Frequently Asked Questions

Check out the list of our most frequently asked questions (FAQ) and our response.  You may find what you’re looking for.

Is there a minimum and maximum amount I can apply for?

The minimum is $5000. There is no maximum finance amount that can be considered but this is of course subject to the lenders’ credit approval terms and conditions.

Are there any restrictions on where I can purchase my vehicle from?

We can consider vehicles that are sold privately or through licensed dealerships. Auction houses are also acceptable.

Does ITP Car Loans finance pre-owned vehicles?

Yes, we can consider finance for new and pre-owned vehicles of any age.

I have bad credit, can I still apply for finance through ITP Car Loans?

Of course! There are lenders who will consider applications for individuals or companies with adverse credit history. We provide vehicle finance for people in changing circumstances and from different financial backgrounds. So even if you’ve been refused credit in the past, it may still be worth speaking with one of our Vehicle Finance Consultants about what options are available to you.

I am self employed. Is it possible to secure vehicle finance through ITP Car Loans?

Yes, we can certainly look to assist self employed customers with vehicle finance. It is best to start by speaking with one of our Vehicle Finance Consultants about your situation. Call 1800 487 487.

What is the difference between a consumer loan and a commercial loan?

Our consumer loans are suited to customers looking to finance a car wholly or predominantly for private use (>51%). A Commercial loan is suited to individuals or companies who intend on using the vehicle primarily for business use (>51%).

Can I make additional loan repayments?

This will always depend on the terms of the particular loan. Generally, if you take out a personal car loan, you will have the ability to make additional repayments as often as you wish. There is usually no cap on extra repayments for a car loan that is for personal use.

What is a balloon payment?

A Balloon payment is a lump sum owed to the financier at the end of a loan term after all regular monthly repayments have been made. This reduces your monthly repayments in exchange for owing the financier a lump sum at the end of the loan term. The disadvantage of a balloon repayment is that the cost of the loan will be higher.

Note: Balloons are not available for terms greater than 5 years. Balloons are subject to credit approval and may not be available for some applicants over any term. Maximum balloons are based on the cash price of the vehicle.

What is the relationship between ITP Car Loans & Australian Finance Group Ltd?

Australian Finance Group Ltd (AFG) was established in 1994 and today AFG is one of the largest providers of mortgage broking services in the country. AFG is listed on ASX and holds an Australian Credit Licence 389087

ITP Car Loans is a credit representative of AFG. AFG will work with ITP Car Loans with the aim of finding a suitable car loan for you.

Any other questions? Talk to a Vehicle Finance Consultant for more answers.