Car Loan Calculator is a Car-Finance.com.au website and is a great resource for someone looking at the exciting time in their life to get a new car!
Car finance is such a broad term and relates to so many different possible options. Nobody is the same so neither should be there finance! Don’t go to your bank and get an off the shelf car loan, speak to one of the brokers we have on our panel and get more information or get a quote today!
What options do you have? The three main options are:
A consumer loan is basically a car loan for a car or vehicle that is going to be used predominately for personal use. Interest rates range as do the various fee’s and charges. One big different of a consumer loan is that it is a regulated product and must abide by the NCCP (National Consumer Credit Protection Act). That means there is a lot more protection and structure because it is a consumer product and not for business use. To read more on the NCCP click here.
A chattel mortgage is essential a business loan. What determines this is usually the use of the vehicle. If you aren’t sure what to do, it is best to speak to your accountant. For more information have a look at our Chattel Mortgage page.
A novated lease is a tax effective way to finance their next vehicle. It involves a 3 way agreement between, employee, employer and the finance company. The employer deducts the payment from the employees payroll which is then used to cover their finance lease repayment and also can be used to cover the running costs and fuel for your vehicle! It is available for PAYG employee’s of business across Australia. If you think it may be for you, get in contact with us today.