Stratton Finance Used Car Loan

How does the Stratton Finance Used Car Loan work?

Stratton is a finance broker that offers both secured and unsecured used car finance. The rates are fixed, ranging from 6.69% p.a. to 6.31% p.a. With a fixed rate loan, your repayments remain the same for the duration of the loan. This makes it easier to budget for your repayments. They also offer flexible repayment solutions, including balloon or residual payments.

How does Stratton Finance Used Car Loan compare?

• A competitive interest rate. Its minimum interest rate of 6.69% is competitive against other used car loans on the market.
• No ongoing fees. You can save on costs throughout the life of your loan as there are no ongoing monthly account keeping fees.
• A competitive application fee. The application fee starting from $395 is competitive when compared to similar used car loans.
• Flexible repayment options. You can align your repayments with your pay cycle by choosing between weekly, fortnightly or monthly options.
• A high Finder Score. This loan's Finder Score of 8 places it among the leading products in our used car loan comparison.

• High upfront fee. You will need to pay an application fee that starts from $395 which is higher than what some other lenders charge.
• Not the lowest interest rate. The minimum interest rate starts at 6.69% p.a. which is competitive but not the lowest rate available.
• Not the highest-rated loan. While this loan has a high Finder Score of 8 there are other car loans with higher scores available.

What features does the Stratton Finance Used Car Loan offer?

• Low rate. The fixed rates start from 6.69% p.a. up to 18% p.a. The comparison rate ranges from 6.31% p.a. to 23% p.a.
• Fixed interest rates. With fixed interest rates, your monthly repayments will be consistent throughout the term of the loan.
• Finance for a range of makes. Stratton Finance works with a range of makes, giving you greater choice. Makes include Toyota, Holden, Ford, BMW, Mazda, Subaru, Audi and more.
• Secured and unsecured options. You can choose to secure your loan with the vehicle, or opt for an unsecured loan.
• High borrowing amounts. You can borrow from $10,000 up to $300,000.
• Quick approval. Your used car loan can be approved within 2 working days. Settlement will depend on the vendor.
• Flexible contract terms. Your loan term can range from 1 to 7 years.
• Balloon payments option. With a balloon payment, you can reduce your monthly repayments and pay the lender a lump sum at the end of the loan term.
• Ongoing support. Stratton Finance offers ongoing support throughout the term of your loan.

How much does the Stratton Finance Used Car Loan cost?

The costs associated with this loan include:

• Loan principal
• Fixed interest charges ranging from 6.69% p.a. to 18% p.a.
• Application fee of $395
• Monthly service fee of $0

The comparison rate, which includes interest and fees, ranges from 6.31% p.a. to 23% p.a.

What are the pros and cons of Stratton Finance Used Car Loan?

Am I eligible for this loan?

To be eligible for this loan, you need to:

• Be over 18 years old
• An Australian citizen or permanent resident
• Have a clear credit file
• Have stable employment

How do I apply for this loan?

You can submit an enquiry online, through the Stratton Finance website. You’ll need to provide information on the vehicle and financial, personal and employment details. Keeping the documents at hand can help speed up the process.