How to Get Out of a Car Loan You Cannot Afford
There are strict regulations in Australia for dealing with customers who are suffering financial hardship. Flexible solutions are available if you are suffering a temporary setback or a more permanent change to your income that places your financial commitments out of reach. But what if the financial stress is more subtle? Your expenses have been […]
What is a Chattel Mortgage Car Loan?
A chattel mortgage is most suitable for buying long-term business assets, like a car, or other types of commercial vehicles. While this type of loan is almost identical to a regular car loan in its function, it also avails a number of tax advantages that are unique to business owners. In this article, we will […]
Can You Sell a Car Under Finance in Australia?
You can sell a car under finance as long as you include the lender in the process and organise for the secured loan to be paid out as part of the sale process. There will be additional steps compared to the sale of an unencumbered vehicle, but this is limited to a few extra phone […]
Can I Get a Car Loan with Unpaid Defaults?
If you have previously defaulted on a payment obligation, your credit file could be marked wth a default listing. This will hurt our credit score and place you in a higher risk category for the duration of the default period. But did you know that a lender can also see the current status of that […]
What Are Interest Rates Like on Car Loans if You Have Bad Credit
A customer with a poor credit history is a high-risk proposition to a potential lender. If they are going to consider giving you a loan at all, it is going to be more expensive than the norm. But how expensive can they really get? Under Australian law, the cost cannot exceed 48% per annum. If […]
What Advantages Does a Low Doc Car Loan Offer Your Business
If you are self-employed or a business owner, then a low-doc loan is one of the best ways to get around the standard income documentation required when applying for a car loan. You may not have payslips or regular PAYG deposits in your bank account. So, how do you evidence that you do have an […]
How to Get a Car Loan When Self-Employed
A self-employed person may not be eligible for a regular consumer car loan in some cases and may be required to get a commercial loan. Instead of payslips to evidence income, you may have to provide tax returns, BAS statements, and possibly get accountants involved. But there is an easier path! In this article, we […]
How Your Bank Account Balance Affects Your Car Loan Application
How often do you have extra money in your account just before payday? For many people, the answer is never! A little-known fact is that some lenders pay attention to the fluctuations in your bank balance. This can provide important clues into your level of financial discipline and your capacity to take on additional debt, […]
How Gambling Transactions Affect Your Car Loan Application
Nothing will kill your car loan application faster than a high number of gambling deposits to your favourite bookie. Aussies love a punt! And as long as you gamble responsibly, your application should be unaffected. However, did you know that cash withdrawals could also be interpreted as gambling transactions? You may unknowingly be waving red […]
Why Bank Statements Matter When Applying for a Car Loan
When applying for a car loan, most people immediately think of their credit history, or credit score, as the most important factor. However, due to a combination of government regulation and more sophisticated loan assessments, there is sometimes a need to examine your bank transaction data. A lender can learn a lot about your creditworthiness […]