Frequently Asked Questions:
Applications and Approvals
A car loan enables you to borrow a specific amount of money to assist you to purchase a vehicle. As a loan secured against the vehicle you purchase, there is interest to be paid, but it is generally a lower rate than an unsecured loan would be, as there is less risk to the lender.
To secure the loan, the lender uses the asset as security, meaning if you don’t make your repayments, the lender may take possession of the vehicle and sell it to cover some of the loan. All vehicle loans via Intrinsic Finance are secured against the vehicle you purchase.
We do not offer unsecured loans for cars. As the lender, Intrinsic Finance will have a registered interest in the vehicle on the PPSR.
The money you borrow is paid directly to the dealership and the dealership delivers the vehicle to you.
Financing may be the best choice if you need a car now but do not have enough savings to pay cash.
A car loan will bridge the gap between your savings and the car of your dreams.
Think about how much money you spend on maintaining and repairing your current vehicle (if you have one) or using rideshare or taxis to get around. These amounts might be better spent by putting them towards paying off the loan on your new car.
Buying a car on finance can be a quick and secure way to obtain a vehicle you want.
Successfully paying off a loan may also increase your credit score, improving your chances of obtaining another loan in the future, or at a better rate.
The best financing option depends upon your personal preferences and individual financial circumstances. Intrinsic Finance offers a variety of financing options that can spread the purchase costs over a manageable period to suit our customer needs.
Yes, you can! At Intrinsic Finance, we’ll review your current situation and ability to manage your car loan repayments and other commitments when evaluating how much credit you can safely manage.
We operate under an Australian Credit Licence and could offer you the right car loan suited to your financial circumstances.
Bad circumstances can impact good people – we recognise that at Intrinsic Finance. To help you get a car loan approved with a poor credit history, you should:
- Be able to demonstrate a regular and consistent minimum income – Centrelink benefits may form part or all of your income.
- Be honest in your application.
- Avoid heavy gambling or regular spending on things you may not really need.
Our focus will be on your current financial situation and your ability to manage the loan repayments comfortably over the loan term.
You can apply for a car loan even if you are:
- A self-employed worker.
- A single parent.
- A student with regular income.
From small used car loans to larger car loans – what matters is what you can afford and how you manage your money.
- You may be more likely to get approved for a car loan with a specialist lender like Intrinsic Finance, over a bank with traditional lending criteria.
Get your application for a car loan started online by completing the short form here.
Your application enquiry should take about 5 minutes. We’ll then review all your details and make sure any loan offer is affordable for you. Once you have your loan pre-approval offer, you can start shopping for a suitable vehicle.
How much you can borrow for a car loan may depend on your current financial situation and your ability to manage loan repayments over the loan term.
At Intrinsic Finance, we have car loans starting from $7,500.
Fees and Repayments
There will be a loan application process, some upfront fees and interest. A maximum of $50,000 may be available depending upon your needs and what you can afford to repay.
We like making things simple and easy. We’ll always be transparent about any additional costs or fees. Please view our Fees Statement for more information.
Yes, you can. There is a penalty for early repayment, please refer to our Fees Statement.
Please check out our Car Loan Calculator for a general guide of repayments for different loan amounts with us. Our calculator considers your car loan interest rate and other ongoing fees so that you can compare car loans effectively.
If you miss a payment don’t worry, it happens! Please ensure you have the funds in your account and either send us a direct transfer or call 1300 463 466 to discuss your payment options.
If you believe you won’t be able to meet the required payments please contact our Customer Care Team or customercare@intrinsicfinance.com.au.
Intrinsic Finance will work with you to resolve the issue. We’ll contact you to try and sort out an affordable arrangement. It’s best to always communicate with us if you are having trouble repaying so we can come up with a plan together. See our Fee Statement for further information.
If you have a vehicle with us and your repayments have fallen behind, or if you have an upcoming payment you know you won’t be able to make, please contact us at your earliest convenience. The earlier we know what’s going on, the more we can do to help.
Your responsibilities include:
- Making your payments by the agreed date;
- Arranging comprehensive vehicle insurance before you pick up the vehicle, noting Intrinsic Finance as an interested party;
- Keeping the vehicle in a clean, roadworthy condition;
- Ensuring the vehicle is serviced at scheduled intervals;
- Arranging your own roadside assistance (RACQ / RACV / NRMA or equivalent)
