Under a car loan, you borrow money to purchase your new car and then pay it off in monthly instalments. Interest is charged on the money you borrowed, along with associated loan processing fees.
This is typically incorporated into the monthly repayment figure you pay back. This loan is paid back over a given timeframe, which can be flexible to your circumstances. You will need to apply for a loan to determine your eligibility.
Why should I finance a bravoauto vehicle instead of buying one with cash?
Each has pros and cons and you will need to determine what works best for your situation. You might want to engage your financial adviser to help make that decision.
For most people, the main benefit of a car loan is that it allows you to have access to your bravoauto vehicle today, rather than having to wait to save up for the full purchase price.
Why should I finance through bravoauto instead of my bank?
bravoauto offers a convenient one-stop-shop to organise both your finance and the purchase of your vehicle, potentially saving you time over organising money through a bank. You also know that bravoauto is a brand dedicated to making your purchase seamless and easy.
What is a balloon payment on a car loan?
A balloon payment is a lump sum of money at the end of your loan term, that you need to repay to fully pay off your loan and own your vehicle outright. The size of your balloon will impact the amount of your monthly repayments but generally speaking, the larger the balloon amount, the lower the monthly repayment amount.
What is a secured car loan?
There is a risk associated with every loan application. This is due to the loan having to be paid over a period which puts the repayments at risk. One way financiers reduce this risk is through securing the car against the loan. In order to do this the financier will register a security interest against the car on the Personal Property Securities Register (PPSR).
If you fail to meet repayments, the vehicle may be recovered and sold to cover the cost of the loan and associated recovery fees. Almost all car loans will be secured against the car.
How long does it take to get vehicle finance with bravoauto?
Depending on the application, it can take as little as a couple of hours to secure your approval - if you have a good credit history, can provide proof of your income, assets and liabilities and other identification verification upfront.
What documents do I need to apply for finance?
For a quick, hassle-free car loan application you’ll need to provide documents that prove you’re a reliable borrower. Documents such as:
• Personal information and identification
• Proof of income
• Proof of assets and liabilities
• Information about your car and insurance
How much can I borrow for a car loan?
The amount you can borrow will entirely depend on your personal circumstances. It’s best to talk with one of our team at a participating bravoauto financial services store to help understand how much you can borrow.
What will my repayments be?
Assuming you are eligible for a car loan, the amount of your repayments will be determined by a number of factors including your credit history.
The car loan calculator on our website can give you a quick estimate of what your potential repayments might be, but this may differ to your personal rate so it is best to talk to the team at your bravoauto store.
