Important information

Please be aware of the following;

Effective Immediately Tuesday 6th March 2012 Credit License Cancellation Lodged By Us With ASIC

Ability Finance have elected to cease all credit activities covered by ASIC credit licensing for various reasons including but not limited to;

  1. Lender commission cuts over the past few years.
  2. Additional liability, workload and costs arising from National Credit Licensing
  3. Lender minimum volume restrictions which result in smaller brokers not being able to offer all options to customers.
  4. Regularly encountered inexperienced lender staff who are unaware of their own employers policies whose advice wastes both broker and customers time and resources.
  • As a blog style website there is only historical content contained within this website that is out of date and no longer applicable. This content must only be used for historical reference purposes.
  • Ability Finance, through choice, no longer represent any lenders who may be historically referred to within this website.
  • No information or content contained on this site should be relied on as being current.
  • No content contained within this site should be taken as advice in any way at all.

Should you feel there is any content that should be removed from this site please contact the webmaster.
By any chance you feel specific content is interpreted as offering any credit activities by us it is to be ignored, please report to the webmaster for removal or modification.
If you are legally entitled to engage in credit activities and would like to advertise on this site please contact the webmaster.
If you would like a website developed or even to purchase this site modified to your requirements please contact the webmaster.
Meanwhile we are working hard at creating a one stop shop for purchasing high quality spray painting equipment online including an extensive range of the best spray gun models we are able to offer at discounted prices everyday right across the complete range of available spray gun models. Online spray gun prices with old fashioned personal service levels.

Car Loan

Generally allow at least 24 hours to get an approval. However some can often get approval within a shorter time frame if needed provided all the required information is available. Please consult minimum document check-list, this will help prepare the main documents needed to have car finance approved quickly.

If you haven't had finance before, we recommend obtaining a loan pre-approval. A pre-approval provides two important things - the confidence to negotiate your purchase knowing that your finance is already approved and the knowledge that you're shopping within your budget.

In many cases, you may not require a deposit, but if you wish to contribute a deposit this will reduce the overall cost of the finance.

Repayments can ususally be made by direct debit or BPAY on a weekly, fortnightly, or monthly basis for consumer loans. Business loans can be direct debited on a monthly basis or structured to suit seasonal needs.

A balloon or residual payment is a one off payment at the end of a loan term. A residual reduces the regular repayments amount during the loan term, meaning you may be able to afford a car that may ordinarily be out of your normal budget.

Leasing, Commercial Hire Purchase and Chattel Mortgage loans are available for vehicles that are used at least 50% for business use. Secured car loans (Consumer Mortgages) are designed for people seeking finance to buy a car for private use.

Never sign anything unless you fully understand what you are committing to. If in doubt always seek independent, professional advice before you sign anything.

Contracts and deposits

The NSW Department of Fair Trading has this to say in their car buyers hand book.

If you sign anything at a car dealership, it is probably a sale contract. You may also sign a loan application or loan contract on the premises. Contracts are legally enforceable. Read all the documents carefully. Do not sign anything unless you understand what you are agreeing to and you are certain you will be buying the car. If you have decided to buy a car but you need to have a loan approved first, make sure that it is written into the contract that completing the purchase is conditional on you obtaining the loan. If you have this specified in the contract and you cannot get a loan after reasonable attempts, you may be able to cancel the contract and have the deposit returned to you.”

Ability Finance can obtain competitive car loans, leases, novated leases, hire purchase, chattel mortgages and personal loan car finance for either new or used cars and most other types of motor vehicles Australia wide.

If you are seeking an online calculator to determine the repayment amount, the interest rate will be required. New car finance will generally have a lower interest rate to most used car finance and if there is any history of bad credit, finance may still be available although the interest rate may be higher depending on the circumstances.

Ability Finance can supply a car finance quote. We require information such as if the loan is for a new or used car and if it is to be a business motor vehicle, a car loan for self employed borrowers or if the car is entirely for personal use. We also need to know if the quote is for a vehicle being purchased from a dealer or via a private sale.

Ability Finance can obtain rates for a lease, novated lease, commercial hire purchase, chattel mortgage or personal loan that is tailored to meet your vehicle finance needs.

If you are purchasing a motor vehicle in NSW The NSW Department of Fair Trading has a guide available on their website.

The NSW Motor Traders Association has a code of conduct for its members available through the NSW MTA home page.