Consider one of Australia’s most open-minded lenders and learn about Liberty car finance with Savvy here.
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Australian-founded online lender Liberty is one of the country’s most popular financiers, thanks in large part to their free-thinking loans and more open-minded approach to approving finance deals.
This extends to their car loan products, which are designed to help a wide range of potential borrowers access the funds they need to purchase their vehicle and pay off their debt as comfortably as possible.
Fortunately, you can find out more about Liberty and their car loans right here with Savvy, as we’ve broken down their product to keep you informed on how it works and what its key features and benefits are. This will help you ultimately choose your car loan with greater confidence.
*Liberty Financial is amongst Savvy’s panel of car loan financiers.
With interest rates starting from 5.99% p.a. and comparison rates beginning at 7.55% p.a., you can secure a loan for yourself at a lower rate than other lenders and save overall.
With a borrowing range offered of between $5,000 and $100,000, you can choose any car you like, from a beaten-up set of wheels to use for parts to high-end luxury vehicles.
Liberty prides themselves on providing a fast, hassle-free process for Australians, so you can fill out your application, receive conditional and full approval and own your car in very little time.
Whether you’re paid weekly, fortnightly or monthly, you can select a payment schedule which suits your needs with Liberty. The more frequent the repayments, the less your loan will cost.
You can add a balloon payment, or residual amount, to your car loan, which enables you to pay a lump sum at the conclusion of the finance deal and reduce your monthly repayments across your term.
The FPA in your car loan gives you the ability to cut down your monthly repayments by up to two thirds if you decide you’d like to distribute your funds elsewhere.
The car you choose doesn’t have to be brand-new out of the dealership; you can also get financing for older vehicles up to 20 years of age at the point of application with Liberty.
You won’t be barred from applying for your car loan with Liberty just because you’ve struggled with credit in the past or have an unconventional financial situation which may count you out with other lenders.
One of the most important features is the interest rate on offer, which can be very attractive to younger borrowers and those looking to secure financing from a free-thinking financier.
If you’re applying for Liberty car finance and are under the age of 23, there’ll be a cap of just $25,000 placed on your borrowing power, potentially limiting your options.
As part of your loan, you’ll also have to pay several fees, such as an application fee (which can vary depending on the size of the loan) and ongoing fee of $7.70 each month.
Borrowers looking for short-term loans of one year or less will be required to look elsewhere, as this loan comes with a two-year minimum term over which to repay it.
Liberty implements relatively basic and broad eligibility criteria for their loans, as they aim to make financing obtainable for people of all walks of life. As such, you’ll be required to meet the following general criteria when applying for your car loan with Liberty:
Liberty is slightly more unique than most other lenders when it comes to how you can apply. Rather than applying directly through their website, you can instead apply via a broker. You can do this with Savvy following these simple steps:
Fill out a quick quote (with an option to complete your full application)
Firstly, fill out an initial quick quote with Savvy to let us know about you and the loan you’re after. This will only take a matter of minutes to complete, after which you have the option to submit a full application for review by a member of our consultant team. They’ll take your profile into account and find the best offer available, with Liberty one of the lenders on our panel.
Consider loan offers with your Savvy consultant
Your consultant will return to you once you’ve completed your full application and show you the best loan offers available to you, recommending what they see as the best finance solution for you. You can compare several different offers if you’d like to consider more of your choices yourself.
Have your application submitted and approved
Once you give your consultant the green light to pursue your Liberty loan, they’ll prepare your application with the various documents and personal details required and send it off to Liberty. They’ll have a clear understanding of Liberty’s eligibility criteria and what will and won’t be approved, so your application is in safe hands.
Take ownership of your vehicle after signing your contract
Your consultant will let you know when your application is approved and forward you the Liberty loan contract to sign and return. Once that’s completed, they’ll release your funds directly to the seller of your vehicle, who can then release the vehicle to you so you can take ownership of it.
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