Question 1

What is used car finance?

Accepted Answer

Secondhand car finance enables more borrowers to get the vehicle they need and repay the purchase price via monthly instalments. At Easy, our expert brokers connect borrowers to a large network of 80+ banks and lenders offering competitive used car rates, terms, and a stress-free application process.

Question 2

Why should I finance a secondhand vehicle?

Accepted Answer

By financing a used car rather than buying it outright, borrowers are able to preserve their personal savings or valuable business cash reserves. A used car loan spreads the repayment amount over a term of 1 to 7 years, often presenting a range of tax and GST benefits. When you choose to finance with Easy, you receive a dedicated broker who will work hard to source the best possible rates and terms for your situation.

Question 3

How does secured and unsecured used car finance work?

Accepted Answer

A secured car loan uses the purchased vehicle as collateral for the loan. This loan type offers borrowers the lowest available rates, longer loan terms, and higher borrowing limits. Conversely, unsecured car loans do not involve any collateral. Due to the absence of collateral, the perceived lender risk is increased, presenting higher offered rates and shorter loan terms.

Question 4

Can I obtain preapproval for used car finance?

Accepted Answer

Yes. At Easy Car Finance, we offer simplified preapproval for borrowers eager to purchase a used car quickly from a private marketplace, auction, or car show. By obtaining preapproval, borrowers receive budget clarity and can confidently shop for the right secondhand vehicle for their situation.

Question 5

What business car loans does Easy offer?

Accepted Answer

Business owners can choose from the complete portfolio of commercial credit facilities when purchasing a secondhand vehicle. Select from Chattel Mortgage, Rent-to-Own, Commercial Hire Purchase, and used car Leasing. Each credit facility offers its own unique advantages like GST and tax benefits, and flexible repayment schedules.

Question 6

How long does it take to get approved for used car finance?

Accepted Answer

Our streamlined application and approval process can be accessed online or by phone. Submit an application with a dedicated Easy Car Finance broker and receive approval within 24 hours. When you finance with us, the entire process is handled on your behalf. Benefit from comprehensive paperwork guidance, strong negotiations with lenders, and a seamless settlement process.

Question 7

What interest rate will I get for a secondhand car loan?

Accepted Answer

Interest rates differ between borrowers. By comparing our large base of 80+ banks and lenders, our brokers ensure you receive the best possible interest rate for your situation. Allow us to negotiate with lenders on your behalf to ensure you receive an affordable final loan product.

Question 8

Can I finance a secondhand vehicle bought from a private seller?

Accepted Answer

Yes. We arrange used car loans for vehicles bought from dealerships, private sellers, auctions, car shows and more. All the necessary checks are handled on your behalf so you can confidently purchase the right car for you.

Question 9

What does Easy Car Finance offer compared to banks?

Accepted Answer

While banks take a one-size-fits-all approach to finance, we offer a completely customised service. When borrowers choose to finance with Easy, they gain access to over 80 banks and lenders, the best rates on the market, and a tailored repayment plan.

Question 10

How do I apply for a used car loan?

Accepted Answer

Our online and over-the-phone application and approval process is simple. Give us a call or submit an enquiry via the website and you’ll instantly be assigned your own dedicated broker. You’ll be guided through every step, from paperwork gathering to settlement.

Simple Used Car Finance

Why Finance a Secondhand Vehicle with Easy?

Quick and Easy Applications and Approvals

Australia’s Easiest Car Finance