Financing a new or used car

Last updated 3 November 2026 · Reviewed by 360 Asset Finance Compliance

Can I get finance for a used car?

Yes. 360 Asset Finance helps you compare loans for new or used cars, utes and vans for personal use. Each lender sets its own criteria for the cars it will finance, and the car's details form part of the application. If a car doesn't suit a secured car loan, an unsecured personal loan may be an option, although it may be priced differently. Your broker can show you what's available for the car you have in mind.

What's different about financing a new car?

With a new car, the price, features and warranty are set by the dealer, and the paperwork is usually straightforward. Keep in mind that new cars generally lose the most value in their early years. That matters if you plan to sell or trade the car in before the loan ends, or if your loan has a balloon payment, because you could owe more than the car is worth. Dealers often offer their own finance too. You don't have to take it, and you can compare it with other lenders.

Can I finance a car from a private seller?

Yes. Lenders on our panel can finance cars bought from private sellers, subject to their criteria. Buying privately can mean a lower price, but there's no dealer handling the paperwork, so the lender will want to check the car before it pays. For example, it may need to confirm the car's identity and that there's no money owing on it. Your broker will explain what the lender needs and how the seller will be paid.

Why does a PPSR check matter?

The Personal Property Securities Register (PPSR) is a national government register. A search using the car's vehicle identification number (VIN) shows whether a lender has registered a security interest over the car, which usually means money is still owing on it. It can also show whether the car has been reported stolen or written off.

This matters most when you buy privately. If a car still has finance owing and the debt isn't paid out, the seller's lender may be able to take the car, even after you've bought it. Dealers usually clear any finance before they sell, but a PPSR search is a sensible check whoever you buy from.

What does the lender need to know about the car?

As well as the usual application details, the lender will usually ask for:

• the make, model, year and VIN
• the agreed price
• the seller's details, and an invoice or contract of sale
• whether you're trading in a car, and any finance owing on it.

The lender may ask for more, depending on the car, the seller and your situation. Registration and roadworthy or safety certificate rules vary between states and territories, so check what applies where you live.

What will the loan cost?

Interest rates and fees depend on the lender, the loan and the car. When you compare, look at:

• the interest rate and whether it's fixed or variable
• upfront and ongoing fees
• the loan term, because a longer term lowers each repayment but can mean paying more interest overall
• whether there's a balloon payment at the end
• any fees for paying the loan off early
• the total amount you'll repay.

Also allow for running costs, such as insurance, registration, fuel and servicing, which sit on top of your repayments.

How can a broker help?

360 Asset Finance is a broker, not a lender. A car loan for personal use is regulated credit, so the loan must suit your needs and you must be able to afford the repayments. We ask about your goals, income and expenses, compare options from our panel and explain the rate, fees and total cost before you decide. The lender will assess your application against its criteria.

FAQs

General information only. It doesn't take into account your objectives, financial situation or needs, and it isn't credit, tax or legal advice. Finance is provided by the lender you choose and is subject to its lending criteria; fees and charges apply. 360 Asset Finance is a trading name of Kuone Consulting Pty Ltd (ABN 75 647 329 002), Australian Credit Licence 566705.