Residual Finance Car Loans Australia
Everyone tells you the value of a residual or balloon when you are applying for finance on your car, truck, excavator or any other finance you may have applied for, however they don’t tell you what happens at the end of your lease, CHP or Chattel Mortgage.
If you don’t have the cash or are unable to secure residual finance, then you will have to sell your vehicle to payout the residual / balloon.
And due to the unfortunate closing of Suncorp, GE, GMAC & Ford Credit (retail sector) in the motor vehicle finance market, you may now find yourself wondering what to do about financing your residual / balloon when it falls due…… other than having to sell your car.
You may have been offered an attractive payout, but due to the current financial climate, you can’t take advantage because you can’t find anyone to finance your residual.
We here at JCF want you to keep your car, truck or excavator. We have lenders in place that will finance your residual.
Don’t wait until your residual is overdue.
You will only need the following to get pre-approved to finance your residual
- Clear history with your current lender for a minimum of 18 months
- No unpaid defaults
- No financials
- No inspection
- Maximum $100,000