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Leading Provider of Car Finance in South Australia
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Frequently Asked Questions
How do I apply for a Car Loan?
Finding a car loan can sometimes be overwhelming! With Adelaide Vehicle Centre, finding a car loan is quick, fast and easy! We have multiple different finance providers who we work with to ensure that we are providing you with the best possible finance rate and finance option to suit your needs. To apply, simply fill out the form below and that will start your finance journey.
How do interest rates work with Car Finance?
Car finance interest rates are very similar to finance you will get with a home loan. Additionally, there are two different types of car loan interest rates: fixed and variable. Here's how they work:
- Fixed Interest: A fixed rate loan has the same interest rate for the entirety of the borrowing period, allowing you to get a clear view of what your repayments could look like.
- Variable Interest: This means that the interest rate for your car loan could either increase or decrease at your lender's discretion, and therefore increase or decrease your interest repayments accordingly.
What is a Balloon Payment?
A "balloon payment" is a once-off lump sum that is paid at the end of a car loan, covering off the outstanding balance.
This allows you to repay only part of the principal of your loan over its term, reducing your monthly repayments in exchange for owing the lender a lump sum at the end of the loan term.
Can I buy a Used Car with Car Finance?
Yes absolutely! You can choose from our huge range of used cars!
We have a huge range including Ford, Holden, Honda, Hyundai, Isuzu, Kia, Mazda, Mitsubishi, Nissan, and Toyota.
What is finance Pre-Approval?
Pre-approval is a Preliminary Assessment, which means that your application for finance has been Conditional approved, and you need to submit the application for final approval. Conditional Pre-approval is not an offer of credit. The final approval process may take longer or involve additional steps, which may include the provision of additional information required.
Final approval remains subject to compliance with Taurus' credit criteria and confirmation of your capacity to service the loan. Pricing and Conditional Pre-approval is valid for a period of 30 days.
Will applying affect my credit score?
Taurus Motor Finance offers a preliminary assessment using your Equifax credit score without recording an enquiry on your credit file. However, if you proceed with a full application, a credit enquiry will be recorded, which may impact your credit score.
How do I apply for finance?
Applying is easy. You can start the application online through our website or visit our dealership in person. Our Business Manager will guide you through the process and submit application on your behalf.
What documents do I need to apply?
- Provide your details. We just need the basics, name, email, mobile, DOB, driver's licence and address, it's that simple.
- Select your repayment options and provide income & expenses.
- Validate with bank statements upload.
Taurus Motor Finance use bankstatements.com.au, an independent and secure online portal, which allows you to instantly upload your bank statements to validate your income and expense information provided. It takes less than a minute.
How does the bank statement upload work?
- Select your financial institution and enter your online banking credentials.
- Your bank statements are automatically retrieved and uploaded in seconds.
- You will be redirected back to Adelaide Vehicle Centre to complete the process.
What does bankstatements.com.au do?
They speed up and streamline loan applications. This means less paperwork, less fuss and a quicker decision about loan approval. They do this with their own technology that retrieves your bank statement data and securely send it directly to Taurus Motor Finance.
Why are bank statements important?
Some of the things your bank statements will show are your income, that you are regularly paid wages, other loan repayments and your expenses. These factors help determine that you can afford to pay back the loan.
Who authorises you to get my bank statements?
You do. You authorise Illion Open Data Solutions Pty Ltd to provide your data to the lender.
They are an independent provider of web-based bank statement data retrieval services.
Illion Open Data Solutions Pty Ltd t/a bankstatements.com.au is not a bank and does not necessarily have an official association or relationship with any bank or banking institution accessible via the bankstatements.com.au website.
What's done with my bank statements?
They are only made available to Taurus Motor Finance and are stored in a secure database.