Quick answer: Your car loan borrowing power is set by your income, existing debts and credit commitments, expenses, credit history and deposit. You can lift it before you apply by reducing or closing unused credit card limits, clearing small debts, saving a larger deposit or trade-in, and keeping a clean repayment record. See our car...
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How a Car Loan Affects Your Credit Score (Plus The Top Credit Myths You Need to Unlearn)
For many Australians, a car loan is one of the first major financial commitments they take on. Yet despite how common vehicle finance is, there is still widespread confusion about how a car loan actually affects your credit score. Misinformation can lead people to avoid finance altogether or make decisions that hurt their borrowing power...
Redraw on Your Home Loan or Get a Car Loan: Which Option is Best?
When deciding between a home loan redraw and a car loan, it’s important to weigh lower interest rates against loan terms. A dedicated car loan is usually the better choice for most people, as it encourages faster repayment of a depreciating asset. A home loan redraw can work if you’re highly disciplined and consistently make...
Car Loan Tips: How Car Finance Calculators Work
Car finance calculators estimate your car loan repayments using key financial inputs and a mathematical formula. They help you budget and compare options by showing how factors like loan amount, interest rate, and loan term influence your monthly payments and total cost, making it easier to plan your purchase wisely. How accurate are car loan...
How to Apply for a Low Doc Loan
Applying for a low-doc loan involves providing alternative proof of income such as bank statements, BAS statements, or a letter from your accountant rather than traditional tax returns. You’ll then work with a lender, often a specialist broker, who understands your business needs (an ABN is required), submit your application, and receive faster approval, making...
What Lenders Really Look for When Approving Car Finance
Quick answer: When approving car finance, lenders weigh five things above all — your credit history, your income and employment stability, your existing debts (serviceability), your deposit or equity, and the vehicle itself as security. A strong application across those five speeds up approval. Explore your car finance options, or read on for how to...
Income Requirements to Qualify for a Campervan Loan
Purchasing a campervan is a dream for many Australians, offering the freedom to explore the open road and create unforgettable memories. However, securing a campervan loan is not just about finding the right vehicle or lender it also heavily depends on your income. Lenders need assurance that you have a stable and sufficient income to...
Campervan Loan Insurance: What You Need to Know
Purchasing a campervan is a thrilling step toward exploring the open road, but it comes with financial responsibilities. If you’re planning ahead, you can also get an insurance quote to better estimate your total costs. One of the most important aspects to consider is campervan loan insurance. Many buyers focus solely on securing camper loans...
Can You Get a Campervan Loan With Bad Credit?
Purchasing a campervan is a dream for many Australians, offering the freedom to explore the open road and create unforgettable memories. However, securing finance can be a challenge, particularly for individuals with less-than-perfect credit. If you have bad credit and are wondering whether a campervan loan is still possible, you’re not alone. Many people assume...