Frequently Asked Questions
Frequently Asked Questions About Car Finance
Car finance refers to borrowing money to purchase a vehicle, either through a loan or lease agreement. You repay the lender in installments, often with interest, over a set period.
Common types include:
Secured car loans: The car is used as security for the loan.
Unsecured car loans: No collateral; usually has higher interest.
Novated lease: A salary sacrifice arrangement through your employer.
Chattel mortgage: For business use, with potential tax benefits.
To apply, you must:
Be at least 18 years old.
Be an Australian citizen, permanent resident, or hold an eligible visa.
Have a regular income and be able to demonstrate the ability to repay the loan.
Typically, you’ll need:
Valid ID (e.g. driver’s licence)
Proof of income (e.g. payslips or tax returns)
Employment details
Proof of address
Details of the car (if already chosen)
Lenders assess:
Your credit score
Income and expenses
Employment status
Loan amount and term
Whether the loan is secured or unsecured
A balloon payment is a lump sum due at the end of the loan term. It reduces monthly repayments but must be paid in full at the end, often requiring refinancing or sale of the vehicle.
Yes. Pre-approval helps you understand your budget before shopping for a car. It’s typically valid for 30 to 90 days and doesn’t lock you into a loan.
Loan terms generally range from 1 to 7 years, depending on the lender and your financial situation. Speak to your car finance brokers for the best options for you.
Fixed rate: Interest stays the same over the loan term.
Variable rate: Interest may fluctuate based on market changes.
Some lenders charge early exit or break fees. Always check the loan terms before signing.
Yes, most lenders finance used cars, but some may have restrictions on age or condition of the vehicle.
Missing a payment can result in late fees, affect your credit score, and potentially lead to repossession. Contact your lender ASAP if you’re experiencing financial hardship.
Yes, though options may be limited. You may face higher interest rates or need a guarantor.
Some lenders offer finance to non-residents, depending on visa type, remaining visa duration, and income stability.
When reviewing a car finance contract, make sure you understand the full picture before signing. Key things to look out for include:
Interest Rate vs. Comparison Rate: The comparison rate includes most fees and gives a better idea of the true cost.
Loan Term: Know how long you’ll be paying off the loan and how that affects your repayments.
Fees and Charges: Watch for application fees, monthly account fees, early exit fees, or late payment penalties.
Balloon Payments: Some loans include a lump sum at the end. Make sure you know if one applies and how much it will be.
Repayment Flexibility: Check whether you can make extra repayments or pay off the loan early without penalties.
Total Repayment Amount: Understand the total amount you’ll pay over the life of the loan, not just the monthly figure.
Not sure what it all means? We’ve got you.
At eCarz, we break down everything in plain English so you can feel confident and informed.
👉 Contact the eCarz team today — we’ll review your finance options, answer your questions, and help you make the smart choice.
Frequently Asked Questions About Car Brokers
A car broker is someone who can buy a car for you and get you a better deal than you could get yourself while he is at it. All you need to do is tell your car broker what car you want to buy and they will do all the legwork for you. From searching the market for precisely the make and model you want to negotiating the best possible price on your behalf? Learn more about what is a car broker on our blog.
A car broker can help you buy a car or sell your car, at eCarz we can also help you with car finance. The main service a car broker will offer is finding and negotiating the best possible car deal for you.
A car dealership stocks cars and their range is fundamentally limited to what they have in their yard. A car dealer needs to maintain his bottom line, and he will always try to convince that it is his stock that is worth buying. To put it simply, you can always expect to get the hard sell from a car dealer, and even if you consider yourself a good negotiator, you will find getting the best deal from a dealership to be quite a challenge.
A car broker does not keep any cars in stock but instead searches the car market for the vehicles requested by his clients. A car broker does not feel the pressure of having to move his stock and does not need to pressure you into buying a specific vehicle currently parked in his car lot. Instead, a car broker will source the car you want at the best possible price to close the deal with you.
Great question!
We don’t charge our customers a cent — that’s right, zero, zilch, nada.
In some cases, we may request an engagement fee to carry out the work, but that fee is actually paid by the dealer. It’s sometimes absorbed into the vehicle’s pricing, but more often is covered by the dealer’s marketing budget.
Dealers allocate a “cost per sale” to attract new customers, and in this case, that budget goes toward facilitating your deal — not increasing your cost.
You might be thinking that by using a car broker you’re just paying someone extra to do the car buying for you, but you could not be more wrong. At eCarz, we are committed to delivering savings that outweigh brokers’ fees. It’s the best value you can get – regardless of any costs you incur with us; you’ll save on the final transaction.
Absolutely, a car broker saves you the hassle of looking for the car you want, negotiating with the dealers and, it saves you money while he is at it. By using the services of a car broker, you come out ahead on both time and money.
Frequently Asked Questions About Sell Your Car
A car broker manages the entire selling process on your behalf. This includes appraising your vehicle, sourcing buyers, negotiating the best price, handling paperwork, and ensuring a smooth handover — all while saving you time and hassle.
Unlike private selling (which requires your time and effort) or trading in (which often gives you below-market value), eCarz works to get you the highest sale price by negotiating with dealers or vetted buyers, all while handling the process professionally.
In most cases, no upfront payment is required. Our fee is typically built into the final sale and covered by the buyer or dealer. Any fees will be transparently discussed with you beforehand.
Yes, eCarz can sell a wide range of vehicles — from everyday sedans to luxury cars, 4WDs, utes, and even classic or specialty models. Some brokers may have networks tailored to specific vehicle types.
Timeframes can vary depending on the car’s condition, market demand, and pricing. However, eCarz car selling service can often sell cars faster than private sellers due to their existing network of buyers and dealers.
Your involvement is minimal. You may need to provide vehicle details, service history, and registration documents. From there, we will handle the marketing, negotiations, and paperwork.
Typically, yes. Brokers leverage their experience and industry contacts to secure a better price than a trade-in or rushed private sale — without the stress and time commitment.
That depends on your car and our strategy. Some cars are best suited for dealer sales, while others may be offered to pre-qualified private buyers. Either way, eCarz aims for the best return for you.
No problem! We can assist with selling a car that still has finance. They’ll help coordinate the payout process and ensure the transaction is handled correctly with the lender.
Yes, as long as you choose a reputable, licensed car broker. WHICH WE ARE (Check out our reviews!!!) They’ll protect your information, vet buyers, and ensure legal compliance throughout the sale.
Absolutely. eCarz offers end-to-end services — we can sell your current car, source a new one, arrange test drives, and even help you secure finance — all in one seamless process.