Options for car loans in Australia are varied, which can be confusing if you are looking to purchase a new car quickly. A car loan is a personal loan that is specifically for the purpose of buying a car. The car you buy is offered as security against the loan, which means that if you default on payments, the lender can recoup their costs by taking back the car.
It also means that if you want to sell the car, you need to pay out your car loan first. These types of loans can sometimes be referred to as a Consumer Loan or a Secured Car Loan.
About Car Loans
One of the best things about accessing a car loan is that the security of the car provides better interest rates, which means we can get you the best deal that meets your needs.
A car loan operates similarly to a home loan. Interest is calculated daily and if you choose to make extra payments, you will pay off your loan faster and reduce the interest charges.
Because Australian Credit and Finance has access to a number of lenders, payments can be scheduled to suit your needs. Whether you need to pay weekly, fortnightly or monthly, we can set this up for you.
The preference for most of our lenders is to set up a direct debit on your bank account, but credit card payments can also be accepted. Chat to one of our experienced team members about your options first. Call us on 1300 735 557 to discuss further.
There are many options available that can help to reduce the overall repayments you make on your car loan. These include:
- Arranging balloon payments at the end of the finance period
- Making extra payments each month
- Refinancing your loan
Benefits of an Australian Credit and Finance Car Loan
- We can arrange flexible car loan repayment terms, typically from 12-84 months
- We offer fixed interest rates and repayment options
- We offer competitive lower fees
- We offer access to lower repayment options
- We provide you with specialised products and access to a number of lenders
Types of Car Loans
We can help you with the following types of car loans:
- Bad credit car loans – if you have hit a few curve balls and ended up with a bad credit rating, we can still help you access a car loan, particularly if you can show that you’ve made steps to improve your current financial situation.
- Car leasing – if you are looking for an option that doesn’t require a lump sum payment upfront, then car leasing might be a good option for you. This is ideally suited to small business owners or companies.
- General car loans – if you have a great credit history and are ready to buy a car, this is the type of loan we can arrange for you. We’ll get you the best deal and the lowest interest rate to suit your needs.
If you need help with your car loan options, give our team a call on 1300 735 557 today. We will discuss all your options regarding car loans in Australia.