How to Pay Off a Car Loan Faster
A car loan can feel like a never-ending financial commitment. By the time you pay it off, your car is due for an upgrade – and a new loan! But what if you could shave months or even years off your car loan repayment term? In this article, we will discuss your options to pay […]
How Car Loans Work: Complete Guide to Auto Finance
A car is often one of the largest purchases someone will make in their lifetime. The upfront cost can be tens of thousands of dollars is unattainable for most in terms of cash savings. By taking out a car loan you can access the car of your dreams and spread out the cost over a […]
How Old Do You Have to Be to Get a Car Loan in Australia?
In Australia, there is a small window of time when you are old enough to drive independently with a provisional license, but not old enough to get a car loan. So unless you have generous parents who are prepared to buy you some wheels (and let’s face it, it will still be an old bomb) […]
Can You Get a Car Loan After Buying a House
Buying a house requires most people to take on the largest debt they will ever have to repay. It also requires lots of saving and paying down debt just to get approved! Once that is taken care of you now have the freedom to take on additional loans without the consequence of preventing home ownership. […]
What is Car Loan Pre-Approval
A car loan pre-approval is provided by a lender who has already assessed your financial situation and is generally willing to provide auto finance. However, they do not yet know what car you plan to buy and are unable to complete a contract offering you the loan. Instead, a letter of conditional approval is provided […]
Can I Get a Car Loan with only Casual Employment?
More than 20% of the Australian workforce is casually employed. This can often mean fluctuating work hours and no personal leave entitlements. Both can make take-home income hard to predict and make it more difficult to get a car loan. There are plenty of lenders who lend to those with casual income but there will […]
Can I Get a Car Loan with Bad Credit?
You can get a car loan with bad credit if you can demonstrate other positive financial behaviours that would suggest that you are a better credit risk than your credit file may indicate. There are a number of non-bank lenders that specialise in bad credit car loans. However, they do not lend to everyone! In […]
How Long Does it Take for a Car Loan to be Approved?
The approval time for a car loan depends heavily on how suitable your application is for that specific lender, and how complete your application is. If your application is outside of a bank’s credit policy they may be slower to give you an answer which could ultimately be a rejection. Whereas with another lender you […]
Can You Get a Car Loan on Centrelink Benefits?
If you are receiving Centrelink income your options for financing a new car will be limited, but it is definitely possible. There will be stricter credit criteria to satisfy and your household budget must be watertight. In this article, we will discuss how to present your loan application to give you the best chance at […]
Can I Get a Car Loan if I Just Started a New Job?
In most circumstances, you can get a car loan even if you have recently started a new job. The minimum tenure requirements will differ depending on whether you are a full-time employee, casual, or run your own business. Demonstrating stability of income in the past and predictability of future income is one of the main […]