CBA Car Loans And Motor Vehicle Finance

CBA has strict governance policies which it must work under and these include strict guidelines in regard to loan approvals. Many of these lending guidelines were tightened as a result of the Royal Commission, during the COVID-19 crisis and may be amended at times, due to other factors.

When you apply directly to the bank, the representative you are dealing with must adhere to these strict guidelines in regard to your application. As a finance broker, your Jade consultant will be dealing with our industry contacts and can have a greater possibility to have any issues which may be present an obstacle to your loan approval, eased.

Your Jade consultant will know how CBA price their loans and the processes they undertake to approve loans – both personal and business. Having this level of information and insight enables your consultant to complete your application in a way that will meet the CBA guidelines.

The car you wish to purchase may not come within the CBA guidelines. We note on their website that one of the conditions of the CBA Secured Car Loan is that it is not for vehicles which are older than 5 years. So if you are purchasing a used car which is more than 5 years old, your loan application to CBA may be rejected.

To be eligible for CBA Business Vehicle Finance, the site notes that a business must have been trading for over 12 months and have a good credit rating. So if you are a new business, and have little documentation or credit issues, Jade Car Loans would seek an alternative lender to the CBA for your car finance.