Different motor vehicle lending facilities are available for private and commercial buyers. Criteria for approval can also vary with different lenders. These criteria may determine approval for the credit amount required, the preferred term and the interest rate. Your Jade broker will be sourcing the lender that best fits your profile, but buyers can benefit from being across the basic requirements.
Funding for private vehicles comes under the consumer credit sector and is regulated by ASIC. Applicants must be over 18 years of age to be eligible to take on credit. ASIC also sets out the lender guidelines for the information they must collect and assess from applicants.
The commercial vehicle lending sector is not regulated in the same way as consumer credit, but applicants must be a commercial entity with an ABN. The same types of credit facilities are available across the market – Chattel Mortgage, Hire Purchase and Leasing.
Eligibility or suitability of a credit facility to a specific enterprise will depend on the method of accounting used and the approach adopted by the enterprise to tax deductions and their balance sheet. Your broker can explain these differences and source the most tax-effective option.
While the facilities are similar across the market, the criteria for approval vary with different lenders. This is particularly noticeable for new and smaller business entities. Some lenders do not approve credit applications for entities that do not have full financials and/or have not traded for a minimum of 1-2 years.
We assist new and start-up enterprises with access to cost-effective Audi financing on a Low Doc and No Doc basis through our specialist lenders. To check your eligibility or discuss the best credit facility to fund your Audi, have a no-obligation conversation with one of our brokers.
- Individually sourced Personal Audi Car Loans.
- Cost-effective commercial vehicle financing.
- Low Doc Audi commercial funding solutions.