09/06/2026
You'll find the financing process a whole lot smoother if you can speak the language. Here are 3 basic terms you should know:
1. Deposit
This is the amount you contribute to your purchase upfront. For example, you might pay a $5,000 on a $25,000 car, leaving $20,000 to be financed.
2. Loan term
This is the length of time you have to repay the loan. Whilst most finance is structured over 5 years, a longer term can mean lower repayments and a shorter term can mean less total interest paid.
3. Interest rate
The percentage charged by the lender for borrowing money. People pay a lot of attention to interest rates - and for good reason. They are a significant factor in determining the size of your repayments.
Still unsure how your loan would work? Get in touch with our crew and they'll run you through it.