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Beginners guide to car finance

Posted 12th April, in Car News, Finance News, Finance Tips

NuStart Finance | Beginners Guide to Car Finance
NuStart Finance | Beginners Guide to Car Finance

You’ve called it. It’s time for a new car.

The wheels that have served you for the last few years just aren’t cutting it anymore. Maybe you’ve got something in mind already or maybe it’s just the idea that has you thinking. Either way, the big catch is that it’s going to take an age to save the cash you need, which means it’s time to get your first car loan.

Getting finance can be a confusing process full of uncertainty for first timers. There’s a number of moving parts to a loan, and you can alter some of these to work in your favour. But what are they and how do you know you’re getting the best deal for you? Everyone has heard of pre-approval, guarantors, secured loans, and all kinds of interest rates but what do they all mean for your bank balance at the end of the day?

Getting the right loan doesn’t need to be complicated, and with a bit of knowledge under your belt you’ll breeze through the process and pick up your new car in no time. Our beginners guide to car finance will walk you through the process and give you the knowledge you need to make the right decision.

1. How much can I borrow?

Use our Car Loan Calculator to obtain an illustrative indication of how much your repayment may be and how much you can comfortably afford to borrow. You can make repayments on your loan on a monthly or fortnightly basis. There are a few variables which will affect the amount of your regular payment but this will give you a rough idea. More information on those variables later.  All loans are subject to credit approval criteria.

2. Apply for Pre-Approval

First of all, what actually is Pre-Approval? Pre-approval refers to the lender declaring that you are eligible to borrow a certain amount of, money providing certain criteria are met. When you apply for pre-approval you supply information such as how much you’d like to borrow, your income, your living expenses and any other fixed commitments. Gaining pre-approval for a certain amount of money doesn’t necessarily mean you’ll be able to buy just any car for that amount (more on that later) but it does give you an upper limit to work with. You can apply for pre-approval online here.

3. Choose your car

The fun part! Once you know how much you can borrow, you can really get stuck into your car search. You can use our Car Locator to take the hassle out of finding just the right car for you. Also note, you do not need to sign a vehicle purchase contract before seeking finance approval.

4. Interest rates

The interest rate offered will vary depending on a number of factors. As a general rule, the lower the risk to the lender, the lower the interest rate will be. Some of the factors the lender will consider are the amount borrowed, the type of loan, the age of the vehicle, and the financial situation of the borrower. Due to the number of factors that can alter the interest rate you will be offered, it is very difficult to quote accurately via a website.

5. Secured or unsecured loan

A secured loan is one that is “secured” by an asset of yours. In the case of a car loan, this will usually be the car you are purchasing. Secured loans tend to carry a lower interest rate due to the reduced risk taken by the lender. If you were unable to continue paying off your loan, the lender would re-possess your car to cover their loss. The vast majority of car loans are secured loans.  An unsecured loan is one that is not tied to any asset of yours. An unsecured loan will tend to carry a higher interest rate, but it does grant you the freedom to sell your car without breaking your loan contract, more on that later.

6. Loan term

With NuStart Finance you will be able to choose any loan term between 2 and 7 years, subject to credit assessment. Your regular repayments will change as you alter the length of the loan. If you would like a smaller regular payment choose a long term, if you want to pay it off quickly or can afford a higher regular payment, choose a shorter term.

7. Guarantor or Co-borrower

If you are having difficulty gaining finance approval, a guarantor or co-borrower will potentially work in your favour. In this situation, the lender will take the income and financial position of your guarantor or co-borrower into account as well as your own. A guarantor is someone who will take responsibility for your loan should you not be able to continue paying it off. This is usually an immediate family member such as your partner or parents.  A co-borrower is someone who you jointly sign a loan with. In this arrangement, the co-borrower and you are equally responsible for repaying the loan. These arrangements minimise the lenders risk and therefor increases your chance of gaining finance approval. Before agreeing to be a guarantor the person must be aware of the responsibility they are taking for your loan.

