Access a variety of vehicles Australia-wide and get on the road faster through Alpha Car Finance.
This loan’s main feature is that you are able to choose the vehicle you want to finance through Alpha Car Finance. You can search a variety of vehicles on their website, decide which one meets your needs, calculate how much it will cost you and apply for it all through Alpha Car Finance’s website. This keeps you in control of what vehicle you want and you can be clear about the total costs up front.
Things to consider about Alpha Car Finance
With this loan, you do not have to use security, such as a new car, used car or any other vehicle you might own. As long as your income is a minimum of $35,000 or more, you qualify to lease a vehicle through Alpha Car Finance.
Vehicles are leased for terms that are 36, 48 or 60 months.
Alpha Car Finance offers fixed repayment schedules that can be paid on a flexible schedule.
Once the term is up, you are able to make an offer on the vehicle or upgrade for a newer model.
Features of the Alpha Car Finance
Some of the features with this loan include:
- Straightforward amounts. You are able to borrow a minimum of $5,000 and a maximum of $20,000 for your car.
- Flexible repayments. The repayments can be tailored to your income stream schedule, so weekly and fortnightly repayments are possible.
- You can apply on Centrelink benefits. As long as you are earning more than $35,000 a year, you are able to apply. However, you will require a main source of income aside from Centrelink benefits.
- Access to a range of vehicles. You are able to search the vehicle type you want through their website and can immediately know how much it will cost you to rent that vehicle.
- Large loan terms. You are able to rent out the vehicle for a term of 36, 48 or 60 months. Alpha Finance offers nothing shorter-term.
- Apply with bad credit. You are able to apply with bad credit since Alpha Car Finance looks at your current financial situation rather than your credit history.
- Fixed repayments. Your repayments stay the same month-to-month since they are fixed. The repayments can also include the cost of car registration and comprehensive car insurance so that you don’t have to worry about these costs throughout the year as you drive around.
- Varied options at the end of your term. Once your loan term is up, you have the choice between making the offer on the vehicle and transferring it into your name, upgrading to a newer model or selecting another vehicle of your choice. You can also return the vehicle.
- Early repayments. You have the option to make early repayments at no extra cost in order to pay off the vehicle quicker.
Fees and charges
Some of the fees and charges that are associated with this car loan include:
- An establishment fee that depends on how much you apply for. This fee starts from $290.
- A missed repayment fee. This will cost you $35 each time you miss a repayment.
- A toll fee. As well as paying the cost of the toll, if you fail to make the payment within three days, Alpha will charge you a fee of $10.
- A speeding fee. If you receive a fine, Alpha will charge you $99 as well as the cost of the fine.
- A late repayment fee. There is a charge of 18% interest on an overdue payments total amount owing at the end of each calendar month.
- A direct debit fee. If you miss a direct debit fee, you will be charged a fee by your bank as well as the $35 charge for missing a payment. There is also daily late fees charged on the amount owing.
It’s important to note that Alpha Car Finance does not cover your fuel and unexpected maintenance costs as well. These are charges that you have to take care of as a car owner.
How to apply for the Alpha Car Finance
Alpha Car Finance can help you get on the road quicker. Simply click on “Go to Site” and ensure you meet the following:
- Be 21 years or older.
- Be a permanent Australian resident or citizen.
- Have a current driver’s licence.
- Earn over $35,000 per year. Your minimum income must be at or above this amount in order to make repayments on the loan.
Some of the documents you will need to provide include:
- Driver’s licence. You can provide a photocopy or your driver’s licence number.
- Proof of income statements. You need to provide three recent payslips or Centrelink income benefit statements.
- Proof of residence. This can be done by providing a utility bill or similar document.
- Bank statements for three months.
Once you provide all the above information, your application is assessed and you will be notified within one to two business days.
Alpha Car Finance has access to a variety of vehicles in locations across Australia. However, it’s best to compare different loan options to decide whether or not they meet your personal needs before applying.