Car Loans – Private purchase

Looking to buy a car? loans for vehicles can help ease the financial strain of outright purchase with cash. The majority of car loans are secured by the actual vehicle. Car loans for private use where ownership is important can be structured flexibly as follows:

• No upfront deposit may be required and the whole loan structured with principal and interest repayments;
• A deposit upfront and the remainder on a principal and interest structure;
• A lump sum payment at the end of the loan term is may also be available on the above two options in some cases to help borrowers meet shorter term cash flow constraints.

Under these options once you have paid the first installment of the loan, the ownership of the vehicle will be transferred in to the your name.

In the case of used vehicles, lenders generally prefer to deal with vehicles that are less than 10 years old.

Application Process

Documents Needed:

• Originals of the applicants two most recent consecutive wage/salary slips;
• The applicants original tax assessment notice for the last financial year, or this years group certificate;
• The applicants original personal bank statement showing regular income received / deposited;
• A certified accountants letter stating net salary income after tax (if the applicant is self employed);
• A quotation for the purchase of the vehicle.

Standard Capital consultants are available at any time for a consultation, so please feel free to call us on (03) 9670 1770.