Centsible Finance

Read about Different Loan Types here:

Consumer Personal Finance

What is Personal Loan?

Personal loans are typically unsecured loans, meaning they aren’t tied to a specific asset. Unlike auto loans, which are directly linked to a vehicle, personal loans deposit funds straight into your nominated bank account—giving you full control over how the money is used.

What purpose can a personal loan be used for?

Personal loans are flexible and can be used for various purposes, including vehicle purchases, home renovations, debt consolidation, travel, or in cases of emergency. Additionally, personal loans provide the flexibility to combine multiple financial needs, such as purchasing a vehicle while consolidating debt, all under one streamlined loan.

Why get a personal loan over an auto loan if purchasing a vehicle?

A personal loan may be more beneficial for a vehicle purchase if it the vehicle does not meet typical lending criteria requirements for an auto loan, such as an older model or a leisure vehicle like a caravan or motorcycle. Personal loans also allow for shorter loan terms, meaning you could pay it off faster and save on interest, often without early termination fees.

What does secured and unsecured mean?

A secured personal loan requires an asset, such as a vehicle or home equity, as collateral, which generally results in lower interest rates and higher borrowing limits. If repayments are not made, the lender has the right to repossess the asset.
An unsecured personal loan, however, does not require collateral and instead relies on your credit score and income to determine eligibility. While unsecured loans offer more flexibility, they typically come with higher interest rates due to the increased risk to lenders.

What determines the interest rates?

Personal loan interest rates vary based on factors such as credit history, loan type, and the lender’s policies. Since unsecured personal loans are considered higher risk, they generally come with higher interest rates than auto loans. Different lenders assess risk differently, meaning that interest rates, borrowing limits, and loan terms can vary significantly. Because personal loans are often used for non-essential expenses, lenders consider them a higher-risk loan category, which may impact interest rates and approval criteria.

Summary:

Ultimately, the type of loan, your eligibility, and the terms will depend on your financial goals and what you’re looking to finance. Interest rates vary based on lender criteria, your credit history, and overall financial situation.

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Consumer Auto Finance

What is an auto loan?

An auto loan is a type of secured loan specifically designed for purchasing a vehicle. Unlike a personal loan, which deposits funds directly into your account, an auto loan is typically paid directly to the dealership or seller, with the vehicle serving as collateral for the loan.

Does the type of vehicle matter?

Yes, lenders have specific criteria for the types of vehicles they finance. Most auto loans cover new and used cars, utes, and vans, but some older models, high-kilometre vehicles, or specialty cars may not qualify. Additionally, lenders may exclude vehicles primarily used for leisure or business purposes, such as motorhomes, caravans, motorcycles, or heavy machinery. If a vehicle doesn’t meet lending criteria, a personal loan may be a more suitable alternative.

Are dealership and private sales both eligible?

Yes, auto loans can be used for both dealership and private sales, but loan conditions may vary depending on the lender. Some lenders may have stricter policies for private sales, requiring additional checks, while dealership purchases typically involve a more straightforward approval process.

Why get an auto loan if I can get a personal loan?

Auto loans typically offer lower interest rates than personal loans because they are secured against the vehicle. Unlike personal loans, where funds go directly to you, auto loans are paid straight to the dealership or private seller, ensuring the loan is used only for the vehicle. This structured process reduces misuse and can make financing approval easier for eligible borrowers.

What determines the interest rates?

Auto loan interest rates depend on factors like your credit score, income, loan amount, and the lender’s criteria. Since auto loans are secured, they generally have lower rates than personal loans. Other factors, such as your employment and housing status, credit history length, vehicle condition, and loan term, can also influence the rate.

Summary:

Auto loans are a safe and cost-effective way to finance a vehicle purchase, typically offering lower interest rates than personal loans. Eligibility, loan terms, and interest rates vary based on lender criteria, credit history, and vehicle specifics.
‍We compare lenders to help you find the best possible loan for your situation.
‍

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Commercial Auto Finance

What is the difference between a commercial and a consumer auto loan?

Consumer auto loans are for individuals seeking to purchase a vehicle for personal use, whereas commercial auto loans are for businesses, including sole traders, seeking to purchase a vehicle that assists in the business function.

