FAQs

PPSR is the Personal Property Security Register. It holds the details of goods purchased with finance. Buyers of used cars can check the PPSR to ensure the vehicle does not have money owed to a lender.

Vehicles purchased from private sellers can be financed with Secured and Unsecured loans for private buyers and with Chattel Mortgage, Leasing and Hire Purchase for business buyers.

Yes. Vehicles purchased via an online marketplace may be financed, subject to lender acceptance of the suitability of the vehicle.

Interest rates on used car finance are subject to the lender assessment of the vehicle and the borrower’s application. The type of seller – private or dealer, would not influence the interest rate offer.

Personal and business loan applicants will need to complete the standard application forms, providing details on their financial position, debts and income. Information about the vehicle will also need to be provided.

Buyers purchasing from private sellers can submit their loan application prior to purchase for pre-approval. Approval and any offer is subject to the lender receiving the specific details of the vehicle including condition and age.

When buying a car from a private seller, buyers should be aware of the ownership of the vehicle and the seller’s authority to sell; if the vehicle is under finance; identification of the seller and the vehicle; ensuring the vehicle is as described; and that banking details for payments are valid.

Used vehicle financing is available through a wide range of lenders. All applications are subject to the individual guidelines of the lender.

The condition of a used vehicle, it’s value and the loan amount requested will be assessed by lenders when deciding if approval for no deposit finance is given.

Where a business purchases vehicles for the operation from a private seller, the vehicles can be financed, subject to lender approval.