Is it a fixed rate for the term?
Our New Car Loan (New or demo cars) is a variable rate product which allows for greater features and benefits on your loan such as a redraw facility and early payout without penalty, however the rate will not vary during your loan term giving you security in your repayment amount.
What is the maximum loan term?
You can choose a maximum loan term of up to 7 years.
Can I pay in advance?
Yes. Just when you thought our New Car Loan (New or demo cars) couldn’t get any better, you won’t be penalised for making extra payments and paying off your New Car Loan (New or demo cars) early.
Is there a minimum deposit?
No. In fact, there is no deposit required at all. When we bragged that our New Car Loan (New or demo cars) has flexibility and affordability we meant it.
What are the fees, including payout?
There is no penalties for paying out your New Car Loan (new or demo cars) early. The fees for the New Car Loan (New or demo cars) include an establishment fee, document fees and a loan maintenance fee of $5.00 per month. Speak with a lending specialist today to find out the details based on your loan amount.
I’m aware that there might be a long delay with the delivery of my new car from the dealership. How will this impact my loan?
Your New Car Loan (New or demo) must be settled, and funds disbursed to the dealership within 90 days of receiving loan approval. We understand however that COVID-19 has put pressure on manufacturers causing delays and this might be outside of your control. If your dealer has advised that delivery won't be possible within 90 days, please talk to our friendly team about your options.