Can a commercial auto loan be used for any vehicle purchase?

Commercial auto loans must be tied to a business purpose. Lenders will assess whether the vehicle as well as the business fits the requirements for the loan type.
Typically, different lenders have different policies and product outlines, meaning that not all lenders provide the same loan services for each application circumstance. For instance, heavier vehicles such as trucks, can be viewed differently among lenders compared to your standard ute, this is why having a trustworthy broker is essential in suiting you to the lender based on your unique circumstance.

Are the interest rates different from consumer auto loans?

Yes, commercial auto loans often have different rates and terms compared to consumer loans. Most businesses will qualify for Low-doc loans, and due to the loans being linked to income producing assets this will often come with more competitive interest rates.

What does "Low-doc" mean?

A low-doc (low documentation) loan is designed for companies, partnerships, trusts and sole traders who won't use financial documents such as payslips, to prove their income. Instead, lenders rely more on the credit file of the individual applying and credibility, with a heavier reliance on length in business with a traceable presence.

Business loans are still based on an individual such as the director of a company, so being a homeowner will still positively influence interest as well as length in business.

Are there different eligibility requirements for commercial auto loans?

Commercial loan applications requirements include ABN, driver's license details and credit file check. If credit history is good, and there is evidence of a clear business purchase, then generally a loan can be highly guaranteed, and there is no proof of income required as low-doc loans rely on trust.
If credit is poorer or proof of business activity is questionable then this may prompt the lender to want to look further into the business profile and require a bit more documentation.

Summary:

Commercial auto loans are structured for business purposes, whether it’s financing a fleet of vehicles or a single vehicle. Low-doc loans make commercial loans more accessible and loan terms vary based on the nature of the purchase, but ultimately, the loan must support the business's ability to generate income.

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Commercial Equipment Finance

What is an equipment loan?

An equipment loan is a type of commercial financing designed to help businesses purchase essential equipment, machinery, or tools. Rather than paying upfront, businesses can spread the cost over time, keeping cash flow stable while ensuring they have the equipment they need to operate efficiently.

What types of equipment can be financed?

Equipment loans cover a wide range of business assets, including: Construction and earthmoving machinery, medical or dental equipment, office technology (computers, printers, software), manufacturing tools and industrial equipment, farming and agricultural machinery etc.
Available lenders may have different policies, so working with a broker helps match your needs to the right lender.

Is an equipment loan secured or unsecured?

Equipment loans are typically secured against the equipment itself. This means the lender uses the equipment as collateral, allowing businesses to access lower interest rates compared to unsecured financing. However, the type of equipment and use may impact the nature of the loan.

Are there tax benefits for equipment loans?

Yes, equipment financing may come with tax deductions and GST benefits depending on the loan structure. Many businesses can claim depreciation, interest expenses, and GST credits on financed equipment. The specifics depend on your business structure and tax obligations, so consulting an accountant is recommended.

Who is eligible for an equipment loan?

Eligibility depends on the lender but typically requires: An ABN or ACN, a minimum trading period, and a good credit history - which would be classed as low-doc.
The loan and eligibility would then also be impacted based on the type of equipment being financed, and varying risk factors, which is why having a good broker is essential in finding the best outcome.

Equipment Leasing & Hire Options:

Through Centsible, businesses can also apply for equipment lease and hire options, allowing them to use the equipment without purchasing it outright while still benefiting from tax deductions. This more uncommon but can be a flexible alternative for businesses that need short-term or long-term access to equipment without committing to ownership.
For leasing inquiries, it's best to contact us directly so we can discuss the best solution for your business needs.

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Commercial Cash-Flow Finance

What is cash-flow finance (debtor finance)?

Cash-flow finance, also known as debtor finance or invoice financing, allows businesses to access cash tied up in unpaid invoices. Instead of waiting for clients to pay, businesses can receive immediate funds based on their outstanding invoices, improving cash flow.

How does cash-flow finance work?

A business provides goods or services and issues invoices to customers.
Instead of waiting for payment, the business submits the invoice to a debtor finance lender.
The lender advances a percentage of the invoice value (usually 70-90%) upfront.
When the customer pays the invoice, the lender releases the remaining balance, minus a financing fee.

