Frequently Asked Questions
What is a secured car loan?
Like a regular secured loan, opting for a secured car loan means you’re using the car as security throughout the life of your loan. If you default on your loan repayments, the lender can seize your car and sell it to recoup the amount owing.
What’s a balloon payment?
We’ll give you a hint – we’re not referring to a birthday party! When talking about a balloon repayment in the car finance world, we’re referring to the lump sum of money you pay to your lender – generally at the end of your loan term. This payment helps buyers reduce their monthly instalments throughout the course of the loan.
Can I get a car loan with a bad credit score?
The short answer is yes. However, like with most other loans, obtaining a car loan with a poor credit score will more than likely be difficult and come with a higher interest rate. There are also specific lenders available who specialise in loans for borrowers with a bad credit rating.
Why Choose Inovayt
Simple
Finding the right financing to match your needs and goals is never an easy task. Our team prides themselves on finding the right solution for each client, regardless of their personal situation.
Flexible
Our brokers work hand in hand with our clients, to ensure they receive the best possible outcome. We are available to chat face to face, online, or via phone, at a time that suits you.
Solutions-driven
Our focus is always about achieve the best possible outcomes for our clients. We will tackle any hurdles that may come up, to ensure that you are satisfied and have achieved your desired outcome.
