Motor Vehicle Finance

Getting the right car finance that suits you and your needs is important. When you are ready to purchase your new dream set of wheels you can take comfort from the fact, with MMH, you have an option of lenders and motor vehicle finance options to suit your current needs. If you’re already found your car or still shopping around, we can arrange an approval or pre-approval loan.

What is a car loan and how does it work? A car loan involves a finance company lending you the money to purchase a vehicle for personal use. The loan is secured against the vehicle and, when the final repayment has been made, you will own the vehicle outright.

What tax and GST can I expect to pay on a car loan? A car loan is classed as a personal finance product, however, it may still be possible to claim a tax deduction on your payments, depending on how frequently you use your vehicle for business purposes. For more information about claiming vehicle-related tax deductions, please visit the ATO website.

What are the benefits of a car loan?

Car loans offer flexibility and some great benefits that make your purchase easier and more affordable. Let’s take a closer look at these advantages.

Benefits include:

  • Flexible loan repayment periods, ranging from two to 10 years
  • The option to reduce monthly repayments by setting a final balance (Residual Value) payment
  • Choice of a fixed or variable interest rate
  • The option to put down either a lump sum or your current vehicle as a deposit to reduce the amount borrowed
  • The potential to claim tax deductions if the car is being used for business purposes
  • Lower interest rates, thanks to the loan being secured against the vehicle.

Additionally, car loans can free up your cash for other investments, as you don’t have to pay the full vehicle cost upfront. Regularly paying off your car loan also contributes positively to your credit history, potentially improving your credit score over time.

Ready to drive your dream car? Let My Money House help you find the perfect motor vehicle finance options suited to your needs. Contact us today and take the first step towards a smooth, affordable car ownership experience!

How to apply for a Car Loan?

Now that you have your heart set on your dream car, it’s time to kick things into gear. Here’s how to apply for a car loan with My Money House.

Step 1 – Allow 10 minutes to complete your enquiry online

Step 2 – Once submitted, you will receive an email notification advising you we have received your enquiry and will commence our assessment process.

Step 3 – Our team will contact you to discuss the best loan options, repayment amounts and lenders available to you.

Step 4 – You will receive several disclosure documents by email. Please read and return documents as requested.

Step 5 – We will have an answer to your car loan application within 2 working days.

With My Money House, getting the right loan is simple and clear-cut. Our process is smooth, convenient, and easy to follow. We focus on giving bespoke advice and finding a loan that fits just right with your financial needs.

Got any questions or need a hand during your car loan application? Our team is always ready to offer their expert help. Choose My Money House for a straightforward loan application experience that puts you on the path to success.

Looking for Motor Vehicle Finance Services?

Get behind the wheel effortlessly with My Money House’s motor vehicle finance services. We’re all about making car financing simple, quick, and tailored to you. With our easy and friendly car loan options, plus rates that won’t break the bank, you’re closer than you think to that new car smell. Our team understands your needs and is ready to help you navigate the best finance options

So, why wait? Reach out to My Money House now, and let’s put you in the driver’s seat of your dream car. Your next adventure on the road is just a call away!