Find your best Ford finance rate with Driva

There is a wide range of finance options out there, so it’s important to take your time to compare different Ford finance rates and ensure that you’re getting the Ford car loan that best suits your unique personal circumstances. Before you start shopping, it's a good idea to think about how much you want to spend on your new car.

Secured car loan

Secured car loans are one of our more popular loan products. They involve using your car as collateral against the loan, which enables lenders to pass on lower interest rates. This is because they have the confidence that they can repossess your car if you default on your loan. Secured loans are best suited to new cars.

Unsecured car loan

Unlike secured loans, unsecured car loans don’t require any collateral. Though this means that you’ll have to pay a higher interest rate, it also means that your lender can’t immediately repossess your car if you default on your loan (though you might face legal action). 

Learn more: Secured vs Unsecured Car Loan - A Complete Overview

Personal loans

An unsecured personal loan works in the same way as an unsecured car loan, except there aren’t any restrictions on how you must spend the loaned money. You might, for example, choose to borrow more than you need in order to pay for other car-related costs like modifications to the vehicle.

Commercial loan options

If you’re looking to buy a vehicle to use for a commercial purpose, we have a range of business vehicle options available. These include getting a chattel mortgage, finance lease, novated lease or a hire purchase arrangement. Note that commercial loans are not available for non-business customers.

One of the biggest decisions you’ll face when you start shopping for your new Ford is whether you’re going to buy it brand new or second hand. There are advantages and drawbacks to both options, so the right decision will depend on your personal and financial circumstances.

New cars

New cars will obviously be more expensive, but you’ll likely end up spending less on repairs, which can result in substantial savings. Although they’ll be equipped with all the latest technology, they’ll also depreciate much quicker, as cars generally depreciate the most in the first three years.

Used cars

One of the main advantages of buying a used car is that you can save a considerable amount on the purchase price. However, you might end up spending more on repairs as your used car will have wear and tear (and in some cases, some bigger issues too) over time. The technology will be a bit outdated, but the car will depreciate much slower than a new Ford would. 

Every lender charges fees in addition to interest, so it’s important to be aware of these before signing any loan agreement. These fees might include entry fees, monthly fees or early repayment fees.

Whether you’re a business customer with questions about a finance lease, or a first-time car owner with questions about how refinancing works, feel free to get in touch with Driva’s finance team. Give us a call on 1300 755 494 or email us at contact@driva.com.au.

After you’ve been approved for your loan, you’ll need to begin the process of paying back the loan (plus interest and fees) to your lender. All of Driva’s lenders offer loans with a fixed interest rate, which means that you’ll have fixed repayments for the duration of your loan, and the amount you pay won’t change (making it easier to budget!). Most vehicle loans have a loan term of between 1 and 7 years, so you’ll need to continue making repayments until the loan is paid off in full.