8. Can I get a loan for a used car?

This is one of the most common questions we’re asked and the answer is yes, you can get a loan for a used car. The conditions of your loan will vary depending on the age and type of car you are purchasing, particularly for a secured loan. As a general rule, you will be able to get a better finance deal on a newer vehicle. An unsecured loan may be a better choice for older vehicles. Keep this in mind when you are selecting your car.

9. Can I pay my loan off early?

If your circumstances change and you are able to pay your loan off faster we won’t stop you. There may be an early termination fee which will be outlined in your credit contract.

10. Can I sell the car before I have paid out my loan?

Yes you can, however there are some conditions.  If you have a secured loan against the car this security needs to be lifted. This is done by paying out the amount left on the loan. If you can not do this in one lump sum, we may be able to arrange a new loan to pay the balance of the previous loan, subject to credit assessment. If you have an unsecured loan, you are free to sell your car whenever you like without impacting your loan.

Ready to get started on your way to that new car?

Our Beginners Guide to Car Finance gives you the information you need to make the right choice for you. Use our Car Loan Calculator to find out how much you can borrow, apply for pre-approval, and get your search under way with our Car Locator. If you have any questions or would like to speak to one of our experienced finance consultants, call us on 1300 883 983.

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Getting started with our car locator service

Posted 12th December, 2015 in Car News, Finance News


There aren’t many things a dealership can’t or won’t do for their customers and the same can be said of the specialist lender who offers a car locator service. The marketplace is so densely populated with the sheer variety of makes and models on offer that it can be difficult to know where to turn.


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What your car colour says about you

Posted 8th July, 2015 in Car News

WHat Your

10 car colours and what they might say about you:

  • White: You are fastidious, enjoy a simple life, have a strong attention to detail and are possibly a perfectionist
  • Green: You are trustworthy, traditional and balanced, but can also be lively and occasionally hysterical
  • Brown/Beige: You are practical, reliable, down-to-earth and pragmatic.
  • Yellow: You are upbeat, intelligent and young at heart
  • Grey: You are calm, sober and very career-driven
  • Blue: You are confident, quiet and dependable
  • Red: You are energetic, dynamic and have a lust for life
  • Pink: You are gentle, loving and caring
  • Black: You are conservative, empowered, elegant and professional
  • Purple: You are creative, unafraid of stepping outside of the norm and happy to be seen as unique

All Information Sourced – Tier10lab

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Top 7 Motorbikes in Australia

Posted 23rd June, 2015 in Car News

2015 (3)

Top 7 Motorbikes in Australia 2015

If you’re looking for a new or used Motorbike it’s always best to do your research first. Getting to know what the most popular motorbikes are can save you a lot of time and even money in the long-term when you go to sell.

For the first quarter of the 2015 FCAI Motorcycle sales report we can see the top 7 Australian motorbikes. With a total of 11,066 road motorcycles sold between January to March this year.

1. Honda

2,255 Honda Motorbikes were sold within the first 3 months of this year, making up just over 20% of the total road bike sales. This Japanese motorcycle manufacturer has been number one, not just in Australia, but also the world.

2. Harley Davidson

Harley Davidson came in at a close second with 2,165 sold. With over 100 years’ experience, they have become a reputable motorcycle brand.

3. Kawasaki

Another Japanese motorcycle brand, Kawasaki, came in at third with 1,597 sold. This comes as no surprise as they own over 138 dealerships.

4. Yamaha

1,475 Yamaha Motorcycles were bought. Yamaha not only have a wide range of motorcycles but they also manufacture recreational products like boats, golf carts and snowmobiles.

5. BMW

Prestige motorcycle brand, BMW, sold 840 during January to March this year.

6. Triumph

790 Triumph Motorcycles sold! Although they aren’t in the top 5 in Australia, they are Britain’s number 1 motorcycle manufacturer.

7. Suzuki

701 Suzuki on-road Motorbikes were bought. Like most of the motorcycle companies, they also have over 100 years’ experience in the automotive industry.

