Car loans by Auscare
Auscare Home Loans can also help you buy the car or any other set of wheels you’re after. There
are a few different types of vehicle finance available in the market. Have a look to see which one
suits you best.
Novated Leasing:
If you are in a steady job, Novated Lease can be an option for you to buy a car and have the tax benefits of buying a car as a business owner. A Novated Lease is a three way agreement between an employer, employee and finance company whereby the employee enters into a car lease with the financier and the employer agrees to take on the employee's obligations under the lease. Talk to your employer to know the company’s policy on Novated Leases.
Chattel Mortgage:
A Chattel Mortgage is a secured loan that is wholly or predominantly for business use. The financier advances the funds to the borrower in order to purchase the vehicle, whilst the financier takes a mortgage. Title to the goods remains with the borrower. Under Chattel Mortgage, borrower may be entitled to claim interest paid and depreciation on the goods.
Hire Purchase:
People also refer to it as Commercial Hire Purchase. Under this loan arrangement, the customer hires the vehicle from the financier for a fixed monthly repayment over a set period of time. During that period, the customer has the use of the vehicle but is not the owner of the vehicle. At the end of the contract term when the total price of the vehicle (minus any residual) and the interest charges have been paid in full, the customer takes ownership of the car. Hence the name Hire Purchase.
Car Loan:
This is the most common of all types of vehicle finance. A Car Loan is suitable for individuals who wish to purchase a late model car and do not have significant business use of their vehicle.
How much can you borrow?
It is the first question we face before applying for loan. This calculator
tool will give you a fair indication of
your borrowing capacity so you can
plan your course of action regarding your finances.
Click here to access the How
much can I borrow
Servicing a loan is by far the most critical part of your relationship
with the lender. Find out what
your approximate monthly or fortnightly payments by using tis calculator tool.
Click here to access the Repayment Amount calculator.
How much will be the stamp duty?
The Stamp Duty charge is a significant one and you must factor
it in while planning to apply for a loan. Find out what your Stamp
Duty obligations by using this calculator tool.
Click here to access the
Stamp Duty
logo logo logo logo logo logo
Copyright © 2015-2016
Auscare Home Loans Pty. Ltd
All rights reserved