Looking for a car loan or car finance with a competitive rate? ADA Financial Services compares car loan options from multiple lenders to help you find finance that suits your budget and your next vehicle.
Client Experiences
Trusted by homeowners, investors, and business owners across Australia.
CAR LOANS
Get Your Car Loan Sorted Before You Shop
Most Australians walk into a dealership without knowing their finance options, which means they end up accepting whatever the dealer offers on the spot. Dealer finance is convenient, but it is rarely the most competitive product available, and the terms are often set in the dealer’s favour rather than yours.
Getting your car loan sorted before you shop changes the dynamic. You know your budget, you know your rate, and you can negotiate the vehicle price without finance clouding the conversation. ADA Financial Services works with buyers across the Sunshine Coast to compare lenders, identify the right loan structure, and get you pre-approved before you step onto a forecourt.
This page is general information only. Speak to a licensed broker for advice tailored to your situation.
Who we help
Vehicle Finance for Every Type of Buyer
Car loan applications differ depending on who is borrowing, what the vehicle is for, and how income is assessed. We regularly help buyers across a range of situations, from straightforward personal purchases to more complex self-employed or private sale scenarios where standard dealer finance options do not apply.
- Private buyers purchasing a new or used vehicle for personal use
- Business owners and sole traders buying a work vehicle or ute, where the loan structure may differ for tax purposes
- Self-employed borrowers needing a lender that can properly assess their income, including those with non-standard or variable earnings
- Buyers purchasing from a private seller where dealer finance is not available
- People refinancing an existing car loan onto better terms, whether to lower repayments or improve loan flexibility
- First-time borrowers with limited credit history who need a lender willing to assess their full financial position, not just a credit score
Car Finance Types
Types of Car Finance
The right product depends on whether you are buying as an individual or a business, and what you intend to do with the vehicle. Each product works differently in terms of security, rate, and tax treatment, so getting the right one from the start matters.
- Secured Car Loan (Consumer) — Vehicle registered as security, giving you a lower rate. Best suited to personal buyers purchasing new or late-model used cars.
- Unsecured Car Loan — No security over the vehicle, which means a higher rate. Best suited to older vehicles, private sales, or buyers who do not want lender interest in the car.
- Chattel Mortgage (Business) — For ABN holders where the vehicle is used 51 percent or more for business. You own the car from day one. Best suited to sole traders, tradies, and small businesses, with potential GST and depreciation benefits.
Tax deductibility and GST claims on chattel mortgages depend on your individual business circumstances and ATO eligibility. We always recommend confirming the position with your accountant before relying on any tax benefit.
NEW VS USED
New vs Used: What Changes
The vehicle you are buying affects the loan product available, the rate, and which lenders will consider the application. New and used vehicles are assessed differently across several key factors.
- Rates — New vehicles generally attract lower rates due to stronger resale value as security. Used vehicles are slightly higher due to depreciation and resale uncertainty.
- LVR — Most lenders finance up to 100 percent of the purchase price on new vehicles. Used vehicles may require a deposit depending on the age and value of the car.
- Vehicle Age Restrictions — No age restrictions apply to new vehicles. Used vehicles are typically required to be no older than 10 to 15 years at the end of the loan term.
- Private Sale — Not applicable for new vehicles purchased through a dealer. For used vehicles, some non-bank lenders will finance private sales, though there are fewer options than through a dealer.
BALLOON PAYMENTS
Understanding Balloon Payments
A balloon payment is a lump sum due at the end of your loan term. Adding a balloon reduces your regular monthly repayments during the loan, but you owe the balloon amount when the term ends.
01
How It Gets Settled
The balloon must be paid in full at loan end, refinanced into a new loan, or settled through a trade-in of the vehicle.
02
Higher Balloon, Lower Repayments
A larger balloon means lower monthly repayments during the loan term, but more total interest paid over the life of the loan.
03
When Balloons Apply
Balloons are optional on consumer car loans and chattel mortgages, but compulsory on some lease products depending on the lender and structure.
