Secured Car Finance
A secured car loan is a typical consumer car loan, which is used by an individual to purchase a motor vehicle for private use. The finance provider will take an interest in the vehicle by using the vehicle as security for the loan. Interest rates are fixed for the life of term, which will give you a fixed monthly repayment. The facility falls under the consumer credit code (UCCC) where the interest rate, commission and other fees are disclosed on the contract. All consumer credit conditions apply to this type of car loan.
A secured car loan is for an individual who wishes to finance a motor vehicle for private use. The finance provider funds full or part of the purchase price of the motor vehicle. This finance generally allocates for the individuals car insurance premium, dealer on-road costs as well as transfer fees to be incorporated into the consumer loan.
Benefits of a Secured Car loan?
Vehicle is used as security to help keep rates low
Borrow from $3000 to as much as $80,000
Flexible repayment terms from 1 to 7 years
Choose to pay for the loan weekly, fortnightly or monthly
A tax deduction is available when the vehicle is used for business purposes
Who suits a Secured Car loan?
A Secured car loan will suit an individual who wants to purchase a vehicle that will mainly be used for private use rather than business use.
Tax Implications:
As a secured car loan is a personal finance product, only standard tax deductions apply such as depreciation and running costs. (This is calculated on a pro-rata basis according to the percentage of business use)
Why choose Quantum?
Quantum finance solutions is a company that “will work for you” from start to finish in order to provide you with the best possible solution. We guarantee the best rates and lowest repayments on the market and you can feel comfortable knowing that you are dealing with an expert in the field of car finance.
Need further information?
If you require further Secured Car Loan assistants, either call 1300 974 066 to speak with an experienced car finance consultant or complete a quick enquiry form
What is the best car finance solution for you?
At Quantum Finance Solutions we have a diverse list of car finance products for you to choose from. Whether it is a Hire purchase, Chattel mortgage, Car lease, Novated lease, Secured car loan, Unsecured car loan, Low-doc loan, No –doc loan or Start- up application; we have the right solution for you.
To work out which solution best suits you please either call 1300 974 066 to speak with an experienced car finance consultant or complete a quick enquiry form
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