Cars & SUVs
Finance a new or used vehicle for personal or eligible business use, subject to lender and vehicle requirements.
CAR & TRUCK FINANCE
Car & Truck Finance Structured Around the Way You Use Your Vehicle.
Whether you're buying a family car, work ute, van or heavy commercial truck, the finance structure can affect your repayments, cash flow and total cost. We help you compare suitable vehicle finance options, understand balloon payments and choose a structure that fits the way the vehicle will be used.
VEHICLE FINANCE OPTIONS
Finance for More Than Just Cars
Vehicle lending can be structured for personal, business or commercial use depending on the borrower, vehicle and purpose.
Utes & Vans
Finance work vehicles used by trades, service businesses, delivery operators and other commercial users.
Heavy Trucks
Funding may be available for prime movers, rigid trucks, tippers and other commercial transport vehicles depending on the lender and business profile.
Refinance Existing Vehicle Debt
Existing vehicle finance may sometimes be refinanced where the current facility, term or structure no longer suits the borrower.
HOW VEHICLE FINANCE WORKS
A Straightforward Process With the Right Information
Vehicle finance is generally simpler than property lending, but lender requirements still vary by vehicle, borrower and use.
1
Choose the Vehicle
We look at the purchase price, age, type of vehicle, dealer or private sale and whether the vehicle will be used personally or in a business.
2
Decide Your Contribution
You may choose to contribute cash, use a trade-in or finance a larger portion of the purchase price subject to lender requirements.
3
Select the Loan Term
The loan term affects the repayment amount and total interest cost. A longer term usually means lower repayments but more interest overall.
4
Consider a Balloon
A balloon or residual can reduce regular repayments but leaves an amount owing at the end of the loan term.
5
Compare Lender Options
We compare suitable options based on vehicle age, loan amount, borrower profile, use and proposed finance structure.
6
Approval & Settlement
Once approved and documentation is complete, the lender can arrange payment to the dealer, vendor or relevant party.
BALLOON / RESIDUAL PAYMENTS
Lower Repayments Now Can Mean a Larger Payment Later
A balloon is an amount intentionally left outstanding at the end of the loan term.
Because you are not fully paying down the loan during the term, regular repayments can be lower than an equivalent loan with no balloon.
However, the balloon still needs to be paid, refinanced or otherwise dealt with at the end of the agreement, and total interest can be higher.
Compare repayments with a balloon →BEFORE CHOOSING A BALLOON
Consider the full loan, not just the repayment.
01
Regular repayment amount
02
Total interest over the term
03
Amount remaining at the end
PERSONAL OR BUSINESS USE?
How the Vehicle Is Used Can Affect the Finance
Personal vehicle lending and business-purpose vehicle finance can involve different products, documentation and lender assessment methods.
Personal Vehicle
A vehicle used primarily for personal purposes may be financed under a consumer vehicle loan, subject to responsible-lending assessment and lender criteria.
Business Vehicle
Business-use vehicles may potentially be financed through commercial asset-finance products depending on the borrower, use and lender.
Heavy Commercial Vehicle
Trucks and specialised transport vehicles may require lenders experienced in commercial asset finance and specific industries.
Taxation, GST and depreciation treatment depend on your individual circumstances and should be discussed with your accountant or tax adviser.
NEW OR USED?
The age of the vehicle can matter.
01
Vehicle age at purchase
02
Expected age at end of loan
03
Vehicle type and resale market
VEHICLE ELIGIBILITY
Older Vehicles Can Have Different Lending Rules
Lenders can apply maximum vehicle-age limits at the start or end of the proposed loan term.
A newer vehicle may provide access to a broader range of finance options, while older, specialised or high-kilometre vehicles may have more restricted lender choices.
This is especially relevant for used trucks and commercial vehicles where purchase price, age and expected useful life can vary significantly.
RUN THE NUMBERS
Compare Repayments Before You Commit
Use our vehicle finance calculator to compare loan amounts, terms, repayment frequencies and balloon structures.
Car or Truck Repayments
Estimate repayments for a car, ute, van or truck loan.
Open calculator →Compare Balloon Options
See how a balloon or residual may affect regular repayments.
Open calculator →Structure the Loan
Consider purchase price, trade-in, loan term and balloon together rather than focusing only on the monthly payment.
Compare the full structureWHY TULIP FINANCE
Vehicle Finance Should Suit the Vehicle and the Way You Use It.
A family car, work ute and heavy commercial truck are not the same lending scenario. Different lenders can have very different appetite for vehicle age, business type and loan size.
We help compare suitable options and explain how the term, rate, balloon and overall loan structure affect the real cost of financing the vehicle.
Learn more about Tulip Finance →CAR & TRUCK LOAN FAQs
Questions Before You Finance a Vehicle?
These are some of the common questions borrowers ask about vehicle finance.
Can I finance the full purchase price of a vehicle?
Potentially. The amount available depends on the vehicle, borrower, lender and overall transaction. Some lenders may also allow certain related costs to be financed.
What is a balloon payment?
A balloon is an agreed amount left owing at the end of the loan term. It can reduce regular repayments but increases the amount that remains to be dealt with later.
Can I finance a used car or truck?
Yes, subject to lender policy. Vehicle age, condition, purchase source and expected age at the end of the loan can affect available options.
Can I finance a vehicle purchased privately?
Some lenders allow private-sale vehicle finance, although additional verification, valuation or settlement requirements may apply.
Can a business finance a truck or work vehicle?
Potentially. Commercial vehicle finance can be available for eligible businesses depending on the asset, business profile, use and lender requirements.
Is a larger balloon always better because repayments are lower?
No. A larger balloon can reduce regular repayments but leaves more debt outstanding and can increase total interest. The end-of-term amount also needs to be planned for.
FOUND THE VEHICLE?
Let's Work Out the Finance Before You Sign.
Tell us the vehicle, purchase price, deposit or trade-in and how it will be used, and we can help you understand the available finance options.
Information on this page is general in nature and does not take into
account your individual objectives, financial situation or needs.
Vehicle-finance rates, fees, loan terms, balloon requirements,
vehicle-age restrictions and credit criteria vary between lenders.
A balloon reduces regular repayments but leaves an amount outstanding
at the end of the loan and may increase total interest costs.
Please refer to our Disclaimer and Credit Guide for further information.