car loans

Car Loans


Several type of car loans are available when purchasing a car. The same applies for trucks, motorcycles, boats, equipment, tools and machinery

Standard Car Loan

This type of car loans are finance products where the vehicle acts as security against the loan. Often, a full comprehensive insurance is taken out on the vehicle before the loan is approved. This type of loan offers lower interest rates as finance is secured against the vehicle. Car loans interest rate is fixed.

Commercial Hire Purchase


Commercial Hire Purchase is available to businesses and individuals where the finance company purchase the car and then hire it back to them over a set period of time. Regular monthly payments are required until the end of the term. Ownership of the car remains with the finance company until the end of the term. Comparing to standard car loans this type of arrangement offers minimal capital outlay, fixed repayments and no GST on repayments.

Finance Lease


A finance lease is an option whereby the finance company purchases the a car and then leases it to you. This provides immediate use of the car with a minimum capital outlay. This product is available to individuals as well if the car is used for business purposes.

You are responsible for monthly rental payments and for the running costs At the end of the lease term you have an the option to refinance, return, sell or purchase the car using regular car loans.
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