Finance tips

20 May 2020

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If you're looking for a new car loan, you might have a few questions you want answered or just need a little more info. We've collected our most popular CarLoans.com.au blogs to give you more insights and help you get prepared for your next car finance application.

Five times you might want to consider a balloon payment

If you're thinking about taking out a car loan you've probably heard of a Balloon payment or residual value before and you might have some questions like - how do they effect car finance rates? Can you use them with a bad credit car loan? And more importantly; when should you consider using one?

No credit check car loans in Australia

If you're looking for finance with bad credit you might be looking for a no credit check car loan. This loan type has some pitfalls and could be quite costly. So what should you consider before applying?

What you need to know about 0% finance on car loans

Interest free car loans might sound like a very tempting offer or a dream come true, but are 0% finance offers really all they are cracked up to be? We look into these deals to discover potential restrictions and challenges you could face if you apply for one.

Can I get a car loan if I'm a discharged bankrupt?

You could find it difficult to obtain a car loan if you've been bankrupt, even if you've been discharged. But that doesn't mean there is no option for a second chance car loan from a bad credit car loan provider, especially if you use a broker to help you navigate the application process.

Purchasing and financing cars from a private sale

If you're looking to get your next car for the best possible price there is a good chance you'll be looking at purchasing a used car from a private seller. But how can you get a car loan for these vehicles? What is the process and could a broker help you get your finance sorted quickly?

Car loans for non-residents working in Australia

You might find it hard to get a car loan if you're not a permanent resident of Australia, but thankfully not all financiers have the same policy and some could be willing to finance a car provided you're able to meet their criteria and the term is shorter than your visa duration.

What are the restrictions on cars that can be financed

Some car buyers are unsure about the rules around financing a car, and are unaware that you can often finance a larger range of cars, from a larger range of sellers, than just brand new cars through a main dealer. We explore the most common vehicle restrictions that our financiers have.

Am I able to pay out my loan early?

Provided you have a consumer car loan in Australia your lender will have to set out the terms for paying out your loan earlier than your contracted end date in your loan contracts. Including detailing any potential exit fees or penalties that could apply.

How do I use my car allowance to finance a car?

Many employers are providing their employee's with a Car Allowance instead of a company car these days, but how do you actually use it to get a car? Does it come with any benefits or bonuses? Does it make approval easier?

Should I use a finance broker for my first car loan?

If you're applying for your first car loan you might find it a little bit stressful, from the paperwork to all the finance jargon, it could be good to have someone experienced to guide you through the process. A car loan broker could also help you compare car loan rates across a range of financiers on one call.

How does a Chattel Mortgage differ from a normal car loan?

A Chattel Mortgage is a business use loan with some important differences between it and a consumer car loan. To apply for a Chattel Mortgage car loan your vehicle will need to be predominantly for business use and you'll need an ABN, but they could come with a better car loan interest rate.

Fixed rate car loans vs. Variable rate car loans

Most car loans in Australia are fixed rate car loans, but a few financiers do offer variable rate car loans. A fixed rate loan will give you a set repayment amount over the life of your loan. While a variable rate loan could see you saving money if rates drop, you could also end up paying more if they increase.

Five tips for a smooth car loan application

Nobody wants any hassles when they're applying for finance, and you really don't want to make a mistake or rush into taking on a loan. So make sure you keep these five things in mind before you sign on the dotted line, taking a bit more time could even help you get a better car loan interest rate.

Five ways to secure finance with bad credit

If you've had defaults in the past, declared bankruptcy or other credit difficulties you might find it hard to get car finance, but there may be other ways to get a second chance car loan. These five tips could help put you in the best position to find a bad credit car loan that suits your needs.

What is a low-doc car loan?

If you're a business owner looking for a simple and fast car loan application you might be looking for a low-doc or self-declaration car loan. This means you don't have to provide as detailed financial information about your business to get the car finance your business needs.

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