Buying a car, ute, van or truck is a major financial decision. Uniko Capital helps customers and business owners in Melbourne, Victoria and across Australia understand vehicle finance options before they commit. We can discuss new and used car loans, private-sale vehicles, commercial vehicle finance and truck loans, subject to lender criteria.
A suitable vehicle loan is about more than the advertised interest rate. Compare the comparison rate, establishment and ongoing fees, repayment frequency, loan term, early repayment conditions and whether a balloon or residual payment applies. We explain these important points in plain language so you can make a more informed decision.
From Mulgrave and South East Melbourne to Dandenong, Clayton, Springvale, Noble Park and Glen Waverley, our team can help you start a conversation about car finance Melbourne customers can understand. We also assist with enquiries from customers across Victoria and Australia-wide.
We start by understanding the vehicle you want, how it will be used and what you want the finance to achieve. We then discuss the information a lender may require and help you compare the important loan terms before you decide whether to proceed.
We discuss the vehicle, purchase price, intended use and whether the finance is for personal or business purposes.
We help you understand the comparison rate, fees, repayments and documents a lender may require before you decide to apply.
For personal applicants, the lender may consider income, living expenses, existing commitments, credit history, deposit, vehicle age and intended use. For self-employed applicants and businesses, the lender may also review ABN history, trading performance, cash flow, GST position and the proposed use of the vehicle.
Review the interest rate, comparison rate, fees, loan term, repayments and any final balloon payment before accepting an offer.
Have identification, income evidence, bank statements, existing liabilities and vehicle details ready for lender assessment.
Budget for loan repayments as well as registration, insurance, fuel, servicing, repairs and other running costs.
Truck finance and commercial vehicle finance can be structured differently from a standard personal car loan. We can discuss eligible utes, vans, rigid trucks, prime movers, trailers and work vehicles for tradespeople, transport operators, couriers, builders and other Australian businesses.
Business applicants may need to provide information about their ABN, trading history, cash flow, GST position, vehicle use and proposed repayment plan. Ask your accountant about GST, depreciation, deductions and the tax treatment of a loan, lease or chattel mortgage before signing.
A secured car loan uses the vehicle as security for the borrowing. If repayments are not made, the lender may have rights to repossess and sell the vehicle under the contract.
A secured loan uses the vehicle as security, while an unsecured personal loan does not. Compare the comparison rate, fees, flexibility and risks based on your circumstances.
A comparison rate combines the advertised interest rate with most standard fees for a representative loan amount and term. It helps compare similar loans but may not reflect a personalised offer.
There is no single deposit amount for every Australian car loan. A deposit can reduce the amount borrowed, while the lender may also consider vehicle value, income, expenses, existing debt and credit history.
Used car finance and private-sale car loans may be available, subject to rules about vehicle age, condition, value, registration and seller details. The lender may request a valuation or purchase documents.
Applicants with defaults, late payments or limited credit history may still be able to discuss vehicle finance options, subject to lender criteria and assessment of current income, expenses, debts and repayment capacity.
Common documents include identification, proof of address, income evidence, bank statements, liabilities and vehicle information. Self-employed and business applicants may need ABN, BAS, tax return or business financial information.
Business vehicle finance may be available for eligible utes, vans, trucks and commercial vehicles. The lender may assess business structure, trading history, cash flow, vehicle use and repayment capacity.
A balloon or residual payment is a larger amount due at the end of the loan term. It can reduce regular repayments, but you must plan for the final amount. Refinancing is not guaranteed.
Contact your lender as soon as possible and ask to speak with its hardship team. Explain your circumstances and ask what assistance may be available. External dispute resolution may be available through AFCA subject to its rules.