financing on cars Page 4

Financing on cars in Australia boils down to choosing how you want to owe money, and to whom. Common options include a secured car loan, bank/personal loan, dealer finance, a novated lease (via salary packaging), or a chattel mortgage for ABN holders. Terms typically run 3–7 years, and a decent deposit trims interest and keeps you out of negative equity when depreciation does its best impression of a cliff dive. Always compare the comparison rate, upfront/ongoing fees, and any balloon payment shenanigans; cheap weekly figures can cost more overall. Check for early‑payout penalties and mandatory comprehensive insurance, and get pre‑approval so you can haggle like a pro on the car, not the finance. Hunting on Tradingpost? Line up your finance first, then pounce—much less “kid in a lolly shop,” much more “savvy adult with receipts.”