Flexible repayment options

Driva works with a panel of over 30 lenders to give you as much choice and flexibility over your car loan options as possible! Every lender charges different fees and has different conditions, so it’s important to check the details of each loan option before making a decision. For example, if you think you’d like to make extra repayments on your loan or would like to make a balloon payment on your loan, you can check which lenders are the best suited to this.

Competitive interest rates

There are a number of factors that will influence the interest rate that lenders set for your loan. One of these factors is whether you’re getting a secured or unsecured loan. If you’re buying a new car, you’ll likely be looking at secured loans, which means that your new car will be used as collateral against the car. By comparison, unsecured loans are more suitable for older and used cars and don’t require any collateral. For this reason, secured loans tend to be accompanied by much lower interest rates, as you’ll be viewed as a lower risk customer by the lender.

Another factor that will likely impact your interest rate is your credit score - the better your score, the lower the rate. However, there’s a wide range of other factors that may have an impact, like employment status, income and purchase price, depending on which lender you’re looking at. Driva can find you a competitive interest rate on a range of Mitsubishi vehicles, and getting your personalised quotes takes just minutes.

Variety of finance options

From secured loans to unsecured loans, including personal loans, and chattel mortgages to finance leases, Driva has a number of finance options to suit all different financial circumstances. We can facilitate consumer and commercial car loan offers, as well as finance for cars, caravans, motorcycles and almost anything else on wheels!

The maximum loan amount and estimated monthly payments for a Mitsubishi vehicle loan are determined by your individual financial situation. To calculate these figures, factors like your living situation, employment status and income will be considered. If you’re looking to adjust your maximum borrowing amount, you might consider modifying the length of your loan term (e.g. from 5 to 7 years) or adding a co-applicant to your loan.

Driva's smart platform and local team of finance professionals can help you determine the ideal financing choice based on your personal circumstances, allowing you to get a better sense of how much you might be approved for. Whether you’re looking to buy a brand new Mitsubishi, or if you’re more interested in a used car, Driva can help you find a great finance option.

Every lender has different lending criteria and eligibility requirements, so the minimum credit score will vary between lenders - for some lenders, they won’t look at your credit score at all! In most cases though, the higher your score, the lower the interest rates you’ll be able to access.

Your credit score isn’t the only metric that lenders will use to price your loan. They’ll also often consider other factors including your income, employment status, living situation and if you’re adding a co-applicant to the loan. If you’ve got questions about how your credit score might impact your Mitsubishi finance rate, or questions about your Mitsubishi finance options in general, feel free to get in touch with our friendly team on 1300 755 494 or email us at contact@driva.com.au.

Absolutely! If you’re not happy with your current car loan, Driva can help you refinance by finding a flexible car loan that better suits your personal circumstances. Refinancing can be a great option for anyone looking to access lower fees, cheaper interest rates, an alternate loan term or more convenient repayment options.

Balloon payments are a type of finance product where you’ll make reduced monthly repayments over the duration of your loan but will need to make a large lump-sum payment at the end of the term. Balloon payment car loans are a great option if you’re wanting to lower your monthly repayments and are happy to budget for a larger payment at the end of the loan term.

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

A comparison rate is the interest rate you’ll be charged by a lender, and it includes almost all fees and charges (except for things like stamp duty). The comparison rate may include charges such as early repayment fees, ongoing fees or termination fees depending on your lender.

Looking at the comparison rates of your loan options is a great way to figure out the true cost of your loan and can assist you in making smart financial decisions. When comparing loan options between financial services, be wary of relying too heavily on the quoted Annual Percentage Rate (APR), as these don’t include any fees and charges so can be quite misleading.