Other Motorbikes

The remaining 1,243 motorbikes came from

  • KTM (370)
  • Ducati (357)
  • Hyosung (121)
  • Victory (101)
  • Indian (90)
  • Moto Guzzi (62)
  • Aprilia (55)
  • Norton (25)
  • Others (24)
  • Kymco (20)
  • Royal Enfield (9)
  • Husqvarna (7)
  • Torino (2)

Need motorbike finance? Call a experienced NuStart consultant on 1300 883 983 or Find Out More.

Information sourced: FCAI Report

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2015 QLD Caravan, Camping & Touring Supershow

Posted 3rd June, 2015 in Car News



Starts Wednesday the 3rd of June until Tue 9th June, 2015.

10:00am to 6:00pm everyday


Brisbane Showgrounds, 600 Gregory Terrace, Bowen Hills, Brisbane, QLD

Brisbane Showgrounds
It’s the 47th year for the QLD Caravan, Camping & Touring Supershow. With over 300 exhibitors you’ll see all the latest Caravan products and services. You’ll be able to feast your eyes on the best:

  • Caravans
  • Motor-homes
  • Camper-vans
  • Camper Trailers
  • 4WD’s

Plus hundreds of accessories like tents and camping equipment.


You’re entitled to a free train ride when you buy your ticket. More details here.

Children: FREE

Adults: $18.00

Concession: $12.00

Accepted Concession cards: Centrelink Aged & Disability Pension Cards, Department of Veteran Affairs White & Gold Cards, Government Seniors Cards Only.


  • Campfire Cooking Stage,
  • Camping Kids Zone,
  • Trixie & Johnno’s Reno Van Challenge

You might also meet celebrities such as Outback Legend Mal Leyland, former AFL star Peter Everitt and V8 Supercar Driver Todd Kelly.

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How to claim the $20,000 Tax Break 2015

Posted 20th May, 2015 in Car News


(Image: smh.com.au)

How to Qualify

If you own a registered business with an ABN that has turned over less than $2million(AUD) then your business qualifies.

The Limit

Up to $20,000 PER item, with no limit on how many items you buy providing the items you purchase relate to your business.

Items You Can Claim

You could claim any item that is used for running your business like:

  • Vehicles (Cars, Vans, Motorbikes, Trucks, Utes)
  • Equipment (lawnmowers, machinery, welding equipment, generates, pumps)
  • Tools
  • Office items (fridges, coffee machines, printers, air-conditioners, ovens)
  • Computer equipment
  • Sound & security equipment

Items You Can’t Claim

You cannot claim an item if it isn’t apart of your businesses running costs.

  • Plants
  • Computer Software
  • Stock/inventory

End Date

Small businesses have 2 years to take advantage of the new $20,000 tax break, so it ends on the 30th June, 2017. For more information about the $20,000 tax break, we recommend you seek professional advice from a tax professional

If you need Equipment or Vehicles for your business, call our team on 1300 883 983 and we could help you obtain finance to take advantage of the new 2015 Federal Budget. 

Tax Benefits to Finance a Vehicle

If you own a business and need to purchase a vehicle, but can’t dip into your cash flow, then vehicle finance may be best for you. By financing your vehicle you can make simple repayments and still get the tax benefits for driving vehicle for business purposes.

Depreciation costs
Over time the vehicle you purchase will depreciate in value, like any other vehicle. So the benefit of having a business car means that you can claim some of the loss.

Miles driven
The mileage rate changes every year but you could claim 50c for every mile that your car is driven for businesses purposes.

Leasing costs
If your business is leasing your vehicle, then this payment can be a deduction from your businesses the taxable income.Sometimes this can also include operating costs.

Operating costs
That’s right! If your vehicle is used for business purposes, then you could claim the cost of petrol, servicing/repairs, insurance and even the interest that has accumulated on your vehicle loan.

We recommend for you to speak to your Accountant for specific details regarding tax benefits for your business and to see if you are eligible for the above. If you would like to know more about financing a vehicle for your business call us on 1300 883 983


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Our Nu TV Adverts

Posted 29th April, 2015 in Car News

We have launched our new TV Car Loan Adverts, just click on each image to view on YouTube. If you’re car isn’t reliable, you’re sick of being the passenger or simply want to upgrade your car to a newer model, NuStart Finance is the place to start. Our Online Car Loan Application takes just minutes and you could have a decision within 1 business day.

