In Australia, car finance options include:
- Chattel Mortgage: Popular for businesses; you own the car from the start and can claim GST credits.
- Hire Purchase: Similar to the UK; you make regular payments and own the car after the final payment.
- Personal Loan: Borrow money from a bank or lender to buy the car outright, giving you full ownership.
- Lease: You pay to use the car for a set period, with the option to buy at the end.
- Novated Lease: A three-way agreement between you, your employer, and a finance company, often salary-packaged.
Using an online calculator can help you determine monthly payments based on loan amount, interest rate, and term length. If you need help with specifics, let me know!
