Buying a second-hand car?
If you’re buying your next car privately instead of from a dealership, then a Car Loan from Jacaranda Finance could be just what you need.
Apply today and drive away!
*Subject to lending criteria, T's and C's'
*Subject to lending criteria, T's and C's'
At Jacaranda Finance, we aim to eliminate the pain points of buying a car. The process of obtaining a car loan can often be quite long and frustrating.
If you're buying a used car from a private seller, a Jacaranda Car Loan can arm you with the confidence to walk in knowing what you can afford.
Apply for same-day pre-approval in minutes, and get ready to buy your next set of wheels today!2
With competitive interest rates and no hidden fees, our Car Loans are designed to be fast, fair, and, above all, affordable. See the table below for a quick guide to our fees and charges, or visit our fees page for more information.
There are two main paths to buying a car: purchasing privately or purchasing through a licensed dealership.
There are several key reasons you could want to choose the former: you can have more licence to haggle with the seller; you generally have a greater range of cars to choose from; and of course, there's a better chance you'll pick up a steal!
If you're applying for a car loan for a private sale, the process can involve a few extra steps compared to buying from a dealership. As dealerships are accredited to sell and the sale will be legitimate, we require an invoice from them before we transfer your funds (if you've been approved for a loan).
As private sales involve a few more unknowns, we generally require some extra information and documentation from both parties. For example, we will need the seller's ID and registration, and we'll need to verify their bank details. We may also require a roadworthy certificate for the car and a signed sale agreement, as well as some pictures of the vehicle (inside and out)
Once you've provided all this information and everything looks good, we will either reject or approve the loan and complete the funding process. Unlike a standard personal loan, the money will be sent directly to the seller, not to your own bank account.
| Pros | Cons | |
|---|---|---|
| Dealerships | Higher-quality cars are usually available Extra legal protections for customers Lower risk the vehicle still has finance on it Additional services available Generally faster to apply for a car loan Less paperwork required |
Fewer choices available Cars can be more expensive Dealers can try to pressure you into sales and buying unnecessary add-ons |
| Private sales | Cars can be cheaper overall Greater flexibility and choice More freedom to negotiate on price |
Fewer legal protections and warranties for customers More responsibility on you and the seller (more paperwork) Higher chance the car could be encumbered Easier to get wrong if you're not familiar with the process |
We go above and beyond to protect your information and data in the Better Credit app.
Through bank-grade security, secure logins and 256-bit SSL data encryption, checking your credit score in the Better Credit app is completely safe.
See here for more information on data security, or contact our customer service team if you have any further questions.
We know how important it is to receive your funds in a timely manner. As a hard-working Australian, you don’t have time to waste on needless paperwork.
That’s why our loan application process has been perfected over time to be as simple and quick as possible. With Jacaranda, you can get conditional approval in minutes, not days.
Haven't got a car in mind yet? Jacaranda Finance offers pre-approval on a car loan for up to seven days. This pre-approval will outline exactly how much you can borrow for a used car and what your repayments will be, as well as your potential interest rates and fees.
Going down this route can give you the opportunity to shop around for the right car. It can also help your application proceed more smoothly than applying for a loan after finding a car.
We'll quote you a maximum loan amount and a repayment amount in your pre-approval. You'll then need to go out and select a vehicle. We may then require the following information:
A Private Car Loan from Jacaranda can provide the following benefits:
Jacaranda Finance is reporting data under the Comprehensive Credit Reporting (CCR) regime.
This means that your credit behaviour, such as making timely repayments and managing your loans responsibly, will be reported, potentially strengthening your credit profile.
Read some of our most frequently asked questions below to learn more about Jacaranda and our Car Loans.
Jacaranda offers two loan products with varying loan amounts that you could borrow:
These two loan products also have varying loan terms:
For detailed information about who our products are designed for, please review our Target Market Determinations.
In addition to qualifying, we have specific requirements for car loan applicants. Generally speaking, however, the car will be eligible as long as it's roadworthy and fits within our maximum loan amount.
There are additional documents we may require about the car, depending on whether you’re buying through a dealership or a private sale. Dealerships generally require fewer documents due to the reduced risk to both the borrower and the lender. See our page on car loans through private sales vs dealerships for more information on the documents we need.
Get in touch with us if you have any questions about whether the car you want is likely to be eligible.
Technically, our pre-approval lasts for seven days, after which you'll need to contact us to renew it.
Thanks to our fast processing times, seven days could be enough for you to finish the paperwork on your new car, but if not, don't stress! We’ll keep in contact with you during your pre-approval, and if you need extra time, we can easily extend it.
Before you formally apply with Jacaranda, you can check if you qualify for a loan in a way that does not impact your credit score. We do this by performing a 'soft' credit check that is only visible to you.
If you don't meet our initial criteria, your credit score won't be affected.
Once you've checked your eligibility and we've let you know that you do qualify for a loan, you have the option to move forward with a full application.
We will perform a credit assessment during this process, which involves checking your credit report. By submitting a full application, you authorise Jacaranda Finance to obtain a copy of your full credit file, referred to as a 'hard' credit check.
Other lenders will be able to see that you applied for a loan with Jacaranda.
This might impact your credit score.
Review our Privacy Policy for more information.
Visit our rates and fees page to get an idea of the costs associated with our loan products.
The interest rate, fees and charges applied to your loan will depend on your individual circumstances and the information verified during the loan assessment. It will also depend on our assessment criteria, loan amount, and loan term for which you qualify.
Use our loan repayment estimate calculator to get a guide on what your repayments could be.Â
We only accept loan applications online via our online application form on our website or the Better Credit app. We're 100% online, so there are no other ways to submit an application.
If you're considering applying for a loan with Jacaranda, you can first check if you qualify in a way that does not affect your credit score.We only offer fixed-rate loans. See our guide to fixed vs. variable interest rates to learn the differences between the two.
Use our loan repayment estimate calculator to get a guide on what your repayments could be. To get an idea of what rates, fees and charges are associated with our loan products, visit our rates and fees page.
$3,000 - $25,000
