Car Loans in Brisbane
Whether you are purchasing a new vehicle, a quality used car, or need finance for business vehicles, Brisbane Home Loan Broker connects you with brokers who compare car loan products from over 100 lenders. Our free introduction service helps Brisbane residents and business owners find competitive vehicle finance without the legwork.
Types of Car Finance
Vehicle finance is not one-size-fits-all. The right product depends on whether the vehicle is for personal or business use, your tax situation, and your budget. Our brokers explain the options and recommend the best fit.
Consumer Car Loans (Personal Use)
The most common car finance for personal vehicles. You borrow a fixed amount, repay over a set term (typically three to seven years), and own the vehicle outright once the loan is paid. Consumer car loans can be:
- Secured — The vehicle acts as security, resulting in lower interest rates
- Unsecured — No security required, but higher rates apply
- Fixed rate — Repayments stay the same for the loan term
- Variable rate — Repayments may change with market conditions
Chattel Mortgage (Business Use)
A chattel mortgage is a popular option for businesses and ABN holders purchasing vehicles. You own the vehicle from day one and can claim GST on the purchase price, interest charges, and depreciation. The lender holds a mortgage over the vehicle until the loan is repaid.
Benefits include:
- GST can be claimed on the purchase (if registered for GST)
- Interest and depreciation are tax deductible
- Balloon or residual payments available to reduce monthly repayments
- You own the asset from settlement
Novated Lease
A novated lease is a salary packaging arrangement where your employer makes vehicle payments from your pre-tax salary. This can provide significant tax savings. The lease is a three-way agreement between you, your employer, and the finance company.
Key features:
- Payments come from pre-tax income, reducing your taxable salary
- Running costs (fuel, insurance, registration, servicing) can be bundled
- Available for new and used vehicles
- If you change employers, the lease transfers to you or your new employer
Novated leases are particularly beneficial for employees in higher tax brackets. Your broker can model the savings for your specific situation.
Finance Lease (Business Use)
The finance company owns the vehicle and leases it to your business. Lease payments are fully tax deductible. At the end of the lease, you can purchase the vehicle for a residual amount, re-lease, or return it.
Understanding Balloon Payments
A balloon payment (also called a residual value) is a lump sum payable at the end of your loan term. Setting a balloon reduces your regular repayments but means you owe a larger amount at the end. Options at that point include:
- Pay the balloon in cash
- Refinance the balloon amount
- Trade in the vehicle and use proceeds toward the balloon
- Return the vehicle (lease arrangements only)
Your broker will model repayments with and without a balloon so you can make an informed choice.
PPSR Checks — Protecting Your Purchase
Before purchasing a used vehicle, a Personal Property Securities Register (PPSR) check reveals whether the vehicle has outstanding finance, has been written off, or is recorded as stolen. This costs around $2 and is essential for any private sale. Dealerships typically provide a clear PPSR check, but it pays to verify independently.
Secured vs Unsecured Car Loans
| Feature | Secured | Unsecured |
|---|---|---|
| Interest rate | Lower (typically 5-9%) | Higher (typically 8-15%) |
| Security | Vehicle acts as collateral | No collateral required |
| Loan amount | Higher limits available | Often capped lower |
| Approval speed | Standard assessment | May be faster |
| Vehicle age | Restrictions may apply | No restrictions |
| Risk | Lender can repossess vehicle | No asset at risk |
Lenders for Car Finance
Our brokers compare vehicle finance products from:
- Major banks — CBA, Westpac, NAB, ANZ (competitive rates for new vehicles)
- Specialist vehicle lenders — Macquarie, Pepper Money, Liberty, Angle Finance
- Non-bank lenders — Options for non-standard credit profiles
- Novated lease providers — Specialist salary packaging companies
Brisbane Vehicle Dealers
Brisbane is home to major dealership precincts across the city, including inner-city locations and suburban showrooms. Major brands are represented throughout the greater Brisbane area. Whether purchasing from a dealer or private seller, pre-approved finance from a broker gives you negotiating power equivalent to a cash buyer.
Frequently Asked Questions
How quickly can I get approved for a car loan?
Many car loan applications can be conditionally approved within hours. Full approval with documentation typically takes one to three business days. Pre-approval before shopping gives you a clear budget.
Can I finance a used car?
Yes. Most lenders finance used vehicles, though some restrict the age of the vehicle (commonly up to 10 to 15 years old at the end of the loan term). Interest rates for used cars may be slightly higher than for new vehicles.
Is dealer finance a good option?
Dealer finance can be convenient but may not offer the most competitive rates. A broker compares products from multiple lenders, often finding better rates or terms than dealer-arranged finance. Getting pre-approved before visiting a dealership puts you in a stronger negotiating position.
What credit score do I need for a car loan?
Requirements vary by lender. Major banks typically prefer good credit histories, while specialist lenders cater to borrowers with less-than-perfect credit. A broker identifies lenders suited to your credit profile.
Can I pay off my car loan early?
Most car loans allow early repayment. Fixed-rate loans may have early termination fees, while variable-rate loans typically do not. Your broker will confirm the early repayment terms before you commit.
Connect with a Vehicle Finance Specialist
Whether you need a personal car loan, business vehicle finance, or want to explore novated leasing, connect with a broker who compares products from 100+ lenders. See our commercial finance page for broader business lending, or our home loans page for property finance.
Brisbane Home Loan Broker is a broker introduction service. We connect you with qualified finance brokers holding Australian Credit Licences. All vehicle finance products are subject to lender terms, conditions, fees, and eligibility criteria.
