Description of Product

A Consumer Loan is the product to use when purchasing a vehicle for private or domestic use.

The vehicle is used as security for the loan, however you have ownership from the beginmng of the contract. Upon the final payment you get clear title to the vehicle. A Consumer Loan is regulated under the terms of the Consumer Credit Code.

Features

• Terms range from 12 to 60 months

• Interest Rate is fixed for the term of the loan as are your repayments.

• You can pay your loan via the convenient method of Direct Debit or BPay

•  You can make a deposit to the transaction of any amount.

• Payments can be made as often as you like (ie Weekly, Fortnightly) via the Bpay method.

• Other costs associated with the purchase can be financed on the contract ( like, Comprehensive Insurance, registration and on-road costs)

• You can specify a larger final payment (known as a balloon)

Benefits

• Payments can be structured to suit you individual needs, with your budget and cashflow taken into consideration.

• With a fixed interest rate you are protected against the market fluctuations

• More frequent payments reduce your interest charges and the term of your loan.

• By financing other costs and insurance you can preserve your cash for other purposes.

• A deposit will reduce your repayments and your interest charges by reducing the amount borrowed.

• A Balloon payment has the effect of lowering your regular monthly payments and making your car more affordable.

GST

Please seek professional advice from your accountant of financial advisor regarding GST and Stamp Duty matters.