Home > Blog Posts > Cheap Car Loans with Jacaranda Finance
Cheap Car Loans with Jacaranda Finance
November 25, 2019● 8 minute read●
On the hunt for a car loan?
Looking to treat yourself to a shiny new ride, replace a broken one, or just get some extra space for the kids? Well, you’ve come to the right place. Looking for a car is exciting but as it’s one of the biggest financial decisions many of us will make, it’s important to do your research. At Jacaranda, we make looking for car finance that bit easier by offering affordable car loans 100% online. So, while we don’t claim to offer cheap car loans, we can offer you affordable and convenient car finance from $5,000 to $35,000. Not convinced yet? Keep reading to find out more!
Jacaranda Finance is a lender with a difference. We are the local lender that Aussies call on when they need a fair deal on a cheap car loan. We pride ourselves on providing a seamless online process. Our team won’t waste your time. We cut straight to the chase. When you submit an application for a cheap car loan our team will get straight to work assessing your application in order to give you a speedy outcome.
We believe in speedy service which means you could have an outcome on the same day you apply (if you apply during AEST business hours). The best part is, you won’t even have to step foot outside your house. You could apply from the comfort of your own living room! Our 100% online application form could only take you a matter of minutes to complete. If your application is successful there is no pressure to accept an offer. After all, if you’re not happy with the affordable finance solution we offer you, you can just say no.
What are cheap car loans?
A cheap car loan is essentially a car loan with low or no costs associated. At Jacaranda, we do not claim to offer cheap car loans or low-interest car loans. What we do offer, however, is convenience, simplistic and affordable finance options. We offer car loans from $5,000 to $35,000 with a loan term of 1-4 years.
So, while we cannot guarantee cheap car loans, we can guarantee you a fair go. Our team works hard to find you a compatible loan product for your personal financial circumstances. The good news? If you apply during AEST business hours, our team may get back to you with an outcome on the same day you apply.
How can I get a cheap car loan?
We do things differently at Jacaranda. When you submit an application for our affordable car loans, our team will get straight to work assessing your application in order to give you a fast outcome. The best part is, you won’t even have to step outside your house. Our 100% online application allows you to complete it from the comfort of your own home, in just a few short minutes too.
Can I get a cheap car loan with bad credit?
If you get shivers down your spine just from hearing ‘credit score check’, then you’ll love our approach. Unlike traditional lenders, we don’t base our assessment solely off the result of a credit score check. We prefer to look at the bigger picture. Factors such as income, spending habits and pre-existing financial commitments all play a part in determining whether or not you are eligible for a car loan. So while we can’t guarantee bad credit car loans for all applicants, we can guarantee that we give every applicant a fair go when assessing their application.
Can I get a cheap car loan for a used car?
Purchasing your first ever car is an exciting, yet also scary experience. Especially if you’ve been saving for years and you’re only just getting into the car market. We know that no one wants to feel like they’ve just wasted their hard-earned cash. Don’t worry, Jacaranda makes getting a cheap used car loan as simple as ever. So if you’ve been saving for a car but don’t have all the funds upfront right now, then we could offer a used car loan to get you behind the wheel quicker!
What are secured car loans?
Secured loans require you to provide an asset as security. This could be a car, boat or any other assets with equity – you can use the vehicle you are buying as security for your loan. By showing proof of any of these assets, you are providing a greater sense of security to the lender. Any loan over $2,001 that is provided by Jacaranda is a secured loan. You can apply for a secured car loan from $5,000 to $35,000.
If there’s a chance you are unable to repay your loan, Jacaranda can repossess the asset. Don’t stress though! This is only done as a last resort.
Can I get a car loan If I’m a pensioner?
Yes! At Jacaranda, we don’t discriminate when it comes to applicants receiving a pension. We pride ourselves on giving everyone a fair go who applies. That means we can provide affordable car loans to pensioners, people on Centrelink and people with bad credit.
Can I get a car loan If I’m a student?
