Capital Finance car loan interest rates will vary depending on the credit rating strength of the applicant. Capital Finance car loans are mostly for vehicles purchased through franchised dealerships. (e.g. Manufacturer dealerships such as Mitsubishi, Toyota, Holden, etc) and in most cases will not finance vehicles from non-franchised used car dealerships, auctions or private sales, but on rare occasions they may finance through a non-franchised dealer if that dealer has an existing relationship with Capital Finance.

They are restrictive on the age of the vehicle being no older than 5 years of age; however they are flexible on loan terms up to 7 years. They have available business and personal use loans, with also options of balloon payments on loans up to 5 year terms.

The way that Capital Finance interest rates are determined and applied to the loan is much simpler than some of the other lenders in the market, which can definitely make Capital Finance are more competitive cheaper option in certain cases, especially for those that may not be asset rich, or have limited credit history where they would be penalised for this with higher interest rates with some other lenders.

Capital Finance rates are predicated on the age of the vehicle rather than forming a customer risk profile.

Capital Finance may have better flexibility when it comes to employment history, where some lenders may have strict guidelines to applicants current and previous employment history where Capital Finance seem to take a more common sense approach.

Good examples of this are applicants that have started a new role and are on probationary periods, but can demonstrate continuity in the industry or a related industry, or casual employees that have been in their current role for less than 12 months, but have substantial experience within the same industry. Capital Finance will review this where common sense prevails, where other lenders will advise that it “falls outside their lending criteria” and the other lenders may only approve the loan if the applicant has substantial assets, or extensive banking or borrowing history with that lender.

The good thing about Capital Finance is that they are very focussed on this part of their business and have plenty of understanding and knowledge about the automotive industry. They deal direct with clients, also through introducers such as dealerships, finance brokers and commercial brokers and are also involved in car dealership floor plan funding, which means they need to understand the industry to keep their business partners.

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