Quick Car Loans

Yes – in some cases, you may actually receive your used car more quickly than a new one if the latter isn’t in stock.

By nature, used cars are always in stock and waiting to be sold, so they’re readily available for you to drive away in.

When you apply as a customer with a good to great credit score, you may find that approval occurs much more quickly.

This is because some lenders’ online engines can be satisfied that you’re a suitable customer for financing and can automatically approve your initial application.

This is also the case for asset-backed customers, such as those who own their home or other investment property, as lenders preference them.

For customers with bad credit, auto-approval generally isn’t possible; lenders will want to assess further documentation to inform their decision on whether they’re able to comfortably and reliably repay the loan.

Yes – even if you have zero previous borrowing experience, our consultants can help find lenders and products from our flexible lending partners that can work for your situation. This will hold up your application slightly, however, as the lack of evidence of past borrowing means that the lender will require you to complete several further checks before approving your application .

It can – the less you apply for, the lower the risk for the lender and the greater their ability to sign off on it sooner. However, this isn’t always possible if your car is a bit more expensive.

The best way to speed up your application in this case is to not ask for more than you can handle with your car loan, whether that be in terms of the debt you’re taking on or the monthly repayments required to service it.

Yes – while not as fast as consumer car loans, products such as chattel mortgages, car leases, novated leases and hire purchases can all be processed, approved and settled in a matter of days.

Probably, yes – because sole traders can’t produce the same documentation that other PAYG employees can, such as payslips, they’ll have to submit tax returns as part of their application.

Because these are more slightly more detailed and complex in nature, they’ll take longer to assess compared to PAYG documents.

If you’re unable to supply tax returns from the previous two financial years, though, you can apply for a low doc car loan, which instead utilises alternative documents such as BAS documents, bank and profit and loss statements and your ABN, the combination of which will take longer to assess.

If you’re need of faster financing than a car loan can offer, an alternative you could turn to is a personal loan. These are processed more quickly than car finance and can be either secured or unsecured (the latter being the faster to settle). With a personal loan, you can have the funds released inside 24 hours to buy your car.

It’s important to note than personal loans typically come with higher interest rates than car loans, but they can be used for car purchases in the same way (and are the only option for cars over the age of 20 to 25).