When an individual purchases a car for their own personal use, a Secured Car Loan is the most popular and commonly used form of finance. The structure is straight forward and the format fairly standard across banks and lenders.
The lender extends the funds to purchase the vehicle and uses the car as security against the loan. If the borrower defaults on the loan, ie fails to pay the required repayments, the lender has the right to repossess the car.
We know people who operate in the finance broking area and we welcome your enquiry for further information or contact details to assist you.