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How to Get Car Finance: Navigating the Road to Your New Vehicle

How to Get Car Finance: Navigating the Road to Your New Vehicle

by adminrob | Feb 1, 2024 | News

Navigating the process of car finance can be a journey filled with questions. Whether it’s understanding eligibility or the approval process, knowing the ins and outs is crucial. In this article, we’ll explore some key questions to help you smoothly cruise...

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Terms and Conditions

1. Availability of Loan Terms: The loan terms offered are subject to availability.

2. Loan Approval and Interest Rates: Loan approval is subject to review and approval. Horizon Finance offers unsecured interest rates ranging from 5.86% p.a. to 23.05% p.a. (with a comparison rate of 6.65% p.a. to 23.99% p.a.). Secured interest rates range from 5.76% p.a. to 19.09% p.a. (with a comparison rate of 6.55% p.a. to 19.99% p.a.). These rates are determined based on the individual borrower’s credit assessment using Horizon Finance’s credit scorecard. Meeting Horizon Finance’s credit criteria and responsible lending requirements is necessary for loan approval. Various fees, charges, and specific terms and conditions apply.

3. Comparison Rates: For a personal loan of $30,000 over a 5-year period, the unsecured comparison rate is 6.65%, and the secured comparison rate is 6.55%. Please note that comparison rates are provided for illustration purposes, and actual rates may differ based on different loan amounts, terms, and other factors. Additional costs, fees, government charges, such as stamp duty, and potential cost savings, are not factored into the comparison rate but can influence the overall cost of the loan.

4. Establishment Fees: An establishment fee of $575 is applicable for loans exceeding $10,000. The unsecured fixed rates range from 5.86% p.a. (with a comparison rate of 6.65% p.a.), and the secured fixed rates range from 5.76% p.a. (with a comparison rate of 6.55% p.a.) for loan terms of 36, 60, or 84 months. There are no early repayment penalties.

Example Loan: For instance, if you were to borrow a Horizon Finance Personal Loan of $20,000 for 36 months at a fixed unsecured interest rate of 5.86% p.a. (with a comparison rate of 6.65% p.a.), the total amount to repay would be $23,062. This total comprises the principal amount of $20,000, interest of $2,487, and an establishment fee of $575.

2026 © Horizon Finance Group Pty is authorized Credit Representative Number 529278 of Access Lending Group Pty Ltd (ABN 70 648 921 957), ACL.