Car Finance and Car Loans

Car finance can be arranged through a variety of suppliers including banks, credit unions, finance company’s, finance brokers and car dealerships.

Generally speaking there are no two application processes the same and each has its own methodology in processing and assessing your car loan application.

Madison Finance can provide on the spot conditional approval and loan documents can be prepared and emailed to you usually within four hours.

The first stage of the application process is to receive your Conditional Approval. When you submit your application, we can approve or decline your application based upon the information submitted by you and by undertaking some other enquiries about your credit history, employment etc.

Once you have been provided by Conditional Approval you are now ready to secure your new car.

After advising Madison Finance of the details of your new car, we can now prepare your loan agreement and email you the forms to read and sign all from the comfort of your own home or office.

Once the forms have been signed and verified by our settlements department, we will then proceed to pay the vendor and you can then arrange a suitable time to take delivery of your new car with the seller.

If you have any questions about the applying for car finance pre-approval, please contact us by telephone on 1300 887 967 or make an online enquiry.

Have more power when negotiating your new car purchase price with a quick pre-approval on your car finance with Madison Finance.

We all know and understand that it’s better to negotiate from a position of strength. Having your car loan pre-approved gives you that power. You will know in advance what your repayments will be, so you can secure your new car quickly and with confidence. Most importantly, you will not have to rely on dealer car finance.

When it comes to buying your new car – there are many car finance options available for you to consider. This summary is designed to assist you with choosing the best car finance and best car loans for your needs.

Car Leasing
With a car lease the financier buys equipment on your behalf and rents it back to you. You finance the total purchase price of the car (less the GST input tax credit) and make regular rental instalments for a fixed period of time - usually up to five years.

Novated Leasing
Provides the opportunity for employers to offer employees the option of leasing a new car or used of their choice as part of their salary package. The novated lease is in the employee’s name, and the employee has ultimate responsibility for the leased vehicle (even after leaving the employer). Learn more about employer benefits and employee benefits.

Commercial Hire Purchase
A common method to arrange motor vehicle finance, whereby the financier buys the goods and hires them back to you as the customer. With a commercial hire purchase or CHP agreement ownership is automatically transferred to the customer at the end of the car finance agreement.

Chattel Mortgage
The goods are purchased directly from the supplier and the financier registers a mortgage or lien over the goods until the contract is repaid in full, hence the term chattel mortgage. If GST is included in the price, the customer may be eligible to claim the GST back in their next BAS. Apart from mortgage stamp duty, the contract or repayments do not attract GST or stamp duty.

If you would like to discuss your car loan or car leasing needs with one of our finance professionals call 1300 887 967 and start a car finance conversation.

There are so many examples that can be found about scams and deceit that happens when buying a used car from a dealership. There are definite pitfalls to buying from an individual as well.

When it comes down to it, the real question is, “How hard are you willing to work for a good deal?”

The wealth of information now readily available on the internet has meant that many car dealers are slowly, surely, and finally starting to become more truthful in their dealings with consumers.

This includes they way that dealer car finance is sold by professional salespeople within motor vehicle dealerships. You are not necessarily guaranteed of getting the best car finance deal at the car dealership, so you should shop around before going car hunting to make sure you get the right car loan and do your homework on what the best car finance rates are currently available.

Car sellers, on the other hand, are still as up and down as ever. There are many people who are honest and straightforward with selling their vehicle, just by nature. Still, there are those who are taking advantage of the internet and the wealth of resources available to make great money selling as an individual.

With that said, please erase any ideas that car dealers all lie and most individuals do not. Honesty must be judged on a case by case basis, so that is no longer part of the general equation.