With Esanda, you can easily get a car loan or a novated lease if your salary package gives you a car as a benefit. Applications through Esanda are usually processed quite quickly, usually in three business hours.
With Esanda, you can easily get a car loan or a novated lease if your salary package gives you a car as a benefit. Applications through Esanda are usually processed quite quickly, usually in three business hours. The loan schemes that the company offers provides a lot of conveniences, allowing insurance and other costs to be included in the total loan amount. If approved, you can borrow anywhere up to the entirety of the purchase price of the car.
Esanda offers different borrowing scenarios for borrowers with different needs and circumstances. If you are considering getting a car loan with them, you will want to use our car loan calculator to see just how much you will have to repay in these different scenarios. Just input your desired loan amount, the term of the loan, and your credit score (if you know it), and we can give you an accurate estimate of your weekly, monthly, or bi-monthly payment installments.
Pros and Cons
Getting a loan with Esanda comes with nifty conveniences: loan approval is quicker than in other institutions, and they allow borrowing up to the whole purchase price. Contacting the company itself is also made convenient; their customer service has phone and email, and even online banking for those who are always on the go. Their interest rates are also below the prevailing market rates.
However, these conveniences come at additional costs. Esanda charges a monthly fee and an application fee. In addition, loans to be approved require a form of security. Applications are all online as well; unlike in traditional or conventional lending institutions, Esanda does not allow applications for car loans in their branches. Although applications cannot be made in their branches, approved customers can make repayments in these branches.
Am I Eligible for a Car Loan with Esanda?
Esanda has a small list of requirements for potential borrowers. Of course, you must be at least 18 years old; the minimum amount of your loan must also be $7500. Only permanent Australian residents or those holding a work visa are allowed to borrow, and you must also be either employed or a self-funded retiree. Finally, it would help if you were not bankrupt. All these requirements assure the company that you have the capacity to pay off your loans in full upon maturity.
The bundle of conveniences that come with Esanda can be quite persuasive, but you must also factor in the additional fees they throw in on top of the loan itself. Think of it as an institution for those who are okay with paying for more, as long as the lending process itself is fast and efficient. Whether or not getting a car loan with Esanda is the right choice, however, is something that will ultimately depend on your personal financial circumstances and situation.