A consumer loan is typically used by individuals to purchase a car where there is no business use of the vehicle and it does not form part of any salary packaging arrangement. With car loans, the car is the security against the funds borrowed to acquire the car. As the financier holds the car as security, their risk of loss is reduced, and as such a much more competitive interest rate can be offered than for standard personal loans.

 

 

 

The benefits of consumer Loan are:

Compared to adding the vehicle to an existing mortgage, a consumer car loan ensures you make regular payments over a period of 12 – 60 months, instead of spreading your vehicle repayments over the life of a home loan, for a period as long as 30 years. Avoiding this can save you many thousands of dollars and stop you paying many times the cars purchase price in interest payments.

 

Finance enquiry can be done by filling in our online insurence enquiry form | telephone, or Fax; to make a telephone enquiry call the Finance Department on 8354 9588.