NAB Car Loans

National Australia Bank (NAB) is one of Australia’s Big Four Banks. They have over 42,000 employees in 17,000 branches and/or business banking center across the world with nearly 12.7 million customers. They service individuals, small to medium businesses and enterprises with a retail or business need that suits them best.

About NAB Personal Car Loans

NAB offers both fixed and variable interest rate car loans for individuals wishing to purchase either a used or new vehicle. Loan applications can be approved with funds deposited in a NAB bank account on the same day if they are submitted with all relevant documentation by 2pm that business day. Some features of a NAB car loan include:

  • Loan terms of 1 to 7 years
  • Weekly, bi-weekly or monthly repayment options
  • Borrow $5,000 (minimum) to $55,000
  • Make additional repayments to pay off the loan with no fee
  • Redraw facility to take back any additional payments made (variable rate loans only) if you need the cash for living expenses

If you have yet to find your car, you can still get pre-approved for a loan. NAB offers unconditional loan approval for a period of up to three months giving you time to find and buy a car.

About NAB Business Car Loans

NAB offer a large variety of car loan products for businesses on the market including financing for cars, buses, trucks and entire vehicle fleets. These business car loans feature:

  • 100% finance so you can use the cash for your business directly
  • Repayment plans that suit the cash flow of your particular business
  • Financing up to $500,000

Car Loan Options

A business vehicle loan is where you own the vehicle from the beginning with NAB providing either partial or full funding.

A hire purchase is when NAB buys and owns the vehicle, you pay it off and then take ownership at the loan of the agreement.

Finance lease is when NAB owns the vehicle and leases it to you with the option for you to purchase it at the end of the lease period or to roll it over into another lease agreement.

A novated lease is when staff can purchase a car with their pre-tax salary, saving them money by paying less income tax. Their employer is responsible to make their payments for them.

A fully-maintained novated lease is the same as a novated lease, only all of the running costs for the vehicle is included in the lease agreement.

A fully-maintained operating lease is when you lease company vehicles and NAB takes care of all the operating costs and paperwork for you.

All of these options offer many tax benefits for businesses.

About NAB programs and Initiatives

NAB is involved in many programs and initiatives that are aimed at creating opportunity for all Australians. They have even developed a range of programs including Work Inspiration, $20 Boss and High Resolves, which teach innovative thinking skills, about entrepreneurship and prepare students for life after high school. They also support local sports such as Australian Rules Football and the NAB Auskick Program, which supports junior development across Australia.

Eligibility for a Loan With NAB

To be eligible for a loan with NAB, you must have a good credit rating, be 18 years of age and a permanent Australian resident with a regular income. To learn more about what they offer, visit their website directly at https://www.nab.com.au/personal/loans/personal-loans/car-loans or call 13 13 12.

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