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

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 into your new car.

Is Getting Finance for a Car Difficult?

The difficulty in obtaining car finance largely depends on your financial situation and credit history. Lenders assess your ability to repay the loan, considering factors like income, employment stability, and credit score.

In Australia, various lenders cater to different credit profiles. Horizon Finance Group, for example, offers diverse car finance options, accommodating a range of circumstances. It’s about finding the right fit for your specific situation.

Employment Stability and Car Loans: How Long Should You Be in a Job?

When it comes to employment, most lenders look for stability. Typically, you’ll need to have been in your current job for at least three to six months. However, this can vary.

For those in new employment or with less stable job histories, there are still options. Companies like Horizon Finance Group can guide you through the process and help find suitable loan products.

Minimum Credit Score for a Car Loan in Australia

Credit score plays a pivotal role in car finance. In Australia, a score of 600 or above is generally considered favorable. However, the minimum credit score required varies by lender and loan type.

If your score is lower, don’t lose hope. Lenders like Horizon Finance Group often have solutions for those with less-than-perfect credit.

Steps to Getting Your Car Finance Approved

1. Check Your Credit Score

Start by understanding your credit position. Get a free credit report from agencies like Equifax. This will give you insight into what lenders see when they review your application.

2. Gather Necessary Documents

Prepare documents such as proof of income, employment, and identity. Having these ready can speed up the approval process.

3. Explore Your Options

Look at different finance options and lenders. Websites like Horizon Finance Group offer a range of products to suit various needs.

4. Apply Wisely

Submit applications judiciously, as multiple applications can negatively impact your credit score. It’s better to choose the most suitable lender and focus on a single, well-considered application.

5. Understand the Terms

Before signing, ensure you fully understand the loan terms, including interest rates, fees, and repayment schedule.

6. Maintain a Good Financial Standing

Throughout the loan period, keep your finances in good shape. Timely repayments and managing other debts responsibly will benefit your future credit applications.


Securing car finance might seem daunting, but with the right approach and guidance, it’s entirely achievable. By understanding your credit score, stabilizing your employment, and choosing the right lender, you can pave a smooth path to securing car finance.

For more tailored advice and options, exploring the services of Horizon Finance Group can be a valuable step in your journey towards owning your dream car.