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 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?
- 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
How to apply?
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 a number of disclosure documents by email. Please read and return documents as requested.
Step 5 – We will have an answer to application within 2 working days.