pre-approval. This gives you clarity on your budget and lets you shop for a car with confidence, knowing what you can afford.
- Choose Your Car
Browse vehicles and select the one that meets your needs.
With pre-approval in place, it’s time to choose your new or used car. Once you’ve found the right vehicle, we’ll help with the purchase details and ensure the financing aligns with the seller’s terms.
- Finalise the Loan
We manage the paperwork and lender coordination.
We’ll handle all paperwork, communicate with your lender, and ensure a smooth settlement process. You’ll be kept informed every step of the way until your car loan is fully approved.
- Drive Away
Your loan is settled and your vehicle is ready to go.
Once the loan settles, payment is made to the seller, and you can take ownership of your new car. Enjoy the drive knowing your finance was handled smoothly and professionally.
- Ongoing Support
We’re here for future upgrades or refinancing needs.
Whether you’re upgrading your vehicle, refinancing your existing loan, or purchasing a second car, we’re here to assist. Reach out anytime for personalised support and guidance.
Range of financial calculators
Check out our range of financial calculators below. Please contact us for more information and discuss your options tailored to your personal circumstances.
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Exceptional Service! Abbas provided outstanding support throughout the mortgage process. He was knowledgeable, professional, and patient, simplifying complex terms and finding the fit rates. Always responsive and quick to answer questions, Abbas ensured everything went smoothly. Highly recommend him as a reliable mortgage broker!
3 months ago
Highly recommend Priyank! From the start, he made us feel confident and supported through the home-buying process. He understood our needs, was always available for questions, and used his market expertise to help us find our perfect home with a great interest rate. His guidance made everything smooth and stress-free. Grateful for his help!
3 months ago
Abbas has been absolutely fantastic. I have known him since 2018, and the information he provides is transparent and informative, which allows me to make better decisions according to my circumstances. He is the best mortgage broker in Melbourne. Thank you for your help and support.
4 months ago
I have worked with both Abbas and Priyank. Most recently with Abbas. They both have delivered high levels of professionalism and customer satisfaction. Highly knowledgeable in the field and will work with you to ensure you get the best deal. I most defiantly recommend this service to anyone who’s looking for a trustworthy broker
6 months ago
Amazing and smooth experience with Priyank. Excellent knowledge about the market and really amazing outreach to get you in touch with the right people to get the job done. Really great communication, kept us in the loop through the entire process. Highly recommend him.
7 months ago
Abbas's expertise and dedication were evident from the start, as he guided me through the entire process with ease and professionalism. Attention to detail and proactive approach ensured a swift and smooth approval, far exceeding my expectations. I highly recommend Abbas to anyone seeking efficient and reliable assistance with their financial needs.
4 months ago
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