Car Loans
Looking for a car loan? Contact Inovayt today
Car Loans
Looking for a car loan? Contact Inovayt today
- Personal
- Business
Financing your new car.
Financing your new car.
Secured Car Loan
Unsecured Car Loan
An unsecured loan also commonly referred to as a personal loan means that there is no collateral against the loan, and the loan will be solely based off your credit worthiness. As the risk is higher for the lender, the interest rates and terms will be less favourable than a secured loan.
Financing your new business assets.
Looking for new machinery or vehicles for your business? The Inovayt Asset financing team specialise in finding you a tailormade solutions, that allow you to capitalise on the benefits that new assets bring sooner.
Financing your new business assets.
Looking for new machinery or vehicles for your business? The Inovayt Asset financing team specialise in finding you a tailormade solutions, that allow you to capitalise on the benefits that new assets bring sooner.
How can Inovayt help me get a car loan for my business?
Our expert team of car loan specialists will work with you to understand each aspect of your business, including structure, cash flow requirements and financial goals. The Inovayt team will search through a range of products and lenders to find the best solution.
Chattel mortgage
Low doc loan
A low doc or self-declaration car loan is, for all intents and purposes, functionally the same as a standard full doc commercial product. The only difference is the criteria businesses are required to meet to qualify for a low-doc loan.
These criteria typically revolve around the length of ABN and GST registration as well as property ownership. Not every business will qualify for a low doc loan, as lenders tend only to fast-track them to strong, established companies.
Novated Lease
Helpful resources
Car Loan Calculator
Our car loan calculator can help you get an understanding of your finance options before going ahead with your purchase.
Frequently Asked Questions
A balloon payment is a lump sum of money owed to the lender. It generally falls at the end of your loan period. While this may not sound like the best idea, it can aid the borrower in decreasing their monthly repayments throughout the loan. This can be negotiated with your lender.
A balloon payment differs from lender to lender. Generally, the maximum balloon payment lenders can cap at is 50 per cent of the total loan amount. This means if you have a 50 per cent balloon on a $30,000 car loan, you will pay a balloon payment of $15,000 at the end of your loan.
There are many factors to consider when deciding what loan term you should go for. Lenders will allow you to have a loan term between one and seven years for any asset finance. Keep in mind that the longer the loan, the more interest you’ll pay.
The main aspects of a car loan and novated lease are:
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- Â Both have regular repayments.
- Â Both have the chance to include a balloon amount at the end of the loan.
- Â A novated lease is a three-way deal between you, the lender, and your employer.
- Â With a car loan, you own the vehicle from day one.
- Â With a novated lease, you own the vehicle when the term ends, and you pay the balloon.
·  A car loan is paid with after-tax earnings and a novated lease from pre or post-tax pay.
Find a Inovayt Asset Broker near you
- Melbourne
- Brisbane
- Sunshine Coast
- Central Coast
- Hunter Valley
- Lake Macquarie
- Nelson Bay
Our experienced and friendly team can provide you with lifetime financial solutions by understanding your individual needs and goals.
1300 354 355
Start your journey, contact Inovayt today
1300 354 355
Send us an email
info@inovayt.com.au