Zoom Finance Blog

If you are looking for car finance, then you may find yourself overwhelmed by the options and information that’s out there.

Before you dive headfirst into the process, there are a few terms and concepts you should know.

The Basics of Car Finance

• What Is An Interest Rate?
  
  

An interest rate is a fee charged by the lender. It is generally based on the amount you pay back annually. For example, if you borrow $10,000 and are required to pay $900 interest yearly, then you have a 9% interest rate. The rate will vary based on the market, your credit score, and how much risk the lender is taking.

• What is Repayment?
  
  

Repayment refers to the amount you are required to pay for your vehicle. The terms will outline a specific monthly amount that you must pay to stay current. Fees may be added if you are late making a payment or miss payments.

• How Long Do I Have to Repay My Loan?
  
  

The length of time you have to repay your loan will vary based on the agreement made with the lender. The average is around five years, although some data indicate that the average may be increasing to over six years. A personal finance broker can provide more information if you have questions about car finance duration.

• What’s the Difference between Secured & Unsecured Car Finance?
  
  

A secured loan is one that is backed by collateral or assets. There’s less risk, which means you can usually get better interest rates. An unsecured loan is not backed. The lender is taking a bigger risk, which means you will be expected to pay a higher interest rate.

• What’s the Difference between Personal & Business Use?
  
  

If you want car finance for personal use, that means the vehicle will be used for your everyday needs. Business use means that the vehicle will only be used for business purposes, like travelling to meet with clients or make deliveries. Some loan types are only available for business-use vehicles.

• What Will a Lender Look at When Applying for Car Finance?
  
  

A lender will look at a number of things when considering you for car finance. They will need your basic contact information and financial details. They will look at your credit history and want to see proof of income. Other items they may ask for include:

• Bank statements
• Credit card statements
• Driver’s licence
• Copies of bills

If you have questions about applying for car finance, talk to the team at Zoom Car Loans. Our staff is available to help you work through the process, so you know you’re getting the best interest rates. Stop by our website and complete an online assessment or give us a call on 1300 138 273 to chat with one of our car finance experts.

Zoom Finance Blog

Everyone wants to find the best car loans available, but not everyone has the network or industry experience to do it. You don’t have to be a broker to find the right lending product. All you need is an expert on your side who can do all the heavy lifting and connect you with the ideal financier. That is where we come in. Zoom is ready to guide you to the best car loans on the market.

We Are Pros When it Comes to Low Interest Rates

We are pros when it comes to finding you the best car loans available with low interest rates. We want to help you keep as much money in your bank account as possible. Interest can add a lot on to the amount you end up paying back for your vehicle. Our experts could save you thousands of dollars by showing you lenders that meet your requirements and offer affordable interest rates. We work with many lenders such as Money3, Morris Finance, Green Light Auto Finance  and Pepper Money.

We Don’t Play Favourites with Lenders

We don’t believe in playing favourites with lenders. Every customer’s situation is unique, which means that there is no one-size-fits-all financier. We work with a network of lenders which allows us to find a product that offers the right terms for you. We can locate the best car loans based on your credit history, loan amount, and other factors.

Our Experts Stick with You the Whole Way

Customer service is very important to us. When it comes to financing, the assembly line approach just won’t cut it. When you work with us, you will be assigned to an expert who will remain with you through the entire process. That way you know someone who is familiar with your situation and needs will always be there to answer questions and provide advice. We will be able to find you the best car loans available.

We Are Ready to Help You!

We are ready to help you find the best car loans in Australia! Our staff is available to handle all the difficult tasks. You provide the information, and we’ll do the rest!

It’s never been so easy to get started on your next vehicle purchase. Visit our website to complete a free online assessment form that’s available 24 hours a day. If you have specific questions or would like to learn more about our services, you can dial 1300 138 273 to speak to one of our experts. Save money by letting Zoom Car Loans find the best car loans for you!

Zoom Finance Blog

So you went for a test drive on the weekend and you think you’ve found your next vehicle? Find out how to get a car loan approved fast.

Maybe you’ve outgrown your current car and need something larger for a growing family, but not sure what vehicles will be available to you.

Perhaps you’re looking for your first car, but don’t have any funds saved yet.

Maybe you run a small business who needs a new work vehicle to take your business to the next level?

If any of those scenarios sound familiar to you, the team at Zoom Car Loans can help you. 

Unlike the big banks and other lenders, we don’t let your credit rating define you and don’t believe it is always indicative of your current situation. That is why we offer bad credit finance for people who don’t have a squeaky clean credit file, but still deserve a car loan. We know having a car is often an important factor in gaining employment and maintaining livelihood and lifestyle.