04
Who They Suit
They suit buyers who plan to trade the vehicle before the loan ends, or who want lower short-term repayments and are comfortable managing the balloon at term end.
PRE-APPROVAL
Pre-Approval and Why It Matters
Pre-approval gives you a confirmed borrowing limit before you negotiate, which is one of the most practical things you can do as a car buyer.
01
Stronger Negotiating Position
You approach a dealership effectively as a cash buyer, putting you in a stronger position to negotiate on price and terms.
02
Avoid Dealer Finance Pressure
You avoid the pressure of signing dealer finance documents at the point of purchase, where rates and terms are often less competitive.
03
Valid for 30 to 90 Days
Most car loan pre-approvals are valid for 30 to 90 days, giving you time to find the right vehicle without rushing the decision.
04
Single Application, No Multiple Enquiries
We submit pre-approval on your behalf, so the process does not involve multiple credit enquiries across different lenders affecting your credit file.
Our Process
How We Work Through a Car Loan With You
Getting a car loan in place is straightforward when you know what to expect. Here is how we work through it with you from initial assessment through to settlement.
01
Assessment
We go through what you are buying, your income, existing debts, and whether you are purchasing as an individual or through your business.
02
Lender Comparison
We compare rates, fees, vehicle age requirements, and lender policy across our panel to find the right fit for your situation.
03
Pre-Approval or Application
We prepare and submit either a pre-approval for buyers still searching, or a full application once a vehicle is identified.
04
Settlement
Funds are paid directly to the dealer or private seller. For private sales, we coordinate the PPSR check to confirm there is no existing finance on the vehicle.
WHY ADA FINANCIAL SERVICES
Why Work With ADA Financial Services
We are a Sunshine Coast-based lending specialist working across car loans, home loans, and asset finance. We take the same structured approach to vehicle finance as we do to every other loan, identifying the right product before we look at rate.
01
Broad Lender Access
We compare car loans across a panel of banks and non-bank lenders, not just one option, so you are not limited to what a single lender offers.
02
Right Product First
We identify the right product first, whether that is consumer finance, a chattel mortgage, or something else, before we start comparing rates.
03
We Handle the Paperwork
We handle the paperwork so you are not going back and forth between lenders and a dealership trying to coordinate the process yourself.
04
No Direct Cost in Most Cases
Our fee is paid by the lender at settlement in most standard cases and is disclosed to you in writing upfront before anything is submitted.
Frequently Asked Questions
Common Questions About Car Loans
What is the difference between a secured and unsecured car loan?
A secured loan registers the vehicle as collateral, resulting in a lower rate. An unsecured loan has no security over the car, carries a higher rate, and is commonly used for older vehicles or private purchases that do not meet secured lender requirements.
Can I get a car loan if I am self-employed?
Yes. Most lenders can assess self-employed applicants using bank statements, tax returns, or BAS statements. Some non-bank lenders have more flexible assessment policies than the major banks. We identify which lenders suit your income documentation before anything is submitted.
What is a chattel mortgage and is it right for my business?
A chattel mortgage is vehicle finance for ABN holders where the vehicle is used predominantly for business. You own it from day one while the lender takes a mortgage over it as security. Potential tax benefits apply depending on your business structure. Your accountant should confirm eligibility.
What is a balloon payment and should I include one?
A balloon is a lump sum due at the end of the loan term. It lowers monthly repayments but means a larger amount at the end. It suits buyers who plan to trade or sell before the loan ends. We model both scenarios so you can compare the total cost.
How long does car loan approval take?
For straightforward applications with complete documentation, many lenders approve within 24 to 48 hours. Private sale purchases may take slightly longer due to the additional PPSR check.
Can I get a car loan to buy from a private seller?
Yes. Many non-bank lenders finance private-sale vehicles, though fewer lenders participate than for dealer purchases. The vehicle still needs to meet age and condition criteria. We run a PPSR check before settlement to confirm no existing finance is registered against the car.