CAR LOANS
Chocolate Homeloans can also help you buy a new or used car. With access to 6 lenders, the car loan will allow you to finance the purchase of a car and use the car as security for the loan.
Frequently Asked Questions about Car Loans:
Question: |
What is the interest rate? |
Answer: |
Interest rates are fixed and will vary depending upon the amount borrowed, the age of the vehicle and the term of the loan. |
Note: To provide an accurate quote we will need to know the amount you want to borrow and the term of the loan. |
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Question: |
Should I get a car loan or a personal loan? |
Answer: |
Generally, a secured loan, like a car loan, will offer a lower interest rate than an unsecured personal loan. This is because the vehicle itself becomes security for the loan - thereby reducing the risk associated with it. |
Question: |
How do the repayments for a car loan work? |
Answer: |
As the repayments are usually fixed for the term of the car loan, this gives you the ability to budget more accurately. |
Question: |
Over what period can I take the car loan over? |
Answer: |
Car Loan periods generally range from 1 to 5 years. |
Question: |
What criteria is required to apply for a car loan? |
Answer: |
The different lenders have different rules but usually:
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Question: |
Do I need a deposit? |
Answer: |
A deposit is not required but if you pay a deposit you will benefit from either lower repayments or a shorter loan term. |
* Comparison Rate calculated on a loan amount $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only.
WARNING: This Comparison Rate applies only to the example or examples given. Different amounts and terms will result in different Comparison Rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the Comparison Rate but may influence the cost of the loan.
A Comparison Rate Schedule is available at any Chocolate Homeloans office.
Terms and conditions available on application. Fees and charges apply.
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