WHAT IS AN UNSECURED CAR LOAN?
An ‘Unsecured Car Loan’ is also called ‘Personal Car finance.’ This is a simple arrangement in which the financier lends the customer money to purchase a vehicle. Unlike a secured car loan, the loan is not secured against the vehicle.
An ‘Unsecured Car Loan’ is a simple arrangement in which the financier loans money to the customer in order to purchase a vehicle. The loan is secured against the vehicle and is usually repaid over 3-5 years.
An ‘Unsecured Car Loan’ is ideal for individuals and families who need a car and wish to pay it off over time.
WHY DO I WANT AN UNSECURED CAR LOAN?
- Contract flexibility. Repayments can be made over ten years if necessary.
- Can be used to purchase older or cheaper vehicles.
- Depreciation and running costs are tax deductible.
- The loan is not secured against the vehicle.
An ‘Unsecured Car Loan’ is best suited to those who don’t necessarily want to purchase a brand new vehicle, or need a more flexible plan for paying back the loan. For example, it might be time to get your teenager a car, or hunt down a second-hand 4wd for that trip across Australia you’ve always wanted to take.
Supalease offers flexible leasing options for all kinds of vehicles so, once you’ve found the right one for you, let us know and we’ll help you get your hands on the keys.