Car Loan or Vehicle loan is a smart way to own your car if you don’t have enough savings to buy one but can afford to pay loan repayments.
A suitable Car Loan can bring you more power to deal and bargain with the dealers and get your dream ride right away.
We help you to get fund from a range of motorised vehicles loan options– from motorbikes, car all the way through to motorboats. Whatever you’re into, we are here to find the suitable loan that’s right for you.
WHY CHOOSE FINMORTG FOR CAR FINANCE
The secret of getting a good deal is research, compare and negotiate. And here our car loan experts can help!
Our brokers have years of experience in finding and negotiating the suitable deal on car loans. We are here to work hard and serve in your best interest.
Accreditation With Many Lenders
We have access with major lenders including banks and major finance companies in Australia and helps to find the suitable car loan that suits your need.
We Work For You
We negotiate the lenders on your behalf and get you the most favorable offer and save your hard-earned money.
Quick Processing Time
Our advanced system and expert team will make your application quick and easy to get you approve car loan fast.
Free Of Charge
We provide all our services FREE OF CHARGE as we get paid a commission by the lender when you receive your car loan.
No Obligation Advice
We are happy to guide for your car loan. Talk to our car loan experts and the best part is its FREE and No Obligation.
TYPES OF CAR FINANCE
Personal Car Finance
In a car loan option, the financier lends money to purchase the vehicle you want and takes security over the vehicle. You can take ownership of the vehicle at the time of purchase. After the completion of the contract, you can have the clear title on your vehicle.
An interest is charged and is comparatively lower as the loan is secured by an interest in the vehicle being purchased.
It’s an agreement where you can hire (not own) the vehicle from the financier for a fixed monthly repayment over a set period of time. The financier will purchase the car and hire back to you.
You can take the ownership of the car at the end of the contract term when the total price of the vehicle (minus any residual) and the interest charges have been paid in full.
Some of the benefits are, flexible contract terms, fixed interest rate, costs are known in advance and so on.
Novated lease is one of the most cost and tax-effective options if you are an employer and looking for your own car. It’s a three-way agreement between you, your employer and the financier. You lease a car, your employer pays the lease repayments from your pre-tax income and the financier sets up the novated lease and manages it. If you’re not registered for GST, you can also use novated lease to purchase a new GST-free car.
Get a FREE Car Finance Consultation
Not sure which finance option is best for you? Send us your query online and we will be in touch with you shortly.
Business Car Finance
In a chattel mortgage, the business or company owns the vehicle from day one. The financier uses it as a security or the mortgage over the loan. You can have a chattel mortgage over a range of terms, and with a range of different ‘balloon’ payment options at the end of the term. The interest rate is fixed and a tax deduction is available when the vehicle is used for business purposes. If you are registered for GST, you can claim GST contained in the vehicle price as an input credit on your next BAS.
Commercial Hire Purchase
Under commercial hire purchase, a business “hires” a car from the financier for a fixed monthly repayment over a term. The business also has the option to purchase the car at the end of the term. It gives you the flexibility to select the term and the timing of repayments to suit seasonal cash flow so your finances aren’t tied up. The interest charges, fees, and depreciation may be tax deductible if the vehicle is used to generate assessable income.
It’s not a business car finance, but a business you can use novated lease to offer more value and incentive to your employees. As an employer, there will be no cost to you since its salary packaging. This means that you pay the lease repayments from the employee’s pre-tax income. The financier will set up the novated lease and manage it. Get a free car finance consultation to know more about the benefits.
Finance Lease or Car Lease
It enables the business to have the use of a car or commercial vehicle and the benefits of ownership, while the financier retains actual ownership of the vehicle. You choose the vehicle, the financier purchases on behalf of you and then lease the vehicle back to you on a fixed monthly lease rental for the term of the lease. At the end of the lease, you have the option to trade it in or refinance the residual and continue the lease or pay a residual value on the lease and take ownership of the car. Also since the finance and lease is secured against the vehicle so it allows you a lower interest rate. Talk to our expert to know more.
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