Esanda Car Loans

As one of Australia’s largest car finance providers, Esanda Finance has over 50 years of experience with over 400 loan approvals daily. They first opened operations in 1955. They are currently a unit of ANZ Bank, however they have recently announced the sale of their Dealer Finance portfolio to Macquarie Group Limited, one of Australia’s largest financial and investment banking companies.

Types of Esanda Car Loans

Given the financial backing and the size behind them, they have a variety of car loan options for both private individuals and businesses. Some benefits of choosing Esanda include:

1. Esanda Finance has a large network of car dealers across Australia to make sure that their customers get their car at the best price.
2. They offer a call center six days a week for direct information from one of their specialists.
3. They have a speedy application process with answers usually within just three hours.
4. Fixed interest rates, so customers always know what their repayments will be.
5. Loan terms of 1-7 years
6. 100% finance available including all insurance and other on-the-road costs

For those looking to use their salary to purchase a car, the Novated Lease does exactly that. You choose the car you want and where you want to get it from and then lease it from Esanda directly. Your employer will make the payments to Esanda on your behalf from your pre-tax salary. This also means you pay less in taxes. With this loan type, you remain the owner of the vehicle even if you leave the company, and you can transfer the novated lease to your new employer. Lease terms can be from 1 to 5 years with monthly, quarterly, semiannually or annual payments. Rates are fixed for the duration of this type of loan. The car must be worth more than $10,000 for this loan arrangement.

For business car loans, Esanda offers three different ways to purchase a single vehicle or a fleet of car for a business.

Chattel Mortgage: This gives you the chance to buy the vehicle and to use it as security, which allows Esanda to provide you a better interest rate. Some benefits of this loan type include:

• Cash flow benefits, including 100% finance
• Tax benefits
• Flexible repayment options including loan terms (1-7 years), regular and irregular payment scheduled, negotiated balloon payments and fixed interest rates.

Offer to Hire: This is different than that of a chattel mortgage in that Esanda remains the owner of the vehicle until the last payment is made. Some benefits of this loan type include:

• 100% finance available
• Tax benefits such as claiming both interest and depreciation
• Flexible payment options (loan terms of 1-7 years).

Finance Lease: This is similar to an offer to hire arrangement except that the end of the lease, the vehicle is returned directly to Esanda. Esanda will sell it at market value and you must pay the gap between the sale price and residual value. You can also make an offer. Some benefits of a finance lease include:

• No initial capital outlay
• Fully tax-deductible rental payments
• Flexible payment options with loan terms of up to 5 years

Esanda Car Loan Bonus

Unlike other lenders, Esanda doesn’t restrict your options of where you can purchase vehicles from and will accept private sales and auction sales too.

Esanda offers a variety of repayment features including tailoring your repayment structures so you can pay a bit extra for 11 months leaving one month free of payment, perhaps when your registration and insurance is due.

Whatever the case, Esanda is a large Australian car lender dedicated to providing both personal and business auto loans to customers at a reasonable rate. For more information about them, visit their website directly at http://www.esanda.com/personal/ or call 13 23 73.