Personal Use – Consumer Loan
Ownership of the vehicle at the time of purchase is a key factor in determining a consumer loan for personal using the car as security for the loan. The customer purchasing the car then has the option to repay the loan at any stage of the contractual period by trading the car in and starting the process again on a new car, or by refinancing the loan or in simply paying the loan out with their own funds. So, if the contract reaches its full term, is repaid or refinanced , the lender will then release the security giving the customer full ownership of the car.
Consumer Loans are where the financier provides the funds to purchase a new or used car (less any trade in or deposit) and in some cases, offer a balloon payment to keep the repayment amount as low as possible. The Balloon (or end debt ) is usually kept to a figure that the car with be worth at the end of the contractual period . In other words, if you take a 5 year loan, the balloon payment will be slightly less than what the car is worth after 5 years.
A consumer loan is usually offered for customers with clean credit histories, minor blemishes on their personal credit files and in some cases a impaired credit history using a custom option at a slighhtly higher interest rate. They will usually be PAYG income earner’s or self-employed for 2 years or more and are either home owners or are in a strong asset position
It can be real easy to find the car you want but finding the best deal on car finance can be both frustrating and time consuming. There are a few online companies offering fast an efficient services, yet they don’t always give you a time frame. We have access to a range of consumer car loan products and we can talk to the people making the decisions.
If you are able to provide the necessary documentation at the time of the loan interview process, we can in some instances arrange the finance and have the funds available the same day.
We aim to make car loans quick and hassle free – so check out some of the features below and give us a call (or email ) us now!
Features
Maximum loan 100,000
Minimum loan 5,000
Maximum term 7 years
Minimum term 2 years
Repayments – Weekly, fortnightly, Monthly
Balloon paymnets, younger drivers and flexible payments options are just some of the other features avalibale in a consumer car loan product.
Contact us for a quote
A Personal use loan offers the most rewarding loan interest rate on purchases of up to $100,000 with a number of flexible repayment options available to borrowers. Refer to our page on flexible repayments options to see what savings you may be able to achieve.
We aim for a super quick loan settlement, so make sure you have all the documents required on hand so we can get to work. Call us now !
Calculators
Check your repayments to see how much you can afford each week. This will give an indication of the type of loan amount you may be able to arrange. Give us a call now !