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, terms and conditions. See below for details.
Subject to lending criteria, terms and conditions. See below for details.
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 Finance 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 BetterCredit app.
Through bank-grade security, secure logins and 256-bit SSL data encryption, checking your credit score in the BetterCredit 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 Finance, 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 Finance 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.
A car loan is a fixed-term loan used specifically for buying a car. We pay the seller directly then you repay the amount you’ve borrowed through regular installments. Our online application process is designed to be fast and straightforward. Repayments remain consistent throughout the loan term so you can plan your budget with confidence.
Applying is Quick & Easy
Ready to get started? Click here and apply now.
With a Jacaranda Finance car loan, you can borrow up to $3,000-$30,000 and pay it back over 25 months - 48 months.
By submitting a full application for a car loan, you are authorising a hard credit check. This means that other lenders will be able to see that you applied for a loan and could impact your credit score. Before you submit a full application with Jacaranda Finance, you can check if you qualify with no impact on your credit score*. This is called a soft credit check, and is only visible on your credit report to you.
How can I check if I qualify for a car loan?
If you’re considering applying for a loan with Jacaranda Finance, you can check if you qualify with no impact on your credit score*.
We understand that life moves fast. That’s why we do too. Apply before 3:00pm and Jacaranda Finance will give you a same day outcome2 on your loan application. Once approved, your funds will be transferred in 60 seconds3. This means you could apply, have your application assessed and receive your funds all within the same day.
It depends on how much you’re borrowing.
At Jacaranda Finance, if you’re looking to borrow less than $10,000, comprehensive insurance isn’t required as a condition of the loan – although we strongly recommend having appropriate cover to protect yourself and your vehicle.
If you're looking to borrow $10,000 or more, you’ll need to have comprehensive car insurance before your loan can be finalised. This is because your car is used as security for the loan, it must be protected against damage, theft, accidents or write-off. Before your loan can be finalised, you’ll need an active comprehensive insurance policy with at least $10,000 in cover. Your insurance needs to start from the day you take possession of the vehicle.
Is third-party insurance enough for a car loan?
If you’re looking to borrow less than $10,000, comprehensive car insurance is not a requirement for your loan. If you’re looking to borrow $10,000 or more, you must have comprehensive insurance, which covers damage to your own vehicle as well as other vehicles and property.
If you have any questions about what level of car insurance you require, including if you’re unsure whether your current car insurance policy meets these requirements, get in touch with our friendly customer support team.
Once you’ve been approved and have accepted your loan contract, we’ll automatically attempt to release the money to your account. Most customers get paid in 60 seconds3.
Using our loan repayment calculator you can estimate your repayments before applying.
Missed Payment Fees
For every missed payment, a fee will be applied. This cost is added to the account balance and can be paid with the next repayment cycle. If you’re concerned you’ll miss a repayment before the next due date, please contact our customer support team as soon as possible.
$3,000 - $25,000
