SUV Finance with SME Lend

Yes, used SUVs are eligible for financing. This option often reduces the purchase price, though the vehicle’s condition, mileage, and age may influence the terms and interest rates offered.

Commonly needed documents include proof of identity (driver’s license or passport), income verification, credit history, and details of the SUV (make, model, price, and seller). For businesses, ABN/ACN and financial statements may be required.

Not always. Some lenders offer no-deposit options, though providing a deposit can lower your loan amount, reduce monthly payments, and improve approval chances, especially if your credit score is moderate.

Repayment terms range from 12 months to 7 years, depending on the lender and loan structure. Shorter terms may have higher monthly payments but lower total interest costs, while longer terms offer more manageable payments.

Interest rates typically range from 5% to 15%, depending on your credit score, loan term, and the vehicle’s value. Applicants with strong credit and stable income generally qualify for lower rates.

Yes, many lenders allow bundling additional costs such as insurance, registration, and extended warranties into the loan, reducing your upfront expenses while consolidating your payments.

Financing allows you to own the SUV outright after paying off the loan, while leasing provides temporary use for a set period. Leasing may have lower monthly payments but often includes mileage and wear restrictions.

Yes, most lenders or dealerships accept trade-ins. The trade-in value of your current vehicle can be used as a down payment, reducing the amount you need to borrow.

Missing a repayment may result in late fees, additional interest charges, or a negative impact on your credit score. It’s crucial to contact your lender immediately to discuss alternatives if you anticipate financial difficulties.

Yes, refinancing is an option if you want to lower your interest rate, adjust repayment terms, or consolidate debt. This can be especially useful if your financial situation improves after the initial loan agreement.

If the SUV is used for business purposes, you may claim tax deductions for loan interest, depreciation, and operating costs. Consult a tax advisor to understand the specific benefits applicable to you.

Yes, many lenders offer financing for electric or hybrid SUVs. These vehicles often qualify for government incentives or rebates, which can reduce the overall cost of ownership.

Approval timelines vary by lender but generally range from 24 hours to a few business days. Faster approvals may be possible with pre-approval or by providing all necessary documents upfront.

There’s no universal minimum, but most lenders prefer a credit score of 600 or higher. Applicants with lower scores may still qualify but might face higher interest rates or require a co-signer.

Yes, modifications like installing racks, upgrading interiors, or adding custom features are allowed in most cases. However, it’s recommended to check with your lender to ensure compliance with the financing agreement.

You can apply online, through a dealership, or with a finance broker. The process involves filling out an application, submitting documentation, reviewing loan terms, and finalizing the agreement once approved.