loans.com.au expands into private sales!

Australia’s leading online lender loans.com.au has expanded its car loan offering to include private sales, in a move that turns it into a one-stop shop for most car loan borrowers.

Managing Director Marie Mortimer said the move would significantly improve choice for car buyers who didn’t want to go to a dealer.

“This is a major step forward for us and enhances competition in a market where many people are still relying in on high-rate personal loans,” Ms Mortimer said.

“Our car loans come with a very competitive rate and it is easy for car buyers to get pre-approved on the spot online or over the phone.”

Ms Mortimer said that unlike some lenders, loans.com.au’s car loans carried the same interest rate regardless of whether the buyer purchased from a dealer or privately.

“We charge the same rate regardless of where you buy your vehicle and we also suggest you follow the same policy of getting pre-approval before you arrive,” Ms Mortimer said.

“That means that you know from the outset where you stand financially and can negotiate a price with confidence."

loans.com.au will lend against vehicles up to 12 years old, with a one-off application fee of $500 and then no ongoing, annual or monthly fees. Balloons are available on all fixed-rate loans.