Apply and be approved for car finance in three hours or less with Esanda.
Finding a car financing solution can seem overwhelming – there's a range of options available and it's difficult to know which one is best for you. Fixed or variable, dealer finance or car loan, balloon repayment or fixed repayments across your term? If you're unsure of what kind of financing to go for, you can find help from Esanda. They are one of Australia's largest car financiers and also a division of ANZ. They offer a competitive car loan option that can see you behind the wheel of your new vehicle — even if you're not sure what car that is yet. Read more about the car loan you can access through Esanda below and see if it's the right option for you.
What you need to consider about an Esanda Car Loan
This is a secured loan, meaning your newly purchased car will be used as a guarantee in case you default on the loan. Loan terms of between one and seven years are available and a balloon repayment may also be available, helping you to reduce your ongoing repayments over your term. Keep in mind various fees and charges apply, including an establishment fee and monthly loan administration charge. These fees are detailed further on and should be taken into account before you apply.
Features you should know about before applying
- Loan approval time.
When you apply, you can find out if you've been approved in three hours or less. This can make the process of buying your car quick and easy.
- Flexible repayments options.
You're able to make fortnightly or monthly repayments and you can pay via direct deposit, BPAY or by visiting an ANZ branch.
- Fixed rate of interest.
This loan comes with a competitive fixed rate starting from 7.91% p.a. The rate you're approved for will depend on your individual application.
- Balloon repayment option.
If you're looking to make a lump sum payment at the end of your loan term, with the advantage of reducing your ongoing repayments, you might be able to take up this option.
- No deposit required.
You may be able to access 100% financing for your vehicle if you're approved by Esanda.
- Include other costs in your loan.
Approved customers may be able to include other costs in their loan amount, including insurance and on-road costs.
What fees come with an Esanda Car Loan
Before taking on any loan it's important to take into account all of it's features, including what costs are involved. The fees and charges of this loan are outlined below:
- Establishment fee: $350. This is the fee you're charged to cover the costs of setting up your loan.
- Loan administration charge: Array. This is charged each month to cover the administrative costs of your loan.
- Late payment fee: $20. If you fail to make a payment on time you will be charged this fee.
Ways Esanda can help you repay your loan
While the car loan is a fixed rate product, meaning there is little flexibility in the way your repayments are structured over your loan term, Esanda offers repayment flexibility in other ways. Take a look at the options available to you that can help you manage your loan:
Annual repayment breaks for rego and insurance
Esanda has an option whereby you can construct a repayment schedule to work around your registration and insurance renewal. In other words, you can have a repayment holiday scheduled for when your insurance and registration is due to be renewed if you agree to make higher repayments in other months. This can provide some much-needed relief when renewal time comes.
A break for repayments when you have a baby
If you and your partner are expecting, you can elect to increase your repayments for the first nine months in order to have reduced repayments for the next twelve. Following this period the repayments will return to normal for the remainder of the loan term. This is a very flexible option that can help you in that first year where you'll see your living costs increased with the new introduction to your family.
Repayments tailored for your car's maintenance
Another flexible repayment structure that's available aims to help you manage the maintenance costs of your vehicle. This repayment structure sees reduced repayments every six months, and then on the anniversary of your contract you won't have any repayments scheduled. This is where your servicing costs and registration will be due.
Five questions you might have about an Esanda Car Loan
What methods do I have to apply for an Esanda Car Loan?
If you're looking to apply for an Esanda Car Loan, simply click 'Go to Site' to fill out an online application form. You also have the option of applying over the phone or by visiting an accredited Esanda dealer who can help you fill out the paperwork.
Can I pay out my car loan early?
Yes. You're able to pay out your loan early by making additional repayments. Keep in mind that an early termination fee and/or break costs may apply.
How can I make payments on my loan?
You can make payments to your loan using a few different methods. You can choose to make direct debit payments by downloading a direct debit request form from Esanda's website. BPAY and Internet banking payments are also available.
How can I reduce repayments on my Esanda loan?
If you're looking to reduce your repayments during a certain period, you can put your Esanda car loan account in advance. By making extra repayments and ensuring your account stays in advance you can reduce your repayments, making your loan easier to manage.
Am I eligible for an Esanda Car Loan?
To be eligible for an Esanda Car Loan you need to be over the age of 18 and looking to borrow more than $7,500. You cannot currently be bankrupt and you need to be employed or be a self-funded retiree. You also need to be a permanent Australian resident or hold a relevant work visa. Find out more about how to apply for a loan below.
Before you apply for an Esanda Car Loan
Applying for an Esanda Car Loan is simple. You can get started online, or if you prefer, you can also give them a call or visit an Esanda dealership to apply in person. Before you start the application process, check you meet the criteria. You'll need to:
- Be over the age of 18
- Be an Australian permanent resident or hold a relevant work visa
- Be employed are be a self-funded retiree
- Not currently be bankrupt
- Be looking to borrow more than $7,500
You'll also need to have the following documents handy before you start your application:
- Current Australian driver's licence
- Your current employer's name and contact information
- If you've changed jobs in the last three years you'll need your previous employer's name
- Details of your income, expenses, assets and liabilities