Students are busy – we get it. Not all of us have the time to search the web for hours for ‘cheap car loans’. Fortunately, you’ve come to the right place. With Jacaranda, an application could take you just a couple of minutes to fill out. Then all you need to do is sit back and relax while we assess your application. If you apply during regular AEST business hours, we could have an answer for you on the same day you apply. No paperwork, no queues, no stress!
Who is eligible?
The most important part – check if you’re eligible before you apply for online car loans! The following is a list of all our eligibility requirements that you’ll need to meet:
- Be 18 years or older with an active Australian mobile number and email address;
- Be an Australian Citizen or Permanent Resident;
- Have a driver’s licence
- Be receiving a regular income into a personal bank account (for at least the last 3 months);
- Have internet banking.
If you meet these criteria, then you’re eligible to apply for a car loan!
What information do I need to provide?
We stay true to our word – our application really is simple, quick and 100% online! That means no unnecessary documents and paper forms. You just need to fill out a few important personal and financial details, such as:
- 100 points of ID (name, D.O.B, etc.)
- Contact information
- The reason for your loan
- Internet banking details
- Your MyGov account details (if you receive Centrelink benefits)
- Employment details and employer contact information
Don’t stress about handing over your banking information. Our team will obtain a read-only copy of your bank statements to get a better understanding of your spending habits, income and existing financial commitments in order to determine whether or not you will be able to repay a car loan.
How do I apply?
More good news! Applying for any of our loans is again, quick and simple. We’ve provided you with these simple steps on how to do this:
Step one: Apply online
To start your application, simply scroll up to use our loan slider. Select the amount you’d like to borrow and the repayment period and click ‘Apply Now.’ Next, you’ll be directed to our 100% online application. Here, you’ll need to provide some personal and financial details. Make sure you fill out the required fields as thoroughly and as honestly as possible. When you’re finished, hit ‘Submit.’
Step two: We’ll assess your application
That’s it from you! We’ll take over from here. Once we’ve received your application, our team of loan specialists will get to work assessing it. In other words, just sit back and relax while we assess your application.
Step three: Review and sign your contract
If the Jacaranda team has been able to match you with a car loan, congratulations! We’ll then send you an electronic copy of your loan contract for you to review and sign. We recommend reading the terms and conditions thoroughly to make yourself aware of any fees and charges for late or missed payments. When you’re happy, e-sign it!
Step four: Get your cash!
Finally, as soon as our team receives a signed copy of our agreement, we’ll transfer your cash. If your bank is NPP-enabled, you could have the cash in your account in just 60 seconds*. Of course, this is all provided your contract is signed before the close of business.
Why choose Jacaranda?
At Jacaranda, we pride ourselves on providing a seamless online process. Let us fill you in on some of the reasons Jacaranda is one of the best lenders on the market.
Online based service and application
Not only are we 100% online, meaning no messy paperwork, but you don’t even have to leave the house to submit an application. You can apply from any device (smartphone, tablet, laptop) at any time of the day from the comfort of your own home.
It’s our aim to give everyone the fair go they deserve, but we can’t just lend to anyone. Jacaranda adheres to responsible lending guidelines. This means we conduct a full financial assessment of every application we receive, including a credit check on eligible applicants. We do this to ensure you can manage the car loan you’ve applied for. After all, we want to assist you financially, not make you worse off!
We’ll ensure you have all the information available to you before you commit to a loan. That includes fees, interest rate, repayment amounts and frequency etc. We also don’t charge a processing fee for submitting an application and we certainly won’t charge you an early settlement fee if you decide to pay off your loan early.
Ready to apply?
If you’re ready to get cracking on a car loan, it’s important to remember that Jacaranda does not claim to find cheap car loans. However, we will do our best to find you a cheap car loan solution.
You can use our car loan calculator to get an estimate of how much your repayments will be on a cheap car loan.
We’re hoping you now have all the information you need to make an informed decision about whether or not a car loan is the right decision for you. If you still have questions about cheap car finance, check out our FAQ page or send us a message here. Otherwise, go ahead and scroll to the top of this page to get started with your application!