Vehicle Loan Pre-Approval
OurMoneyMarket offers flexible pre-approvals for secured vehicle loans. Shop around for a vehicle with confidence by securing your pre-approval. Scroll through the information below to see all of the benefits of a vehicle loan pre-approval!
What is a vehicle loan pre-approval?
A vehicle loan pre-approval helps you understand your borrowing power when purchasing a vehicle. If you’re pre-approved, you’ll receive a conditional offer from OurMoneyMarket outlining the loan amount and terms you’re likely to be approved for. The process is the same as applying for a loan, and your offer will be valid for up to one month, giving you time to shop for your vehicle before settling the funds.
Think of the pre-approved loan amount as your personal budget when buying a vehicle. You’ll know exactly how much you can borrow, which helps you focus on vehicles within your price range without guessing. Once you’ve found the vehicle you want and submitted the necessary purchase details, your final approval will be updated to match the agreed purchase price with the seller.
Vehicle loan pre-approval at OurMoneyMarket
OurMoneyMarket vehicle loan pre-approvals can give you greater flexibility and confidence when shopping for your next vehicle. Benefits include:
- Pre-approval for loans up to $100,000
- Ability to purchase vehicles through a dealership or private sale
- No restrictions on the vehicle’s age – you can shop for a new or used vehicle
- Funds available and on standby for up to 30 days
Other benefits of an OurMoneyMarket vehicle loan
Available Loan Terms – Choose a loan term from 1 to 7 years, giving you the flexibility to manage your repayments comfortably.
Fixed Interest Rate – Your interest rate remains the same throughout the loan term, regardless of market fluctuations. This ensures your repayments are predictable and transparent from day one.
No Hidden Fees – A one-off establishment fee may apply to cover the administrative costs of processing your application, but there are no monthly account-keeping or early repayment fees.
Flexible Repayment Frequency – Select a repayment schedule that suits your income: weekly, fortnightly, or monthly.
How do I get a vehicle loan pre-approval?
Once you submit your application online, you can receive an indicative quote within minutes.
To secure your pre-approval and have the funds placed on standby, one of our lending specialists will give you a call.
If we’re unable to reach you, simply get in touch when you’re ready to confirm your details and authorise the offer.
Once authorised, your pre-approval remains valid for one month, and after you’ve provided your vehicle purchase details, your funds can be settled within 24 hours of final approval.
4 Quick and Easy Steps to Securing Your Pre-approval
Step 1
Apply online
Complete your application online. Submit all of the required documentation.
Step 2
Get pre-approved
We will approve you for the maximum loan amount and quote you on your repayments.
Step 3
Shop around
Shop around for your vehicle up to the maximum amount pre-approved for you.
Step 4
Settle when you want
We can hold open your pre-approved funds for up to a month, with funds settled as soon as 24 hours.
Other Personal Loans We Offer
Eligibility Criteria
- You should be at least 18 years or older.
- You should be an Australian citizen or permanent resident.
- Be in active employment or receive a pension.
- Have no defaults (paid or unpaid) or active payday loans.
- Centrelink can be used as a secondary income with regular income.
- Not be a current or prior bankrupt or be party to a court judgement.
Awards
Does Pre-approval guarantee a loan?
Is Pre-approval bad for credit?
What happens after you get pre-approval for a vehicle?
How long does pre-approval take?
Once you’ve researched and applied for your pre-approval, it’s important to note that it doesn’t last forever. Pre-approval generally lasts for up to 1 month.