There are two types of cash-flow finance, disclosed and confidential. In disclosed cash-flow finance the customer pays the invoice directly to the lender, where the lender then releases the remaining balance to the business minus the financing fee. In confidential cash-flow finance, the customer pays the business directly, as they often don't know debtor finance is being used, this makes the business responsible for repaying the lender for the advance received as well as any agreed financing fees.

What types of businesses benefit from cash-flow finance?

Cash-flow finance is ideal for businesses that operate on invoice-based transactions and experience delayed payments from clients. This includes: trade and manufacturing businesses, transport and logistics companies, professional services (e.g., legal firms, consultancies), wholesalers and distributors, etc.

Is cash-flow finance a loan?

No, cash-flow finance is not a traditional loan. Instead of borrowing money, you are unlocking cash that already belongs to your business. This means there is no added debt—you are simply accessing your own working capital faster.

Is there a commitment period?

Cash-flow finance can be short-term or ongoing, depending on the lender and business needs. Some businesses use it occasionally to cover cash flow gaps, while others rely on it as a continuous funding facility.
You can apply for both short term funding or long term funding, as some lenders offer rolling agreements, often with a minimum volume requirement (e.g., financing a percentage of invoices each month).

If a business wants to stop using cash-flow finance, they typically need to:

Notify the lender (some agreements require a notice period).
Settle any remaining fees or charges.
Ensure all funded invoices are paid (if using invoice factoring, this means customers must complete outstanding payments).

Does my business qualify for cash-flow finance?

Most businesses that invoice clients on net terms (e.g., 30, 60, or 90 days) can qualify. Lenders typically assess: the value and reliability of your invoices, your clients’ payment history, your business revenue and trading history. Since the invoices serve as collateral, credit history is less important than in traditional loans.

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Commercial Small Business Finance

What is a small business loan?

A small business loan provides funding for business expenses, expansion, or working capital needs. These loans can help businesses manage cash flow, invest in growth, or cover unexpected costs.

What can a small business loan be used for?

Small business loans are flexible and can be used for:

Expanding operations or opening a new location
Hiring staff or increasing wages
Covering seasonal cash flow gaps
Marketing and advertising investments
Purchasing inventory or equipment

Is a small business loan secured or unsecured?

Both secured and unsecured options exist. Secured loans require collateral (e.g., property, vehicles, business assets) and often have lower interest rates. Unsecured loans don’t require collateral but typically come with higher interest rates and stricter eligibility criteria.

What are the eligibility requirements?

Eligibility varies by lender but often includes: having a registered ABN/ACN, minimum business trading history (e.g., 6-12 months), proof of revenue and cash flow and a solid credit profile.

How do lenders determine the loan amount?

Lenders assess the loan amount based on: your business revenue and financial health, your debt-to-income ratio and the purpose of the loan.
Stronger financials and a clear loan purpose can improve approval chances and secure better loan terms.

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Consumer Novated Lease Finance

What is a novated lease?

A novated lease is a salary packaging arrangement that allows an employee to lease a car using pre-tax income, reducing their taxable income and potentially increasing take-home pay. Instead of paying for the vehicle with after-tax earnings, lease payments are deducted directly from the employee’s salary before tax is applied, which can result in significant tax savings.

How does a novated lease work?

The employee chooses a car from available options.
This lowers the employee’s taxable income, meaning they pay less income tax overall.
The employer deducts lease payments from the employee’s pre-tax salary and pays the leasing company directly.

Who is eligible for a novated lease?

Eligibility depends on employer policies and income level. It is always best to talk to your employer or management first to confirm eligibility before applying.

Employees who would typically be eligible:

Full-time and permanent part-time employees with stable income.
Employees working for an employer that offers salary packaging.

Employees who would typically NOT be eligible:

Casual workers or contractors, unless their employer allows it.
Employees of small businesses that do not offer salary sacrifice arrangements.
Those with insufficient income to cover lease repayments after deductions.

What are the benefits of a novated lease?

