Liberty Financial

Founded in 1997, in less than 20 years Liberty Finance has loaned over $12 billion to more than 140,000 people. They are a large player in the car loan market, especially for clients who may have had financial difficulties in the past such as bankruptcy or a bad credit history.

To be approved for a Liberty Financial Services loan if you have credit problems, you must prove you are in a stable employment position, and that you can service the loan. Liberty Financial will request bank statements to determine an individual’s spending habits and whether they have been charged fees for irregular activities such as overdrawn accounts or direct debit dishonours.

Liberty Finance Car Loans

Lately Liberty has been working hard to attract car loan clients who have good credit histories by offering excellent interest rates. They are flexible when it comes to the age of the vehicle but they will only approve loans for cars purchased through a licenced dealer.

Liberty also have car loan solutions for self-employed or require vehicles for their business.

Liberty Finance Personal Car Loan

Liberty offer finance options for individuals regardless of their credit history. For those who have a good credit history, the Liberty Drive package offers:

• Loans from $5,000 - $100,000
• Fixed rates so you always know what your repayments will be
• Flexible loan terms from 2-7 years with weekly, fortnightly or monthly repayment options
• Optional balloon payments options
• Novated Leasing

If credit history is a problem for an applicant, or they have an irregular income, Liberty has a product that specifically caters to their needs called Out Of The Box. It’s features include:

• Higher interest rates
• Loans from $5,000 - $75,000
• Flexible loan terms from 2-7 years with weekly, fortnightly or monthly repayment options
• Optional balloon payment
• Flexibility to purchase vehicles up to 20 years old

Liberty Finance Business Car Loan

For a basic business car loan, Liberty Business is a product that offers standard features, including:

• Loans from $5,000 - $100,000
• Fixed rate terms
• Flexible repayment options including 2-7 year loan terms, and weekly, fortnightly or monthly repayment options
• Optional balloon payment
• Flexibility to purchase vehicles up to 20 years old
• Extra car loan protection options

For self-employed applicants, Liberty Financial Services offers a low-doc loan product that is flexible in how it assesses their true income capacity and net financial position. Whether you’re a brand new startup, or been in the game for many years, Liberty Finance are open to offering assistance. Its features include:

• Loans from $5,000 - $80,000
• Fixed rate terms
• Flexible repayment options including 2-7 year loan terms, and weekly, fortnightly or monthly repayment options
• Optional balloon payment

Liberty Finance in the Community

Along with offering a number of car loan products, Liberty also have a strong commitment to the local community. The Liberty-Lend-A-Hand program offers financial and volunteer support to a number of organisations, including:

• The Mirabel Foundation - Provide assistance to children who have been orphaned or abandoned by parents with drug issues who are still living with extended family members.
• The Beacon Foundation - Helping young people achieve success without dependence on past generations.
• AARDVARK - Songwriting program for young people, predominantly for those at risk, disengaged or facing adversity and unable to access musical programs.

Liberty Financial Services

The beauty of Liberty Finance’s car loans division is in the simplicity of its products. They are very open to the idea of helping those who may not get approved by other lenders. They also believe in providing loans for startups and businesses that may find it difficult to specify exactly how much they are earning at any given moment.

Liberty’s relaxed attitude to the age of the vehicle they can buy also attracts clients who may wish to purchase an older car. Many lenders have tight restrictions on how old a car can be, often not allowing clients to buy vehicles any older than seven years.

However, while the simplicity of their loan products is a positive for individuals, it restricts what they can offer to businesses. For example, there are no chattel mortgage, novated lease, finance lease or other business specific car loan options, leaving business owners looking for single or fleet car loans that suit their accounting structures short of choices.