A car loan broker who benchmarks the dealer offer.
Consumer loan, chattel mortgage, novated lease. Three different products, three different tax outcomes. We compare them properly before you sign.
Six things to settle before you sign.
The right product depends on how the car is used and who's buying it. Get this part right and the rate looks after itself. Same logic that runs through the rest of the broking service: policy fit, then price.
Consumer car loan
Personal name, secured by the vehicle. Standard option for buying privately or from a dealer when the car is not for business use.
Chattel mortgage
Business name, secured by the vehicle. GST claimable on the purchase price up to the depreciation cost limit. Interest and depreciation deductible.
Novated lease
Salary-packaged through your employer. Often paired with running costs (fuel, rego, servicing) deducted pre-tax. Suits employees with stable employment.
New vs used
New cars price sharper at most lenders. Used cars are fine up to typical age caps (often 12 to 15 years at end of term). Demonstrators sit in between.
Balloon payments
A residual value at the end of term. Lowers monthly repayments, leaves a lump sum to refinance, pay out, or trade in. Watch the total cost.
Term and rate
Typical terms are 3 to 7 years. Rate depends on credit profile, vehicle age, and product type. Comparison rate is the figure that matters.
Product comparison, in plain English.
Most car finance is one of three products. Here's the practical difference. If the car is part of a wider debt consolidation move, a personal loan or a refinance of the home loan can sometimes be the cleaner option.
- 01Consumer loan
Personal name. Standard option for a family car or private use. No GST claim, no business benefit.
- 02Chattel mortgage
Business name. GST on the purchase claimable in the next BAS. Interest deductible, depreciation deductible.
- 03Novated lease
Through your employer's payroll. Vehicle costs paid pre-tax. Suits employees who'll stay with the employer for the term.
- 04Operating lease
Less common for private buyers. The leasing company keeps the asset, you return it at term end. Often used by fleets.
Typical numbers.
- Loan term
- 3 to 7 years
- Vehicle age
- Usually up to 12 to 15 years at end of term
- Deposit
- Optional, 0% to 20% common
- Balloon
- 0% to 40% residual, depending on term
- Settlement time
- Often same week as application
- Fees
- Disclosed upfront, lender-paid brokerage
How car finance works.
Chattel mortgage suits sole traders and companies who use the car for business. Novated lease suits employees with stable income and an employer who offers salary packaging. We run both numbers when the call is genuinely close.
Yes. Most lenders fund cars up to 12 to 15 years old at the end of term. Older or specialist vehicles need a specialist lender. Private sales are usually fine, the lender pays the seller directly at settlement.
Car loan rates sit above home loan rates because the security depreciates. Strong credit profile, new car, secured loan typically prices best. Used cars and unsecured options sit higher. We quote on comparison rate, not just the headline.
Sometimes it's sharp, often it's not. The dealer earns on the finance too. We can compare your dealer offer against the panel in a single call, then you decide on the maths.
Two recent payslips (or two years of tax returns if self-employed), three months of statements, ID, and the vehicle details. For a chattel mortgage we also need ABN and business financials.
Brokerage is paid by the lender. There's no fee to the client for a standard car loan. Any exception is disclosed upfront. See the Credit Guide.
Don't sign the dealer's first offer.
A 20-minute call benchmarks the dealer offer against the panel. Free, no paperwork to start.