USED CAR LOAN
Need finance for a used car?
Used Car Loans or Second-hand Car Finance -
AFS is the lender of choice for discerning buyers when it comes to used cars. AFS has no restriction on type or age of vehicle and we will finance the car of dreams whether you decide to buy from a car dealership, auction house or from a private vendor.
More about Used Car Finance
Since 1988, AFS has been providing finance for the purchase of used vehicles and second-hand cars.
We understand that buyers of used cars are price conscious and discerning when it comes to the mechanical status of their potential purchase. Buyers often spend invaluable hours of time researching the history & condition of the car they want to buy, so the last thing you need is for a financial institution to tell you that the car is outside their lending criteria. At AFS, we aim to finance any roadworthy type of used car, irrespective of its origins, age or odometer. Whether you need a loan for used passenger vehicle or a classic sports vehicle, AFS will be able to assist you and provide a very competitive interest rate and loan structure. So why not ask our specialist about the car you're interested in financing.

Used Car Finance Essentials

Interest Rates from:

8.95% p.a.* Fixed Rate

10.21% p.a.^ Comparison Rate

  • Borrow between $5,000 to $130,000 for a pre-owned used car
  • A great interest rate: Compare us to your bank
  • Fixed interest rate for the life of the loan
  • Pay as frequently as you like: weekly, fortnightly or monthly
  • Choose a term from one to five years. Seven year terms on request only
  • Make extra payments when you like
  • Ability to purchase your car from a dealer, auction house or private vendor
  • No restriction on the age of the car you want to purchase

* Interest rate (Annual Percentage Rate/APR) is only applicable for pre-owned registered vehicles , where the amount borrowed is greater than $35,000 and where the applicant owns or is buying their home and has an established good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on the applicant's credit score and associated credit risks. Credit provider is Automotive Financial Services Pty Limited – Australian credit licence 383762. ^Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. 

Fixed Rate Loan

from
8.95%
p.a* 

Interest Rate
from
10.21%
p.a^

Comparison Rate

1–5
years

Loan Term
$5,000
to
$130,000

Loan Amount
Weekly
Fortnightly
Monthly
Repayment Frequency

Fees

Fees that will apply on settlement

The following upfront credit fees and charges are payable to AFS on the settlement date of the loan.  They are only payable if you proceed with the loan and are included in the amount of credit

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FEE TYPE DEFINITION AMOUNT
Establishment Fee Represents the reasonable cost for AFS to peovide credit to you $395
Credit Search Fee Represents the reasonable cost for AFS to conduct the necessary credit bureau searches per applicant $6.37
Security Registration Fee Represents the reasonable cost for AFS to register our financial interest in the goods $8

The following credit fees and charges are payable to AFS during the term of the loan.

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FEE TYPE DEFINITION AMOUNT
Monthly Administration Fee Represents the reasonable monthly cost for AFS to administer your loan whilst active $10

The following credit fees and charges may become payable to AFS during the term of the loan.

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FEE TYPE DEFINITION AMOUNT
Early
Termination Fee **
Represents the fee that will be payable when you pay out your loan contract in full before the expiration of the term of the loan. The amount of the fee as at the disclosure date if $600 and thereafter the amount of the fee is $600 multiplied by the number of unexpired whole months in the term of the loan at the time this contract is paid out and divided by the number of whole months in the the term of the loan $600 reducing monthly
Dishonour Fee Represents the reasonable cost for AFS to process the dishonour of a loan repayment on each occasion $12
Repayment Book Fee Represents the reasonable cost for AFS to generate and issue a new repayment book on each occassion $35

Fees and Charges disclosed above are current as at 1st November 2018 but may change from time to time. Other fees and charges may be payable. Please review the credit fees and charges detailed in the pre-contractual statement for the specific loan that you have chosen.

* Interest rate (Annual Percentage Rate/APR) is only applicable for pre-own registered vehicles, where the amount borrowed is greater than $35,000 and where the applicant owns or is buying their home and has an established good credit history. Finance subject to approval, including the application of applicable lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on the applicant's credit score and associated credit risks. Credit provider is Automotive Financial Services Pty Limited – Australian credit licence 383762. ^Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. 

