Car & Vehicle Finance
Car Finance for Personal and Business Needs
Whether you are buying your next family car or upgrading a work vehicle, OCEAN Lending can help compare suitable finance options and explain the repayments, fees and loan structure before you commit.
Understanding Vehicle Finance
Car Finance Should Fit More Than Just the Monthly Repayment
Vehicle finance can look simple at first glance, but the overall cost can vary depending on the interest rate, loan term, fees, deposit, balloon or residual amount and whether the vehicle is for personal or business use.
OCEAN Lending helps you look beyond the headline repayment and understand how the finance is structured over the full loan term.
We can assist with finance for new and used vehicles, subject to lender policy, the age and type of vehicle and your individual circumstances.
Vehicle Finance Options
Finance for Different Vehicle Needs
The most suitable structure depends on how the vehicle will be used, who is purchasing it and your broader financial circumstances.
Personal Car Finance
Finance for a new or used vehicle purchased for personal or family use, subject to lender eligibility.
Business Vehicle Finance
Vehicle finance options may be available where the car, ute, van or other eligible vehicle is being purchased for business purposes.
New Vehicles
Arrange finance for a new vehicle before or after negotiating the purchase, subject to lender requirements.
Used Vehicles
Finance may be available for eligible used vehicles, with lender policy often depending on age, value and vehicle type.
Electric & Hybrid Vehicles
Selected lenders may offer vehicle finance for eligible electric and hybrid cars, subject to their current product and credit criteria.
Dealer Finance vs Broker Finance
Compare the Finance Before You Sign at the Dealership
Dealership finance can be convenient, but convenience does not necessarily mean the overall loan structure is right for you. Comparing finance before signing can help you understand the full cost and whether another option may better suit your circumstances.
- Compare the interest rate
- Check establishment and monthly fees
- Understand the repayment term
- Check whether a balloon or residual applies
- Review early payout conditions
- Consider the total amount repaid
- Understand whether add-on products are included
- Make sure the structure suits your future plans
Our Process
A Straightforward Car Finance Process
Tell Us About the Vehicle
We start with the vehicle, purchase price, intended use and how much you are looking to finance.
Review Your Position
We consider your income, commitments and the information lenders are likely to require.
Compare Suitable Options
Relevant lenders and structures can be compared based on rate, fees, term and your circumstances.
Application & Settlement
We help prepare and lodge the application and work through the lender’s approval and settlement requirements.
Frequently Asked Questions
Car Finance Questions
Can I arrange car finance before I choose the exact vehicle?
In some circumstances you may be able to obtain an indicative approval before finalising the vehicle. Final approval will generally remain subject to the chosen vehicle and lender requirements.
Can OCEAN Lending finance a used car?
Potentially, yes. Used-vehicle finance depends on the lender, the vehicle’s age, type and value and your overall application.
Can I finance a vehicle for my business?
Yes, business vehicle finance may be available for eligible applicants and vehicles. The appropriate structure depends on the business and intended use, and taxation advice should be obtained where relevant.
What is a balloon payment?
A balloon or residual is an amount left owing at the end of the loan term. It can reduce regular repayments during the loan but creates a larger final amount that must be paid, refinanced or otherwise addressed.
Is dealer finance always more expensive?
No. Dealer finance is not automatically better or worse. The important step is to compare the rate, fees, term, balloon, conditions and total repayment before making a decision.
Is car finance approval guaranteed?
No. Finance is subject to lender eligibility, serviceability, credit assessment, vehicle requirements, verification and formal approval.
Buying or Upgrading a Vehicle?
Talk to OCEAN Lending before you sign the finance paperwork. We can discuss the vehicle, purchase price and loan structure and compare suitable finance options available through our lender panel.
Email: scott@oceanlending.com.au
The information on this page is general in nature and does not take into account your objectives, financial situation or needs. Vehicle finance products, rates, comparison rates, fees, terms, balloon or residual arrangements, security requirements and lending criteria vary between lenders and are subject to change. Finance is subject to lender assessment and approval. Obtain taxation or accounting advice where relevant to business vehicle finance. OCEAN Lending is a registered Trading Name of HBF Finance Pty Ltd. HBF Finance CCR No. 428493 of Buyers Choice Licensing Pty Ltd, ACL 509484. Scott Prosser CR No. 428685.