Hyundai Finance Options

Yes – Savvy is partnered with flexible lenders who can approve financing for used cars bought both from car dealerships and private sellers. Cars purchased privately may take slightly longer to process, given that they’re not regulated in the same way as dealerships, but your loan can still be settled in no time.

You can – in certain circumstances. If you’re a full-time employee starting in a new position having come from previous permanent full-time employment on similar or better income terms, you can be approved from day one of your new job.

However, part-time employees will need to be employed in the same position for at least three months, while casual workers will need to have been working consistent, regular hours for at least six months. Self-employed workers looking for a car for private use will need to supply the two most recent years’ worth of tax returns to qualify, meaning they’ll need to have been trading for at least that period.

Chattel mortgages are amongst the most popular options for businesses looking to purchase cars. These are structured similarly to a standard car loan in that you take ownership from the beginning and gradually pay it off until your lender’s interest (the mortgage) is removed.

Car leasing is more useful for businesses who have a higher turnover of cars or want to keep their models up to date, as you don’t own the car throughout your term. Hire purchase is different again, enabling you to use the car, and eventually own it at the end of the term, while not owning it across your agreement.

We can help you get approved for Hyundai models older than 20 at the time of purchase with an unsecured car loan. This is essentially a personal loan, the advantage of which is that there’s no need for an asset (e.g., your car) to be deemed suitable for your loan, thus speeding up the process and expanding your potential options. While rates are higher, they still start from an affordable level and enable you to borrow over the same length of time for up to $50,000.

Yes – as part of your car loan, you’ll be able to select whether you want to make your repayments monthly, fortnightly or weekly. This allows you to structure them around your existing income requirements to ensure that they’re manageable for you.

The higher your credit rating, the more likely you are to be approved for financing at more favourable terms. This is because your score is an indication to your lender of your history borrowing money and servicing debt, which can lower or increase their overall feeling of risk in entrusting loan funds to you.

The lowest rates and fees, as well as the highest borrowing amounts, are generally reserved for customers with good credit ratings. While getting approved for a car loan with bad credit is far from impossible, it comes with further restrictions such as capping borrowing at around $10,000.