The amount of car finance you can borrow depends on several factors, including your income, credit history, existing debts, and the vehicle’s value. Lenders assess your repayment ability by reviewing your finances and setting limits based on a percentage of the car’s value. Use our serviceability calculator to estimate borrowing potential or visit our quote tool for a range of rates and repayments. To speak with an Australian-based broker, request a callback or call 1300 787 288.

Yes, you can refinance a car loan, which allows you to switch to a new loan that may offer better terms, such as a lower interest rate or longer repayment period. To discuss your situation and your option, contact a Stratton Finance broker today. 

Residual values and balloon payments refer to a lump sum due at the end of a car finance term. While often used interchangeably, they do slightly differ. Residual value is based on the car's estimated market value at the end of the agreement, and commonly found with a lease agreement. Whereas a balloon payment is set at an agreed amount to pay out at the end of the agreement, and typically found in car loans. Both options reduce your regular payments but require a larger payment at the end, which you can either pay off, refinance, or use to trade in the vehicle.

Secured car finance is a type of car loan where the car serves as collateral, providing the lender with security if payments aren’t made. By securing the loan with your vehicle, the lender's risk is reduced, often leading to advantages over an unsecured loan or personal loan. These advantages may include lower interest rates, higher borrowing limits, and longer repayment terms, making secured car finance a more attractive option for financing your vehicle.

Unsecured car finance, commonly referred to as a personal loan, allows you to borrow funds to purchase a car without holding security over the loan (unlike a Secured Car Loan). A benefit unsecured car finance/personal loans typically offer is flexible terms, ranging from 1 to 7 years. Unsecured car finance is an excellent option if the vehicle you want or your personal circumstances don’t qualify for a secured car loan.