Metro Finance Car Loan Review
Metro Finance is an Australian independent commercial auto and equipment lender that offers competitive car loan rates for established businesses. Metro's assessment times vary based on their volumes, however generally range from 1-2 business days.
Competitive rates for established businesses looking for a vehicle for business purposes, particularly if the vehicle is less than 5 years old
Suitable for businesses purchasing heavy machinery and other wheeled equipment as well (e.g., trucks, tractors, etc.)
Metro conduct a very thorough credit assessment which means that we may have to request additional financial documentation from you before or throughout the assessment process
Private sales incur a small increase in interest rate, which is good to be aware of if changing from a dealer to private sale
Metro Finance Overview
Metro is an Australian independent commercial auto and equipment lender that specialises in vehicle loans for established businesses, including heavy machinery and other wheeled equipment. They were established in 2011 and are a non-bank lender with Private Equity backing.
They offer competitive rates for established businesses, especially those looking for a vehicle that is less than five years old to use for business purposes.
Metro's assessment times vary based on their volumes, however generally range from 1-2 business days. They offer their best interest rates for vehicles that are bought through a dealership, and slightly higher rates apply for private sales.
How to apply for a Metro Finance loan
To apply for a car loan with Metro, you’ll need to be at least 18 years old and have a clear credit history. You’ll also need to be either an Australian citizen or permanent resident.
Additionally, your business will need to have been running for at least two years to be eligible for car finance.
See if you qualify for a Metro Finance loan in minutes
8.25% (10.60% comp rate*)
$5,000 to $400,000
1 to 5 years
- Establishment fee: $495
- Monthly: $0
- Early termination charges: Depends on exit point
- Brokerage up to $900, commission up to 8%
Big no-no's (automatic declines)
If you’re looking to use your vehicle for Uber or other rideshare companies
If the vehicle you’re looking to buy will be more than 12 years old at the end of the loan period
Driva tip: Your business will need to have been operating for at least 2 years to be eligible for a loan with Metro
Other hot tips
Stricter credit criteria than many other commercial lenders, meaning you’ll need to be a top quality commercial customer to be approved with Metro