Find your best Hyundai finance rate with Driva

Your maximum loan amount is dependent on a number of factors, including the lender you’re going with, the length of the loan term you’re after, your credit score and your income. We work with a panel of more than 30 lenders who are able to facilitate loans with amounts from $5,000 all the way up to $250,000 for consumer car loans and up to $750 for business vehicle and equipment loans. 

One way that you can increase your maximum borrowing amount is to adjust the length of your loan term. For example, by changing your loan term from 3 years to 5 years, you’ll be able to access a larger loan amount because you’ll be making smaller monthly repayments. It’s important to remember that the longer your loan term is, the more you’ll actually end up paying over the duration of the loan in fees and interest.

If you’d like to get an idea of how much you might be able to borrow (and what your monthly repayment amount could look like), you can use our car loan finance calculator, or get started with the loan process by getting your personalised quotes in just a couple of minutes.

Every lender will consider your credit score when assessing your eligibility for finance. For some lenders, your credit score will also impact what interest rate you receive - the higher your credit score, the lower interest rate. 

It’s a good idea to check your credit score before you start shopping around for car loans, so you can get an indication of how much a loan might cost you (by using our car loan calculator) and check for any errors on your credit report. You can check your credit score for free with Equifax, and find out why your credit score is the way it is by looking at your detailed credit history. 

Keep in mind though that credit scores aren’t the most important factor for all lenders. Some providers will look more closely at other factors like vehicle age and personal circumstances - often, as long as you’ve above a minimum threshold, you won’t have to pay a higher interest rate for having a bad credit score. 

A balloon payment car loan is a type of financial product that involves making a final lump-sum payment at the end of your loan, and this is generally expressed as a percentage of the total loan value. 

The higher your balloon payment, the lower your monthly repayments will be - but the more interest you’ll pay. This is because you’re delaying payment of the ‘balloon’ amount until the end of your loan term, which means interest will accrue until this day. We generally suggest avoiding balloon payments unless you believe your car value at the end of your loan will be worth more than your balloon payment plus interest. 

Learn more: What Is A Balloon Payment Car Loan? Everything You Need To Know

Yep! We can finance almost anything on wheels, whether that’s a vehicle or piece of business equipment. If you’re after a vehicle to use for business purposes, we have a range of commercial loan options available, including: 

• Chattel mortgage. This type of loan works in a similar way to a fixed interest rate traditional mortgage. Your lender will use your new vehicle as security against the loan, and you’ll gain ownership over the vehicle right away. You’ll then pay back the loan with the income that the asset generates in your business.
• Commercial hire purchase. Hire purchase agreements are a great option for those who are wanting to eventually purchase a business vehicle but who don’t have the cash on hand to do so immediately. You’ll normally make an initial deposit payment, then pay the car off in instalments, and at the end of the repayment period you’ll have full ownership of the vehicle. 
• Finance lease. A finance lease transfers the risk of ownership to the lessee, but the actual legal ownership. You’ll normally have the option to purchase the vehicle at the end of the term.
• Novated lease. The employer pays for the car loan and vehicle running costs directly out of their employee’s taxable salary.

One of the main benefits of a commercial loan is that you’re able to claim tax deductions and enjoy other tax benefits. If you’re self-employed or a sole trader you’ll be able to access both commercial and consumer finance options, so you can compare both to see which works best for you!

Absolutely! Whether you’re buying a second hand car from a private seller, or buying a brand new car from your Hyundai dealer, we can help you find the best Hyundai car finance option.

The annual percentage rate (APR) is the lender quoted rate that you’ll be charged on your loan amount, excluding all fees and charges. Be wary of relying too heavily on APRs - because they don’t include fees, they can be a bit misleading.

Comparison rates, on the other hand, include most of the fees that lenders will charge you (excluding things like stamp duty), so can help you work out the true cost of the loan. For this reason, we recommend relying on the comparison rate instead of the APR when comparing loan options. 

There are so many lenders out there, that we thought adding yet another to the list wouldn’t help. Instead, Drive exists to help consumers navigate existing lenders in the world of car finance. We work with more than 30 lenders to find you the best rate based on your personal circumstances and give you personalised loan options from multiple lenders.

Available loan amounts vary widely depending on the lender and the customer’s personal circumstances. Currently, Driva works with a panel of more than 30 lenders that have loan amounts available from $2,000 to $250,000 for consumer loans, and up to $750,000 for commercial loans. We are able to provide loan amount options to suit any vehicle purchase from a small SUV to a 4WD vehicle, electric car or sports car.