1. Car Loans
  2. Car Loan Lenders In Australia
  3. Latitude Financial (Formerly GE Money Personal Loans)

Latitude Financial (Formerly GE) Personal Loans

Operating in both Australia and New Zealand, GE Money now known as Latitude Financial, has over 4,000 staff members and 2.5 million customers. They offer a variety of services including retail finance, credit cards and personal insurance. GE Money offers both motor and personal loans. Motor loans include caravans, watercrafts, motorcycles, boats or cars. Depending on the type of vehicle you’re purchasing, the loan features will vary.

GE Money Car Loan

This offer is available for both older and newer cars, any make or model and up to 15 years of age. You can purchase a car up to 20 years old, but you will have to take out a loan for a vehicle that old (restrictions apply). The car must be used for personal use for more than 50% of the time in order to apply for a motor loan.

Some features of this loan include:

  • Loans amounts as low as $5,000
  • Fixed interest rates
  • Flexible loan terms from 1-7 years
  • Weekly, bi-weekly or monthly payments
  • Australia Post, BPAY loan repayment or Direct Debit (handling fees of $1.50 if not made with Direct Debit)

Borrowers are allowed to make additional payments, however should they repay the loan off before the agreed amount, an early repayment fee may apply.

ge money car loans

GE Money Personal Car Loan

If you’re wanting to purchase an older vehicle that is 15 to 20 years old, you will need to apply for this type of loan. Interest rates are slightly higher with this loan and the loan is secured against the vehicle directly. Some features of this loan include:

  • Loan amounts as low as $3,000
  • Flexible loan terms from 2 to 7 years
  • Fixed interest rate
  • Weekly, bi-weekly or monthly payments

Much like the money loan, additional payments can be made, but an early repayment fee may apply if the loan is paid off early.

About GE Money Car Loan Application Requirements

To be eligible to apply for a GE Motor Loan, you must be:

• 18 years-of-age

• A permanent Australian resident

• Earning at least $24,000 per annum

Individuals should also have a good credit history for the past five years and not been bankrupt in the last seven. You will be asked to provide proof of ID, two recent pay slips or two recent financial statements for self-employed individuals. A decision on your loan is typically made in 24-48 hours. Applications submitted before midday typically receives a decision by the end of the business day.

For more information visit their website directly at https://www.latitudefinancial.com.au/ or by calling 1300 973 422 for personal loans or 13 10 24 for car or motor loans.