Most buyers negotiate hard on the car and then accept the first finance offer put in front of them. The second decision is often worth more than the first.
The main products
Consumer car loans are secured personal lending for private buyers. Chattel mortgages suit businesses, with the vehicle as security and the business taking ownership from the start.
Finance leases and operating leases keep ownership with the financier, while novated leases route the arrangement through your employer's payroll.
How your rate is actually set
Credit profile, vehicle age, loan term, deposit and whether the loan is secured all move the rate. So does where the loan is written.
Dealer-arranged finance can be competitive, but it can also carry a margin loaded onto the base rate. Comparing at least one independent quote is the simplest protection available.
Reading the whole contract
Look past the headline rate to establishment fees, monthly account fees, early termination costs and the comparison rate, which captures more of the picture.
Two loans with identical advertised rates can differ by thousands across a five-year term once fees are included.
Add-ons at the finance desk
Extended warranties, gap insurance, paint and interior protection are typically presented as monthly amounts, which disguises their real cost.
Price each separately, decline anything you have not independently assessed, and never let an add-on be bundled into the vehicle negotiation.