Car Loans Townsville

Get the right to loan buy your car in Townsville by applying with Savvy.

No obligation. It won't affect your credit score.
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, updated on July 5th, 2023       

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Compare low-rate car loans in Townsville

Buy your car with the right loan in Townsville

If you’re in the market for a car loan to help you purchase your next vehicle, look no further than Savvy. We’re partnered with a diverse and reputable set of lenders so you can maximise your chances of finding the right finance deal with us. Regardless of whether you’re in Townsville or anywhere else in Far North Queensland, Savvy services the regions to make life simpler for you.

Apply with Savvy and save

By applying with Savvy, you can maximise your chances of securing a low-cost car finance deal. With so many lenders on our panel and a team of dedicated consultants here to help you through the application process, we’ll help you narrow down the cheapest and best car loan on the market. Get the wheels in motion on your car loan with a no-obligation quote today.

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The features and benefits of car loans in Townsville

Low interest rates

With low interest and comparison rates available, you can find and compare from a range of highly competitive offers and save overall.

Choose your preferred loan term

Whether you prefer to get your car loan paid off in just 12 months or spread out the cost over as many as seven years, you can customise your loan repayments.

Borrow up to 100% of your vehicle’s purchase price

There’s no need for you to put any of your own money forward for your car loan if you don’t wish to, with financing available up to the full value of the vehicle purchase.

Get approved for new or used cars in Townsville

You can be approved for a brand-new vehicle purchased at a dealership or a used car from a dealer or private sale in Townsville, giving you more options to choose from.

Include on-road costs in your car loan

It isn’t just the full value of the car you can cover with your loan, however, but also a range of on-road costs such as stamp duty, vehicle registration and even comprehensive car insurance.

Buy for private or business use

Car loans aren’t limited to those for private use, either, with chattel mortgages available for owners and operators who need a set of wheels for their business.

Why apply for your car loan with Savvy?

Top tips for cutting down on the cost of your car loan

Pay a deposit

If you have any savings you’re willing to put towards your car loan, doing so can help you save hundreds of dollars, if not more, over the span of your car loan. A deposit is essentially an interest-free contribution, meaning it’ll reduce the balance on which you have to pay interest. For instance, a $50,000, five-year loan at 7.5% p.a. would cost over $1,000 less with a $5,000 deposit.

Work on your credit score

One of the key areas lenders look to when considering car loan applications is your credit rating. This gives them an indication of how you’ve gone repaying similar debts in the past. You can improve your credit score before you apply by paying off any existing debts which may be outstanding or reducing the limits on your credit cards, which can in turn lower your interest rate.

Choose as short a term as you can manage

The shorter your car loan term, the less it’ll cost you overall. This is because of the way interest is calculated on car loans, which is based on the amount outstanding each day. As such, while a $30,000 car loan over five years at 7.5% p.a. would cost you just over $6,000 in interest overall, cutting that down by a single year to a four-year loan would save you over $1,200.

Compare your offers carefully with Savvy

Perhaps the simplest way to help you reduce the cost of your car loan is to compare your options thoroughly. By applying with Savvy, your consultant will take the guesswork out of picking the most affordable car finance deal, comparing offers from our vast range of lenders to narrow down which is the cheapest in terms of interest and fees and is most suitable for you.

Common questions about car loans in Townsville

Can I get a car loan in Townsville if I have bad credit?

Yes – there are options available to those who have struggled with credit in the past when it comes to financing their vehicle. If you’ve found yourself in this position, it’s worth speaking to your Savvy consultant about your available car loan offers.

Can I count multiple income sources towards my car loan?

Yes – car loan applicants can include a variety of income sources in their application, provided that they’re stable and can be relied upon throughout your term. These may include full-time, part-time, casual and even self-employed income. In some cases, you may be able to include Centrelink income as part of this application, which can include disability support payments, aged and veterans’ pensions and carer payments.

Will I be able to get pre-approval on my car loan through Savvy?

Yes – we can help you get your car loan pre-approved. There are many advantages to getting car loan pre-approval, such as giving you a clear understanding of your budget upfront and a firmer hand when it comes to negotiating the cost of your car with the seller (if they know you’ve been conditionally approved for $35,000, for example, they know they won’t be able to go much higher). However, pre-approval isn’t a guarantee of formal approval. Speak with your Savvy consultant to find out more about getting pre-approved.

Do I have to purchase a vehicle in Townsville to get car loan approval?

No – we can help you get approved for finance for any vehicle across the country, new or used, not just in Townsville. Our in-house car broker can also help you source the vehicle itself, making the whole car-buying process even easier for you. This means you can get a loan for a Sydney car, even though you’re thousands of kilometres further up the east coast.

How much will I be able to borrow for my car loan?

How much you can borrow will depend on a variety of different factors, meaning you won’t necessarily be approved for the same amount as the next person. Some of the key factors which will play a role in determining your borrowing power include:

  • The stability of your income and employment
  • Your credit history
  • Your expenses
  • Your residential history
  • Your record repaying similar past loans

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