Buying & finance process
Choosing your car and your finance together
26 September 2026 · 5 min read
The usual order is to fall in love with a car and then work out how to pay for it. But the car you choose affects the finance you can get, and the finance affects which car makes sense. Looking at both together gives you a clearer picture of the real cost and more room to negotiate.
Work backwards from the repayment
Decide what you can comfortably afford each month, including running costs, and use a repayment calculator to see what purchase price that supports. Shopping within that range keeps you from stretching for a car that strains the budget.
The car affects the loan
Lenders look at the vehicle as well as you. Its age, kilometres, type and value can affect which lenders will fund it, and on what terms. An older car might be cheaper to buy but may have fewer finance options, while a newer car may be easier to finance but cost more upfront.
Where you buy matters too
Dealer and private sales are both workable with many lenders, but private sales need extra checks, such as confirming there's no money owing on the car. If you're considering a private sale, our guide to buying a car privately walks through the steps.
Compare dealer finance with the alternatives
Dealer finance can be convenient, and some promotional offers are genuinely competitive. Others come with conditions, such as a higher vehicle price, a balloon payment or a short promotional period. Compare the total cost of the car and the loan together, not just the headline rate or the weekly repayment.
Think about the whole ownership period
Consider how long you plan to keep the car and what it might be worth when you sell or trade it in. A balloon payment can reduce repayments, but you'll need a plan to pay it at the end. Matching the loan term to how long you'll keep the car helps avoid owing more than it's worth.
Get pre-approved before you shop
A pre-approval gives you a clear budget and lets you negotiate like a cash buyer. Approvals are subject to conditions and the vehicle you choose, and they're valid for a limited time, so line it up when you're ready to buy.
General information only
This article is general information only. It does not take your personal circumstances into account and is not personal credit, legal, tax or financial advice. All finance is subject to lender assessment and approval.
The Finsterl view
We can help you work out a realistic budget and line up finance before you shop, so you can focus on finding the right car. Call the Finsterl Finance team on 1300 508 827 or send us an enquiry. All finance is subject to lender assessment, eligibility criteria, terms and conditions.
All finance is subject to lender assessment, eligibility criteria, terms and conditions. Rates and fees depend on individual circumstances.
Run the numbers
Estimate your repayments
Estimates only, but a good place to start a real conversation.
A balloon lowers the monthly repayment but increases total interest paid.
Estimated monthly repayment
$933.91
$215.68 per week equivalent
Amount financed
$45,000
Balloon at end of term
$0
Total of repayments (incl. balloon)
$56,034
Excludes lender and broker fees, which vary by lender and product.
This calculator provides estimates only and does not constitute financial advice, a finance approval or a guarantee of business performance. Actual repayments, costs and business outcomes may differ.
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