Car loans
Avoid the speed bumps and let our brokers find the car loan right for you, and your new ride.
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The process
From saying hello, to new seat covers, six steps is all it takes for you to get on the road.
Get in touch to discuss your current financial situation and goals, in person or online.
We’ll compare a long list of loan providers and create a shortlist that’s sure to suit you.
Once you’ve chosen a lender, we'll get you pre-approved so you know your borrowing capacity.
With pre-approval under your belt, you can finally start looking for your new ride. To take the hassle out of the hunt, we can also set you up with simple to use car buying services.
Once you’ve given your new ride a test drive and have decided on your new set of wheels, we’ll work to secure finance from your lender.
Now, all you need to do is make an offer. If all is well and good, simply pick up the key and drive away (into the sunset, of course).
Understanding loan types and features
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.
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.
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.
Other things to consider: Balloon payments.
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.
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.
FAQs for first home buyers
We’ve got your questions covered.
What can I use a personal loan for?
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Do I need pre-approval for a personal loan?
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