Looking to get a new car? A car loan from Metro Finance can get you one quicker. Metro is an award-winning Australian non-bank lender with a range of tailored finance products to suit your specific needs.
Best of all, our locally-based team and extensive broker network means you get friendly, knowledgeable customer service from real people, with fast approvals to get you on the road sooner.
In this article, we’ll take a look at the types of new car loans and finance options available to you at Metro to help you decide the best option for you.
There are many reasons for choosing a Metro loan. Perhaps you need a larger vehicle for a growing family, or maybe you’ve decided to take the plunge and get behind the wheel of your dream car. Whatever your vehicle needs, Metro is here to help.
A Metro new car loan has many advantages, including:
Since 2011 we have been working with trusted brokers to deliver reliable and competitive vehicle and equipment loans to Aussies. At Metro, our goal is to make finance reliable by providing efficient and personalised loans.
Best of all, we’re Australian owned and independent, backed by shareholder equity and Australian institutional funding, giving brokers and their clients an alternative to traditional bank funding.
To find out more about Metro, click here.
Looking for an electric vehicle, or perhaps a hybrid? A MetroEco loan can get you the next-gen car of your choice and save you money at the same time.
Supporting Australia’s journey towards net-zero, MetroEco has been developed in partnership with the Australian Government’s Clean Energy Finance Corporation (CEFC) to provide accessible finance solutions for more environmentally-friendly technologies, such as electric vehicles (EVs) and chargers.
With reduced rates and flexible loan terms, MetroEco is your solution to unlock the many great benefits of zero and low-emission motoring.
A MetroEco loan offers:
Ready to go green? Visit our dedicated MetroEco page to find out more.
To find out if you’re eligible for a Metro new car loan, talk to your broker or a member of our friendly team. Loan eligibility usually looks at factors such as your credit score, income, employment history, and any existing debts you may have.
At Metro, we usually assess loan eligibility based on:
We also accept non-property backed applicants.
While new car loans are a popular way to finance a vehicle, Metro also offers a range of finance products to suit different vehicles and personal requirements, including:
Don’t just take our word for it. See what our satisfied customers and accredited brokers have to say about their experiences working with Metro.
Metro offers finance for a wide range of vehicle values between $5,000 and $250,000.
Yes, even if you’re not working full-time you can still apply for a new car loan with Metro. Your broker will be able to advise the types of employment status we consider, but typically we assess loan applications from the following employment types:
Before starting a loan application, it’s a good idea to speak with your broker or lender about any fees that may be incurred throughout the life of the loan. Some of the more common fees you may encounter include:
In addition, your loan may include a balloon payment at the end of the term. To learn more about balloon payments, click here.
When applying for a new car loan, you may be asked to provide documentation to verify your identity, among other things. A Metro broker will be able to assist you in preparing all the necessary documentation for your loan, but as a guide some of the things you may initially be required to provide include:
In addition, depending on your circumstances and the type of loan you’re applying for, we may also require:
Don’t worry, at Metro we aim to make securing the kind of finance you need as simple and painless as possible. Our brokers are experts at helping customers navigate the application process, so why not talk to one today?
In the meantime, as a first-time loan applicant, you’ll have to show evidence of saving history and your general financial position by providing three months’ worth of bank statements. In addition, we require first time borrowers to be over 25 years-old and have had no previous finance greater that $5,000 payable in fixed instalments.
Yes, absolutely! In the case of applicants who are married or in a de-facto relationship, a joint loan is possible. When applying for a joint new car loan, we will assess both applicants’ credit scores and will base the lending assessment on the greater of the two scores.
Ultimately, the difference between secured and unsecured car loans is whether the bank or lender has security over the car you’re financing. With an unsecured car loan, the lender has no security over the vehicle, and no straightforward way to recover its costs if you cannot make the repayments, which means that it will usually offer lower borrowing limits, higher interest rates, and shorter loan-repayment terms.
To find out more about secure and unsecured car loans, click here.
Ready to get behind the wheel of your dream car? Talk to a friendly member of our team or an accredited Metro broker to find out about vehicle finance options tailored to you.
Fill out your details below and we’ll be in touch, or if you’d like to chat further over the phone, give us a call on 1300 362 627.
