Does Mitsubishi have its own financing options in Australia?
Yes, Mitsubishi Motors offers financing options for customers looking to purchase Mitsubishi vehicles. Mitsubishi Motors Financial Services (MMFS) provides a range of finance solutions tailored to meet the needs of Mitsubishi customers, including:
- Consumer Finance includes traditional car loans, where customers borrow a set amount of money from MMFS to purchase a Mitsubishi vehicle and repay it over an agreed-upon term with interest.
- Novated Leasing may offer novated leasing options, where employees can lease a Mitsubishi vehicle through a salary packaging arrangement with their employer. This can provide tax benefits and convenience for both employers and employees.
- Chattel mortgage is a type of finance where the customer takes ownership of the vehicle at the outset, and MMFS provides funds for the purchase. The vehicle serves as security for the loan, and once the loan is repaid, the mortgage is removed, and the customer gains full ownership of the vehicle.
- Finance solutions, that are tailored to the needs of businesses, including commercial hire purchase, finance lease, and operating lease options for purchasing Mitsubishi vehicles for business use.
As an alternative, you can also take out a personal loan. Your possible expenses:
Personal loan calculations for 1 year (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 5,000 | 8.25% | 223 |
| 5,000 | 15.25% | 413 |
| 5,000 | 22.25% | 603 |
| 10,000 | 8.75% | 474 |
| 10,000 | 15.75% | 853 |
| 10,000 | 22.75% | 1,232 |
| 15,000 | 9.25% | 752 |
| 15,000 | 16.25% | 1,320 |
| 15,000 | 23.25% | 1,889 |
| 20,000 | 9.75% | 1,056 |
| 20,000 | 16.75% | 1,815 |
| 20,000 | 23.75% | 2,573 |
Where else can I get a loan for a Mitsubishi used or new car?
Major banks such as Commonwealth Bank, Westpac, ANZ, and National Australia Bank (NAB) offer car loans that can be used to finance the purchase of used Mitsubishi vehicles.
Credit unions like CUA, IMB Bank, and Teachers Mutual Bank may offer competitive car loan options for used Mitsubishi cars. They often provide personalized service and may offer lower interest rates than traditional banks.
Online lenders such as Wisr, RateSetter, and SocietyOne offer car loans that can be used to finance the purchase of used Mitsubishi vehicles. Online lenders often provide a quick and convenient application process.
There are specialist car finance providers in Australia that specifically focus on providing finance for used cars. These providers may offer flexible terms and competitive rates for financing used Mitsubishi vehicles.
