FAQs

Where accessories for a vehicle are included on the dealer invoice for the vehicle, they can typically be included in the funding.

Both online and phone credit applications should result in the same offer being made by a lender. Individual lender online systems may vary.

The balloon amount approved would be subject to individual lender assessment of the applicant and the vehicle’s projected resale value.

Where the interest rate on a prestige vehicle loan is fixed, the repayments will not change over the fixed loan term.

New vehicle funding options are typically arranged with a fixed interest rate. Unsecured personal loans may be at a fixed or variable rate.

Yes. Applications for prestige motor vehicle financing can be approved based on an estimated total credit amount before the specific vehicle is selected. Approval is valid for the period set by the lender.

A Secured Car Loan may be the most suitable personal credit product to fund the purchase of a Maybach. This credit product typically includes a fixed interest rate, a fixed term and fixed monthly repayments.

Lease payments on prestige vehicle funding are fully tax deductible. GST is applied to these payments and can be claimed accordingly by entities registered for GST.

Where a commercial entity has not been trading long enough to meet some bank approval criteria, usually 1-2 years, they may seek No Doc and Low Doc funding through brokers and specialist lenders.

Online vehicle lending calculators are provided to generate estimates only. These devices do not have the functionality to allow for variations in the credit profiles of users or to know the lender that will be providing the credit and hence the fees applicable. Specific quotes can be different from calculator estimates.

Chattel Mortgage and Lease are both effective forms of financing prestige vehicles. The suitability of either to a particular commercial entity will depend on the accounting method used by the business, the approach taken to the balance sheet and tax deductions.

The same lending products are available for both convertible and SUV models. For private buyers, a Secured Car Loan would best suit them, while business buyers can select from Chattel Mortgage, Hire Purchase and Lease.

The credit term approved for AMG vehicle funding is subject to individual lender guidelines and individual applicants. Terms of up to 7 years are typical in the prestige vehicle lending sector.

Approval to borrow the total purchase price of a vehicle is referred to as no deposit funding. Approval is subject to individual lender assessment of the creditworthiness of the applicant. No deposit funding can be approved for many applicants for all types of vehicles. The resale value of the vehicle may be assessed as part of the approvals process.

Lenders decide on the interest rate on motor vehicle credit based primarily on the creditworthiness including the score, of the applicant. The amount requested, which may be the price of the vehicle, may impact the rate or other aspects of the offer. The vehicle fuel system would not typically affect the rate offered.