Car Finance

How do I apply for a car loan?

To apply for a car loan, you will need to provide proof of identification, income, and savings. So you may be asked for any combination of passport, driver’s licence, bank statements, payslips, tax returns and utility bills. The quickest and easiest way to start your application is to use our online pre-approval form. 

Pre-approval will not affect your credit rating, so you can start an obligation-free enquiry to see if that new car you have your eye on fits your budget!

What types of car loans are there?

You can apply for a car loan for a new car or a used car purchase. The difference in the type of car finance you need comes down to the security or collateral you put up for the loan. There are both secured and unsecured car loans.

Secured Car Loans.

Most new car loans are secured loans. This means the finance provided to you by the lender is secured against the car you are buying. In effect, your vehicle protects the lender against you defaulting on your loan repayments. You will be required to provide the lender with details of the vehicle and your registration papers.

The benefit of a secured car loan is that lenders will offer you a lower interest rate and better terms. In addition, a secured loan can help you save money by reducing your repayments or increasing your borrowing capacity and extending the repayment period. We want to help you get behind the wheel of your new car with the best loan for your budget.

Unsecured Car Loans.

Unsecured car loans are the primary finance option provided for used cars. These loans are based on the lender’s confidence that you can and will repay the loan. As no asset is provided as security to the lender, the lender must decide whether to provide finance based on your credit history.

Based on stricter eligibility requirements, unsecured loans will have a higher interest rate than secured loans. However, these loans offer the flexibility to buy new or used cars and can also cover the costs of rego, insurance and aftermarket upgrades. So you get the benefit of buying the vehicle you want when you know you can afford the repayments.

Ezilend Car Finance.

Ezilend can help you with secured and unsecured finance options for cars, SUVs, utes and electric vehicles. In addition, we offer car loans for dealer and private car sales. Buying a car is a financial commitment and you need to understand the terms of the loan and your repayment commitments. Even if you have been rejected by other lenders, speak with one of our experienced car finance brokers to discuss your options.

Bad Credit Car Loans.

Ezilend can help you with a bad credit car loan if you have credit issues or have been a previous bankrupt. As one of Australia’s leading finance brokers, we can access a range of lenders who are happy to provide car loans to people who have experienced credit issues in the past. Don’t let your bad credit stop you from getting a car loan. Even if other lenders have rejected you, speak with one of our experienced car finance brokers to discuss your options. Ezilend simplifies bad credit car loans. Get pre-approval today.