Car Finance Made Easy 🚗

Having a reliable vehicle is essential for life in Australia. Whether you're looking for a new or used car, a work vehicle, or a minivan, LoansOne offers the best car loans to cover your financial commitments. With our car loans, you can purchase your dream vehicle without depleting your savings.

How Does the Car Funding Process Work?

  1. Application: Choose your car and apply with LoansOne, providing your personal and financial details. Secured loans also require car information.
  2. Loan Approval: After document verification, LoansOne approves your loan within 7 days, with pre-approval available in 24 hours.
  3. Funds Approval: Use the approved funds to buy a car. For secured loans, LoansOne can pay the seller directly; for unsecured loans, funds can be arranged by you.

Types of Car Funding Available

  • Unsecured Car Loans: No collateral required.
  • Secured Car Loans: The car serves as security.
  • Chattel Mortgage: Car funding for business purposes.
  • Operating Lease: Lease a vehicle for a specific term.
  • New Car Loans: Finance vehicles less than two years old.
  • Used Car Loans: Finance vehicles over two years old.

Advantages of Car Loans

  • Access vehicles you might not otherwise afford.
  • Lower interest rates compared to other loan types.
  • Flexible repayment terms of up to 5 years.

Things to Consider Before Applying for a Car Loan

  • Repayment Affordability: Calculate how much you can comfortably repay based on your income and expenses.
  • Loan Terms: Choose a term that balances manageable payments and total interest costs.
  • Additional Costs: Factor in insurance, fuel, servicing, and maintenance expenses, which can increase with the age of the vehicle.

Documents Needed for Car Loan Applications

  • Driver's license, passport, or birth certificate
  • Medicare card
  • Two recent payslips
  • Last two years of tax returns (self-employed)
  • Notice of assessment (self-employed)
  • Employer contact details
  • Asset and liabilities statement
  • Details of other loans or overdrafts
  • Vehicle information (make, model, year, VIN, engine number)
  • Estimated purchase price

Eligibility Criteria

  • Be at least 18 years old
  • Be currently employed
  • Be a permanent Australian resident or NZ citizen
  • Demonstrate a reasonable credit history
  • Be free from bankruptcy for the past 7 years

Frequently Asked Questions

Can I apply for a car loan if I am self-employed?

Yes, LoansOne offers car loans for self-employed individuals.

What is the minimum age for applying for a car loan?

You must be at least 18 years old to apply.

Can I apply for more than one car loan with you at the same time?

Yes, as long as you meet the eligibility criteria for each loan.

What documents are needed for a car loan?

Documents include proof of identity, income, and vehicle details, as well as an asset and liabilities statement.

How much can I borrow with a car loan and for how long?

Loan amounts and terms vary based on your financial profile and vehicle type. Contact LoansOne for more details.

What fees are involved with a car loan?

Fees depend on the loan terms. Contact LoansOne for a detailed breakdown.

Ready to Drive Your Dream Car?

Apply now for a LoansOne car loan and get on the road with ease.

Apply Now