Click on each video or visit the NuStart’s YouTube Channel

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Motorbike finance: Get up close & personal with the world

Posted 26th November, 2014 in Car News

As if you needed more inspiration to hit the wide open road, we’ve put together our favourite motorbike snapshots from around the world, to give even the most seasoned traveler road trip envy!

There’s nothing quite like taking to a road less traveled on two-wheels, wind on your back, with the freedom to explore the peaks, valleys, alleys and animals that you would never have the chance to experience behind the wheel of a car.

Our top 10 motorbike adventures

All images: Instagram

Motorbike finance Australia

If you would like to experience and see more of Australia, let alone the world, we can help you find the most suitable and best value motorbike loan option for your personal circumstances.

For more information, contact an expert NuStart motorbike finance consultant, or call us on 1300 883 983 today!

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How long does it take to get your car loan approved?

Posted 12th November, 2014 in Car News

Settlement time varies depending on the individual application. In general, a contract will take approximately two hours from the time loan documents have been signed. Your NuStart Broker will contact you as soon as your contract has settled and the money has been transferred into the suppliers account. You would then be free to set up a time to pick up you new car.

Choosing the right loan option can go a long way to improving your chances of car loan approval and help you get your car loan approved sooner.

Our expert finance consultants are experienced in helping people with less than perfect credit and will work harder to find finance that works for you.

To get the ball rolling, complete our Quick Online Pre-approval Form, or call 1300 883 983 today!

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Are you making these car buying mistakes?

Posted 6th October, 2014 in Car News

To prevent leaving unhappy after paying too much at the car dealership — take note of these common mistakes to avoid when researching and buying your next car.

Car buying and car loan tips

Buying add-ons that you don’t need
Make sure you research and get to know the features that you want for your car. Knowing what you want will ensure you don’t buy add-ons that you could live without.

Not comparing car makes and models
Try to be open-minded about different models and brands of cars that could suit your business or lifestyle. The more options you consider, the more likely you are to find a car that meets all your requirements, for a better deal.

Settling for what’s in stock at the dealership
It’s easy to get caught up in the excitement, and people tend to become a little impatient when buying a new car.

Did you know that only a small percentage of people wait to have their car ordered through a dealer? That accounts for the majority of people who just settle for what they see at the dealership, even if they are settling for something they don’t really want.

Buying a car is a big deal, so why not wait a few weeks for what you really want in your car, even if it is just a different colour? Patience is a virtue!

Not test driving the car

This is one of the most important steps when picking a new car.

You could discover that the seats are uncomfortable, the car doesn’t drive smoothly or that you can barely move the gears. It only takes a short drive to discover these problems and it is also an opportunity to see how the car drives compared to other models that you might be considering.

Passing on a used car inspection
Don’t take the seller’s word that there are no mechanical defects.

After all, the car is being sold for a reason, so there could be problems with the car that cannot be seen with the naked eye.

Why not get a mechanic to take closer look through the vehicle to make sure it runs well and warrants the sale price. That way, you won’t encounter any problems on your drive home!

Focusing on short-term costs
It is important to focus on the overall cost rather than the month to month price, as it can be easy to lose track of your expenses.

Knowing the total cost of your car can also help you choose the right finance.

Not considering your financing options

If you don’t plan on buying the car with cash — consider your car finance options, or crunch the numbers in an Online Car Loan Calculator.

A chat with a NuStart expert finance consultant is a great place to start.

Contact us to get Fast Online Pre-approval, or call a NuStart Finance consultant on 1300 883 983 to discover your finance options today!

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Bad Credit Loans

We understand that things can happen in the past, so our aim is to find finance solutions by looking at your current situation & not just your credit rating.

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Your Repayments

See how much you could be repaying with our online loan calculator. You can choose the amount, loan length and interest rate.

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Our Reviews

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