Buying a Vehicle in Your Personal Name vs Your Business Name

If you have a business, buying the vehicle under your ABN is usually the cleaner and more practical option. It also opens up tax benefits not possible under your personal name. It also makes it easier to show the vehicle is used for work, which many lenders prefer when assessing business purpose finance.

Why Are New Vehicle Interest Rates Cheaper Than Used?

New vehicles get cheaper rates because they’re lower risk for lenders. A brand new car has a clear value, no wear and tear, and is easier to resell if something goes wrong. That gives lenders more confidence, so they offer better pricing.

Used vehicles vary a lot in condition, age and value, which means more risk. Older cars can drop in value faster or need repairs, and that uncertainty pushes rates higher.

Do We Protect Your Credit File

Yes. We only run your credit check when it is needed and when the deal is ready. Before that, we use soft checks, lender tools and your documents to work out which lender is the right fit. This stops your file from getting hit with extra enquiries that can hurt your score.

We also match you with lenders that suit your income, work type and vehicle choice so you are not applying at random. A smart match means a cleaner file and a smoother approval.

Our goal is simple. Keep your credit file clean, avoid unnecessary enquiries, and make sure the only check that hits your file is the one that is worth it.

Why are secured car loans usually cheaper than unsecured personal loans?

With a secured car loan, the lender can take the car if you stop paying. That safety lowers their risk, so they offer a lower rate. An unsecured loan has no asset behind it, which means more risk for the lender, so the interest rate is higher to balance that out.

What is a residual (balloon) payment?

A residual or balloon payment lets you keep your repayments lower during the loan, with a larger lump sum due at the end to clear the remaining balance.

Can I refinance my current loan?

Yes. If you’re paying more than you should, we can help you move your loan to a sharper deal that suits your needs and saves you money. Get a quote today and see what you could keep in your pocket.

What is a Buy Back?

A buy back is when a lender buys a vehicle your business already owns and then finances it back to you. You get a lump sum of cash up front while still keeping and using the vehicle as normal. Businesses do this to free up cash that’s tied up in a paid off vehicle. It can be used for working capital, bills, growth or smoothing cashflow. You usually keep full tax benefits too. In most cases you can claim interest and depreciation, but always double check with your accountant.

Buying a Vehicle in Your Personal Name vs Your Business Name

If you have a business, buying the vehicle under your ABN is usually the cleaner and more practical option. It also opens up tax benefits not possible under your personal name. It also makes it easier to show the vehicle is used for work, which many lenders prefer when assessing business purpose finance.

Why Are New Vehicle Interest Rates Cheaper Than Used?

New vehicles get cheaper rates because they’re lower risk for lenders. A brand new car has a clear value, no wear and tear, and is easier to resell if something goes wrong. That gives lenders more confidence, so they offer better pricing.

Used vehicles vary a lot in condition, age and value, which means more risk. Older cars can drop in value faster or need repairs, and that uncertainty pushes rates higher.

Why You Shouldn’t Make Multiple Inquiries When Shopping for Finance

Every application you lodge leaves a mark on your credit file. When you fire off multiple enquiries to different lenders, it can make your file look risky even if you are a strong applicant. Lenders see the hits before they see the story, and too many in a short time can lead to slower approvals or higher rates.

Many people think that more applications means more choice, but it usually does the opposite. It limits your options because lenders start to question why you have been shopping around so hard.

The smarter approach is to choose the right lender up front. That means doing the checks and the matching before any credit file enquiry is made. One clean application gives you a much stronger result than five rushed ones.