FAQ: Who is eligible for a Car Loan, and who do they suit?

FAQ: Who is eligible for a Car Loan (Consumer Loan), and who do they suit?

A Car Loan is best suited to a person who uses their vehicle for predominantly personal purposes and does not have the option of salary packaging a car through a Novated Lease. A Car Loan is generally preferable to a Personal Loan for the purchase of a car, as Car Loans are secured against the vehicle and hence attract lower interest rates.