AFS car loans

Founded in 1988, AFS  is a well established and respected lender. It has strong funding support from Westpac Institutional Bank.

As well as financing cars, AFS lends for boats, bikes, caravans, camper trailers and horse floats.

AFS also provides loans and leasing for small-to-medium businesses for vans, trucks and light commercial vehicles.

As well as loans, it can offer a novated car lease for people who want to finance their car as part of their salary package.
The services offered by AFS to help you buy a car include:

Secured Personal Loan

This is the most common way to finance the acquisition of a new or used car, bike, boat or caravan.

With a secured personal loan, the car being purchased is used as security for the loan. You own the asset from the beginning of the loan contract. When you make the final payment, AFS will remove its security interest over the asset and you get clear title. AFS offers consumer loan terms ranging from 12 to 60 months and the interest rate is fixed.

Business Loan

A Business Car Loan, often called a Chattel Mortgage, is just like a personal loan but made to a business.

With an AFS Business Loan, your business buys the vehicle (the chattel) and AFS takes a mortgage over the goods as security. Once the loan is paid out, the mortgage is removed giving your business clear title to the vehicle.

Commercial Hire Purchase

Under this arrangement, AFS agrees to purchase a vehicle for your business. Your business then contracts to hire the vehicle for a fixed period, at the end of which, the business owns the vehicle. Until you have paid all the hire charges, AFS still owns the vehicle.

Finance Lease

AFS also offers finance leases, which give your business the use of a car or commercial vehicle for an agreed period of time in return for regular lease payments. These lease payments are usually tax deductable. At the end of the lease you can either pay the final instalment on the lease to take ownership of the car, trade it in or re-finance the residual and continue the lease.

Novated Lease

AFS offers novated leases that are specifically designed for financing a motor vehicle as part of a salary package. With a novated lease, you get to use the vehicle and pay for it from pre-tax salary.