Latitude Finance Review
Previously owned by General Electric, Latitude Financial Services is a diversified non-bank lender that offers a range of financial products.
Best for
Older vehicles, with vehicles up to 20 years old at the end of the loan permitted
Open to some impaired credit history (e.g. payday loans, some late payments on credit cards as long as they are not Latitude facilities)
Draw backs
In some cases, Latitude can be slower to approve and fund, so you may need to be patient if you pick Latitude as your preferred option
Latitude Finance Overview
Previously owned by General Electric, Latitude Financial Services is a diversified non-bank lender that offers a range of financial products. These include traditional products like unsecured personal loans, car loans and credit cards, but also buy now pay later (interest-free) and insurance products in both Australia and New Zealand.
How to apply for a Latitude Finance car loan
Latitude Financial is a little bit less strict than other lenders, which means as long as you have a credit score above 300 (aren’t a new credit file), and the car you’re looking to buy is newer than 20 years old, you can apply for a Latitude car loan.
You’ll need to be in some form of employment, but if you’re full-time employed there’s no minimum length of employment before you can apply (provided you’ve stayed in the same industry). If you’re a casual or contractor, you’ll need to have been in your role for at least 12 months (and 24 months for self-employed applicants).
Driva tip: Latitude Finance can be useful for customers looking for a secured or unsecured, fixed or variable product on a new or older vehicle. With Driva, you can play around with vehicle age at the time you’ve received your quote to see what your best loan matches are.
See if you qualify for a Latitude loan in minutes
9.24% (10.68% comparison rate*)
$5,000+ (max loan amount depends on your financial situation)
2-7 years
Consumer, personal and commercial loans
N/A
N/A
Yes
- Establishment fee: $395
- Monthly: $13
- Early repayment fees: Maximum of $750 (reduces over the life of the loan)
- Brokerage: up to $2,250
*Last updated 15/04/24
Big no-no's (automatic declines)
Bankruptcies - regardless of whether they are current or discharged
Unexplainable late payments (common sense rule applies)
Any late repayments on Latitude facilities.
Other hot tips
Make sure you don't have any late repayments on Latitude facilities including Latitude Pay and credit cards if you wish to apply with them!