Novated leases can offer tax savings, convenient budgeting, often no GST on the vehicle purchase price—in most standard novated lease agreements the leasing company buys the vehicle on behalf of the employ and claims the GST back, meaning that the employee doesn't have to pay GST on the purchase price of the vehicle.

Are there restrictions on the type of car I can lease?

Most new and used passenger vehicles qualify, but there may be restrictions on age, condition, and commercial vehicles.

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Commercial Operating Lease

What is a commercial operating lease?

A Commercial Operating Lease lets your business use vehicles, equipment, or machinery without needing to own them. Instead, we purchase and retain ownership of the asset while you lease it for a fixed term, making predictable monthly payments.

How does it work?

We own the asset – We buy and hold ownership of the vehicle or equipment.
You lease the asset – Your business gets full use of it during the lease term.
All-inclusive terms – Lease agreements can include maintenance, registration, and insurance.
Off-balance sheet – Lease payments are treated as an operating expense.
End-of-term options – Return the asset, upgrade, or extend the lease.

What are the benefits of an operating lease?

No upfront purchase cost – Free up working capital.
Fixed monthly payments – Budget confidently.
Tax advantages – Lease costs may be tax-deductible.
No residual risk – We take responsibility for the asset’s value at lease end.
Maintenance included – Optional servicing and running costs can be bundled.
Flexibility to upgrade – Stay competitive with newer models or tech.

Summary:

Operating leases are a strategic way to access essential business assets without the financial burden of ownership. We specialise in flexible, all-inclusive leasing solutions tailored to your business needs — from commercial vehicles to tech and machinery.

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Can I apply for a loan with poor credit history?

Yes — while your options may be more limited, there are lenders who work with applicants who have defaults or poor credit. We can help you explore what’s available.

How is my interest rate determined?

Your rate is based on several factors — including your credit score, loan type, lender, financial history, and whether the loan is for personal or business use.

What factors impact my loan approval?

Lenders assess your credit score, income, expenses, existing debts, job or business stability, and the asset you’re financing. Even your living situation and banking conduct can play a role.

Do I need a deposit or upfront payment to be eligible?

Not always — many loans offer 100% financing, especially for vehicles. A deposit can improve your approval odds or reduce repayments, but it's not always required.

What does being asset-backed mean and how does that impact my application?

If you own a property or other significant asset, you’re considered “asset-backed.” Even if you’re not using it as loan security, it shows lenders you have financial stability — which can improve your chances of approval, open up more lender options, and help you access better rates.

How does my credit score affect my application?

A higher credit score usually means better interest rates, more lender options, and stronger approval odds. A lower score doesn’t mean you’ll be declined — but it can impact your rate or limit your choices. It also depends on why your score is lower (like missed repayments vs. minimal credit history).

Can I have someone go guarantor on my loan?

Yes, some lenders allow a guarantor to strengthen your application — especially if you have limited credit history or income. The guarantor must meet eligibility criteria and accept legal responsibility for the loan if you can’t pay.

Can I get a loan if I get payments from Centrelink or government benefits?

Yes, depending on the type and amount of payments you receive. Some lenders accept certain Centrelink benefits as part of your income, especially if combined with other income sources. We’ll assess your situation and match you with the lenders most likely to say yes.

What things can't I finance?

Generally, you can’t finance illegal items, unregistered vehicles, or anything used primarily for personal gain in a commercial loan (and vice versa). Some lenders also exclude very old vehicles or items that can’t be properly valued.

What’s the difference between fixed and variable interest rates?

Fixed rates stay the same for the life of the loan — great for predictability. Variable rates can change over time, meaning your repayments might go up or down depending on the market.

How long can I take a loan out for?

Loan terms typically range from 1 to 7 years, depending on the loan type, lender, and your financial profile. Some options may offer longer terms for certain asset types.

Can I pay off my loan early without penalty?

Some lenders allow early payout without extra costs, but many charge early termination fees, which can vary. It all depends on your loan contract — we’ll help you choose a structure that suits your goals.

What is a Balloon? And can I get one?

