A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Types of car Loans

Chattel Mortgage
Chattel Mortgage

Are you a business owner?A chattel mortgage may give you significant financial advantages over taking out a consumer car loan. If you are looking to buy a vehicle used primarily for business (50% or more) a chattel mortgage may be your best option.

source: savvy.com.au
Commercial Hire Purchase
Commercial Hire Purchase

Well, Aussie Car Loans is hosting the battle of the century for you – lease vs hire purchase. Lets size up the lease… In a Finance Lease, the financier keeps the title and loans the asset to a borrower for an agreed term and rental amount.

Finance Lease
Finance Lease

Finance or lease a car only when you can afford to take on a new payment. Saving for a down payment or trading in a car can reduce the amount you need to finance or lease, which then lowers your financing or leasing costs.

Novated Lease
Novated Lease

A novated lease is a form of salary packaging that can benefit both the borrower and the borrower’s employer. When you take out a novated lease, you are making an agreement with both the lender and your employer – unlike a standard car loan where the agreement is only between you and the lender.

Operating Lease
Operating Lease

Operating Lease An Operating Lease is set up in the same way as a Finance Lease, but the Lessee (borrower) does not take on the obligation of the Residual Value and hands the vehicle back to the Lessor (financier) at the end of the term, rather than looking for options to payout or refinance the Residual.

Standard Loan
Standard Loan

Edmunds data tells the story: Since 2002, the average car loan term has slowly crept past five years, and is now inching past six-and-a-half years. In 2014, 62 percent of the auto loans were for terms over 60 months.

source: edmunds.com