Stratton Finance Used Car Loan
- Application Fee
- $395
- Interest Rate (p.a.)
- From 5.8% (fixed)
- Comparison Rate (p.a.)
- 6.23%
- Max Loan Amount
- $300,000
Summary
The Stratton Finance Used Car Loan offers a minimum interest rate in the top 10% of the market.With a high Finder Score of 8.9 the Stratton Finance Used Car Loan is a highly rated option. Its key strength is its competitive minimum interest rate which sits in the top 10% of car loans in our database.
However its maximum interest rate and application fee are both in the top half for more expensive loans. This loan may suit those with a strong credit profile who can secure the lower rate.
Pros
-
Secured and unsecured options
-
High maximum loan amount
-
Fast approval
Cons
-
There is a $395 application fee
Details
Product details
| Product Name | Stratton Finance Used Car Loan |
| Interest Rate (p.a.) | 5.8% to 16.53% |
| Comp. Rate (p.a.) | 6.23% to 17.85% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $10,000 |
| Max Loan Amount | $300,000 |
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 5.8% p.a. to 6.23% 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 minimum interest rate. This loan's minimum interest rate of 5.80% p.a. is in the top 10% of car loans in our database.
- No ongoing monthly fees. This loan has no monthly account-keeping fees adding to its value.
- Higher than average maximum loan amount. You can borrow up to $300,000 which is more than many other car loans.
- A high maximum interest rate. This loan's maximum interest rate of 16.53% p.a. is in the top half for higher-rate loans in our database.
- A more expensive application fee. At $395 its application fee is in the top half for higher fees when compared to other car loans.
What features does the Stratton Finance Used Car Loan offer?
- Low rate. The fixed rates start from 5.8% p.a. up to 16.53% p.a. The comparison rate ranges from 6.23% p.a. to 17.85% 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 5.8% p.a. to 16.53% p.a.
- Application fee of $395
- Monthly service fee of $0
The comparison rate, which includes interest and fees, ranges from 6.23% p.a. to 17.85% p.a.
What are the pros and cons of Stratton Finance Used Car Loan?
Pros
- Large maximum borrowing amounts.
- Competitive rates.
- Easy to budget with fixed rates.
Cons
- Upfront application fee of $395 applies.
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.
Sources
Your reviews
Alex Finder
Publisher
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