A Car Loan is a finance product where the financier lends
the client the money to purchase a car and this loan is then
secured against the car. Generally, a secured loan, will
offer a lower interest rate than an unsecured personal loan.
This is because the vehicle itself becomes security for the
loan – reducing the risk associated with it. A deposit may
not be required. However a client can choose to pay a
deposit to benefit from lower repayments or a shorter loan
term. The interest rates & repayments are fixed for the term
of the loan.
Want to know more?
Call us on (03) 9888 9292 and we will be happy to discuss your options with you.