FAQs

Insurance is required on goods under finance. Where a vehicle is not used as collateral for a loan, buyers may not be required to cover the vehicle with insurance.

Car buyers can choose between a Secured Car Loan and an Unsecured Personal Loan to finance vehicles. Features and benefits of each should be considered to determine which presents the best option for the individual buyer requirements.

Interest rates on secured car loans are typically lower than on personal loans.

Where a used car is accepted as suitable collateral, buyers may obtain a Secured Car Loan to finance the purchase.

Buyers can use an online car finance calculator to work up estimates to compare car loan options.

Where a lender does not accept a car as suitable collateral for a secured loan, buyers may consider an Unsecured Personal Loan.

By definition, no collateral is required for an unsecured loan. Some lenders may request some applicants provide some form of security possibly with a personal guarantee.

Yes. Where a buyer does not choose to offer the vehicle as collateral or where it is not accepted as collateral, an unsecured personal loan may be considered to finance the vehicle purchase.

Most types of vehicles purchased for private use can be financed with a Secured Car Loan. This includes SUVs, utes, wagons, sedans, EVs, sports cars and other body types. The vehicle must be accepted as security by the lender.

Some lenders offer special features on loans for EVs, subject to individual criteria. These offers may not be available on personal loans.