** Only applicable for the AFS Loan Contract & Mortgage product. Please read the relevant product Terms & Conditions and pre-contractual statement (if applicable) if you are considering another loan product or lease.

~ If you use a licensed finance broker to assist you apply for credit there may be other fees and charges payable, such as a Finance Broker Fee or Origination Fee. AFS enables you to finance an Origination Fee as part of the Amount of Credit up to a maximum value of $990 including GST. An Origination Fee represents the finance broker's fee to provide credit assistance to you. It is a one off fee that is only payable if you proceed with the suggested credit contract. Under the National Credit Code, a Finance Broker is required to give you their Credit Guide, a Credit Quote and, at the same time as providing credit assistance to you, give you a Credit Proposal Disclosure document which will detail all the fees and charges payable and if any commission will be received by the finance broker.

There are currently no special offers.
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Applying for a car loan online is fast and easy with AFS.

What's more there are no fees or charges payable to apply, even if you're approved!. Fees and charges are only payable if you decide to proceed with the loan and these can be financed.

Simply select any "Apply Now" button to get underway.

Used Car Finance Benefits

  • Get Pre-approved: Ability to obtain a conditional approval (or pre-approval) so you can negotiate with confidence
  • Fixed Interest Rate: Secured Car Loan with fixed interest rate for the term of the loan.
  • Low Interest Rates: Competitive Interest Rate, particularly for older cars when compared to the interest rates offered by the Banks for their personal loan products.
  • Any Model of Car: No restriction on type or model of car, except for vehicles designed to be used for racing.
  • Any Age of Car: No restriction on how old a car is. Buy the car you love.
  • No Deposit Finance Available: In general, no deposit is required where we've already negotiated a good price for the car you want to buy.
  • Buy from any Vendor: Ability to purchase through a car dealer, auction house or private seller.
  • Car Insurance: Ability to finance your comprehensive insurance as part of the loan.
  • Arrange through your party of Choice: Arrange direct with AFS, through your finance broker or the car dealer (if accredited with AFS).

 

Am I able to get finance for any used car?

Yes. Unlike the asset finance divisions of most banks and lenders, AFS does not have a restriction on financing particular vehicle models or have an age restriction. Either directly or through accredited finance brokers, we have financed most of the various vehicle types that Australian's look to purchase.

An independent valuation of many vehicles can be provided by valuation specialists such as Glass's Guide and Redbook.

AFS subscribes to Glass's Guide which is used by most banks and car dealers across Australia and we provide access to you on our website - free of charge! 

Try our valuation tool now:

AFS Valuation Tool

 

AFS enables you to borrow between $5,000 and $130,000 depending on our assessment of your capacity to repay and current circumstances. Loan terms range between 12 months and 60 months (or longer if you have good credit) and we can even finance your comprehensive insurance so that you know your car will be covered at all times. 

No. The same fees and charges apply to a used car loan as they do for a new vehicle.

 

To learn more about our fees & charges go to:

AFS Fees & Charges

Can I use a finance broker to obtain a loan for a used car?

Yes. The AFS Used Car Loan product is used extensively by finance brokers, particularly when it comes to used cars or older vehicles, imported cars, and classic cars. 

Also if you were to arrange a loan through your bank, if the vehicle is over 7 years of age then the relevant product is an unsecured personal loan which is often more expensive than their standard car loan product.

Please note that if you use a finance broker you may be charged an origination fee which is separate to the AFS Fees & Charges but can also be financed as part of your loan. If you use a broker, you should ask for a copy of their credit guide and obtain a credit quote from them.

 

Dealer, Auction, Private Sale
Shop where you like to get the best deal
More than Cars!
Finance also available for motorbikes, boats, PWC's, caravans & camper trailers
No Age Restriction
Vintage, Classic, Unique, Restored & Imported - AFS has no restriction on type or age of goods.
Fixed Interest Rate
A fix interest rate protects you against market fluctuations & you can budget with confidence.
Learn more about
AFS Interest Rates
Check out our Interest Rates for our fixed rate loans for either personal use or business use.
Learn more about
AFS Fees & Charges
Check out AFS' Interest Rates below for our fixed rate loans for either personal use or business use. Learn more about our loans.
To understand more about AFS' secured Personal Loans, review our 4 consumer products

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