We also know what it takes to make the lenders say YES to approving you for a small business loan. Just some of our small business clients include cafe owners, landscapers, hair dressers, mechanics, concrete suppliers and many more!⁣⁣ No matter what your trade, you will require machinery, equipment and supplies to ensure your business runs smoothly. We know these don’t come cheap, which is why we offer finance solutions for ABN holders and small business owners to help them make these purchases. ⁣

We understand that life doesn’t always go to plan. Sometimes life throws us a curveball and puts us in a position where we need a car ASAP. Usually this will mean that there are no spare funds lying around for a car deposit. If you’re in a similar position, or just really want a car but don’t have a deposit, Zoom Car Loans can help you.

So you’ve decided to apply for a car loan, but don’t want to let the car you just test drove get snapped up by someone else? Or you have a big job coming up that your current work vehicles simply can’t handle. Or maybe you have a new baby on the way and need to get the car situation sorted before the new bundle of joy arrives. Keep reading to learn how to get a car loan approved fast with Zoom Car Loans.

Our 3 step application process means you can get approved for a car loan fast! Backed by technology unique to Zoom Car Loans, we can usually process your application within 24 – 48 hours.

Whilst we do everything we can to get you into your new vehicle as soon as possible, there a few things you can do to heighten your chances of gaining a quick approval offer. A key part of your application involves credit providers verifying your current financial situation. This is a requirement of the law, so to avoid any delays, we encourage you to do the following after your initial phone call with the consultant:

Returning your supporting documents quickly:

Your consultant will ask you to supply certain documents to help verifying your identify, your employment, any benefits you may be receiving , your banking conduct and also any financial commitments you may have. The faster you return the required documents to your consultant, the faster they will begin processing your application and hopefully securing that new vehicle your are wanting!

Be contactable: 

We understand everyone lives busy lives, however being contactable during the loan application is very important to having the process go as quickly as possible. If you have a missed call from your consultant, aim to return their call as quickly as possible. The faster your consultant is able to get the information they require from you, the faster they will begin processing your application.

We have quite a quick turn around, the assessment period usually takes between 24-48 business hours. The quicker you are able to send through the documents we request, the faster we are able to process your application. Your Zoom Car Loans broker will not only get you approved, they will find you the best interest rate available and will tailor your loan term to suit your needs.

To get a car loan approved fast, Apply online now or call Zoom Car Loans on 1300 138 273.

Zoom Finance Blog

Many people think being on a pension means car loans are out of reach. Well think again!

Zoom Car Loans can provide car loans and finance for people who are receiving Centrelink benefits and pensions.
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As experienced brokers, the team at Zoom Car Loans know what’s involved in getting the lenders to say yes to a car loan on a pension. Once approved, we can provide you with flexible, fixed rate repayment options. You’ll be behind the wheel and driving away before you know it.

Zoom are able to assist 1000’s of clients on benefits every year to get the car loan they deserve. At Zoom Car Loans we pride ourselves on being different to other finance brokers. This is due to our high level of customer support and care. No two applicants are the same, so we don’t treat them that way. We take the time to get to know our clients and are there for them at every stage during the loan process. We advocate on our clients’ behalf and don’t stop working until we get them the best approval for their purchase goals.

As all credit providers work on a basic principle of affordability, to be approved for a loan, applicants must meet a minimum income amount of $800 per fortnight.

This minimum amount can be solely from your Centrelink payments or can include employment income as well. This minimum amount has been put in place to protect the borrower. It is the minimum amount that the lenders deem the borrower can comfortably make their loan repayments, while still being able to afford basic living expenses such as groceries, bills, rent, etc.

Here at Zoom, we are able to assist the large majority of Centrelink customers, however, please note that if you are solely receiving a New Start Allowance, Youth Allowance, or Austudy, unfortunately these aren’t accepted income forms to qualify for a loan. Our finance specialists work on your behalf to do everything possible to secure a loan for you, so be sure to contact us to speak further about your current circumstances. During the application process, your broker will ask you how much you are wanting to borrow.


Your finance specialists will then work with our panel of lenders to secure an offer. To avoid disappointment of not getting a car you have your eyes on, we always encourage you to obtain a pre-approval for an amount you can afford and then look for a suitable vehicle within your approval limits. Zoom Car Loans finance packages allow for both dealer and private sale vehicles.

How can I apply for car finance with Zoom if I am receiving a pension?

Applying for car finance as a pensioner is easy with help from Zoom Car Loans. No matter where you are in Australia, one simple online application is all it takes to get started.

Several of the lenders Zoom Car Loans works with will be willing to offer applicants on a pension a loan that meets their financial circumstances.


Your Zoom Car Loans broker will not only get you approved, they will find you the best interest rate available and will tailor your loan term to suit your needs.

Apply online now or call 1300 138 273.