A balloon is a lump sum (also known as a residual value) due at the end of your loan term. It lowers your regular repayments by postponing a portion of the loan to the end. Balloons are common in vehicle and commercial finance and can help with cash flow — but you’ll need a plan for the final payment. Balloons are available on some loans, depending on the lender and your application.

Are repayments weekly, fortnightly, or monthly?

Most lenders let you choose — weekly, fortnightly, or monthly — depending on what suits your cash flow best.

Can I refinance my loan later?

Yes — many people refinance to get a better rate, reduce repayments, or free up cash. It depends on your current contract and financial position at the time.

How do I know if I am applicable for a low-doc loan?

If you’re self-employed or don’t have standard financials like tax returns or payslips, a low-doc loan could be an option — especially if you have a solid credit history and can provide alternative proof of income like BAS statements or bank records.

What documents do I need for a commercial loan application?

Low-doc loans require minimal paperwork if your credit and business history are solid — usually just some ID, your ABN, and a credit check. For standard loans, lenders may also ask for recent bank statements, tax returns, or other proof of income depending on the loan type.

Can I finance equipment or tools for my business?

Yes! We can help you finance a wide range of business assets — including vehicles, tools, machinery, office equipment, and more.

Do I need a registered business to apply for a commercial loan?

Yes — you’ll need an active ABN or ACN to access commercial loan options. Sole traders, partnerships, companies, and trusts can all apply.

Is there a minimum or maximum amount I can borrow for commercial purposes?

It varies by lender, but commercial loans can start from as little as $5,000 and go into the millions depending on your financials, purpose, and credit profile.

What’s the difference between a chattel mortgage and a standard commercial loan?

A chattel mortgage is a specific type of commercial loan used to finance business-use vehicles or equipment, where the asset is the security. It offers potential GST and tax benefits, most commercial auto loans will be a chattel mortgage.

Why is it harder to get a loan for Uber, Menulog, and similar gig economy jobs?

Lenders usually avoid Uber, Menulog, or gig-related loans because income can be inconsistent and hard to prove, and the vehicle wears down faster, lowering its value as security. Some lenders may still consider it, but usually with higher rates or tighter conditions. If you have another job, including it in your application can really help.

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Consumer vs Commercial

Read about Different Loan Types here:

Consumer Personal Finance

What is Personal Loan?

What purpose can a personal loan be used for?

Why get a personal loan over an auto loan if purchasing a vehicle?

What does secured and unsecured mean?

What determines the interest rates?

Summary:

Consumer Auto Finance

What is an auto loan?

Does the type of vehicle matter?

Are dealership and private sales both eligible?

Why get an auto loan if I can get a personal loan?

What determines the interest rates?

Summary:

Commercial Auto Finance

What is the difference between a commercial and a consumer auto loan?

Can a commercial auto loan be used for any vehicle purchase?

Are the interest rates different from consumer auto loans?

What does "Low-doc" mean?

Are there different eligibility requirements for commercial auto loans?

Summary:

Commercial Equipment Finance

What is an equipment loan?

What types of equipment can be financed?

Is an equipment loan secured or unsecured?

Are there tax benefits for equipment loans?

Who is eligible for an equipment loan?

Equipment Leasing & Hire Options:

Commercial Cash-Flow Finance

What is cash-flow finance (debtor finance)?

How does cash-flow finance work?

What types of businesses benefit from cash-flow finance?

Is cash-flow finance a loan?

Is there a commitment period?

Does my business qualify for cash-flow finance?

Commercial Small Business Finance

What is a small business loan?

What can a small business loan be used for?

Is a small business loan secured or unsecured?

What are the eligibility requirements?

How do lenders determine the loan amount?

Consumer Novated Lease Finance

What is a novated lease?

How does a novated lease work?

Who is eligible for a novated lease?

What are the benefits of a novated lease?

Are there restrictions on the type of car I can lease?

Commercial Operating Lease

What is a commercial operating lease?

How does it work?

What are the benefits of an operating lease?

Summary:

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Frequently Asked Questions

Can I apply for a loan with poor credit history?

How is my interest rate determined?

What factors impact my loan approval?

Do I need a deposit or upfront payment to be eligible?

What does being asset-backed mean and how does that impact my application?

How does my credit score affect my application?