Find your best MG finance rate with Driva

There are a number of factors that will influence how much you’re able to borrow for a MG car loan. These factors include your credit score, employment status and income. If you’d like to increase your maximum borrowing amount, one way you could do this is by increasing the length of your loan term (ie: from 5 years to 7 years). You could also consider adding a co-applicant to your loan. 

Driva’s smart AI-powered platform and professional car finance team work together to ensure that you’re getting the most competitive finance deal based on your personal circumstances. Whether you’re looking for a brand new MG or are considering buying a second-hand model from a private seller, Driva can provide you with competitive finance packages. 

To get an idea of what your monthly repayments could look like with a Driva car loan, you can check out our car loan calculator tool. Or, if you’re ready to start the car finance process, you can get your personalised quotes in less than 60 seconds.

There are a number of car finance options available to you, whether you’re an individual or business financing a new or used vehicle. Some of our most popular loan products include:

Secured car loans

With a secured car loan, you’ll use your new vehicle as collateral against the loan. This means that if you default on your loan, the lender will be able to repossess the vehicle in order to recover their funds. It also means that you’ll likely be able to access a lower interest rate than with an unsecured loan. Secured loans are normally used for newer cars.

Unsecured car loans

By comparison, an unsecured loan won’t require you to put any asset up as collateral against the loan. Though this means that a lender wouldn’t be able to repossess your car if you defaulted on your loan, you probably would face legal action. Unsecured loans are normally accompanied by higher interest rates, as lenders will view you as a higher risk customer. Unsecured loans tend to be used for older cars.

Commercial car loan options

For our business customers, we have a range of commercial loan options available. These include chattel mortgages, novated leases, ongoing leases and hire purchase arrangements.

You can also consider getting dealer finance, which might suit your needs if you’re looking for a trade-in vehicle arrangement - but bear in mind that you won’t be able to compare loan options from more than 30 lenders as you can with Driva.

Learn More: Buying A Vehicle For Your Small Business - 5 Important Things To Consider

Driva can help arrange pre-approval so you can start shopping for your dream car with the confidence of a set limit in mind (and help you get your vehicle sooner!). Even if you’re not 100% sure of the exact car or purchase amount, we can still help you get pre-approved and then update the purchase amount and car details before settlement.

In order to legally drive a vehicle in Australia you’ll need to have compulsory third party insurance, and for your loan to settle with any of our lenders, you’ll also need to take out comprehensive vehicle insurance. Driva has partnered with CGU Insurance, and are therefore able to offer competitive finance and insurance to our customers. If you’ve got a question about getting a finance and insurance quote, please contact us - or if you’re ready to see your personalised car finance solutions, you can do so here in less than 60 seconds.

If you’d like to chat about your car finance needs or have any questions about the loan process, feel free to reach out to the knowledgeable team in our car finance department on 1300 755 494 or email us at contact@driva.com.au

To get started with your personalised quotes, you’ll just need to provide us with your contact details and a bit of information about you and the car you’re looking to buy. From there, you’ll be able to view all of your best car finance solutions in one place and decide on your preferred lender. We’ll make sure you’re likely to be approved before sending your application over to the lender for your full individual credit assessment (this means no unnecessary hits to your credit file!).