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St George Car Loans

St George was founded in 1937 as a building society before achieving full banking status in 1992. St George Bank became part of the Westpac group in 2008, specialising in retail and business banking, and growing its customer base to more than 2.6 million people.

Given its partnership with one of Australia’s Big Four banks, St George is able to offer a multitude of services to its customers. Its personal banking products include bank accounts, home and personal loans, credit cards, insurance, superannuation and investments; while its business banking products include bank accounts, credit cards, business loans, superannuation, insurance, payment and agribusiness solutions.

When it comes to St George car loans, the options for individuals are secured and unsecured personal loans, while for businesses the options are goods loans (chattel mortgage), hire purchase, finance lease and novated lease agreements. You will be able to track and administer your St George finance car loan online through their internet banking facility.

The feature of St George car loans that stands out is the minimum amount you can loan. A minimum loan amount of just $3,000 is well below what most other lenders stipulate.

If you’re at least 18 years of age with an Australian residential address you can apply for a St George car loan. It’s possible for applications to be approved on the same day, should all documentation be included when the application is submitted.

St George Personal Car Loan

St George car loans are available as secured or unsecured loans, with each offering varying features based on the risk profile of the borrower.

St George Secured Car Loans

By using the vehicle as security, the interest rates are reduced for St George secured car loans. Features include:

  • Borrow from $3,000 to $40,000
  • Choose from fixed or variable interest rates
  • Fixed interest rate terms from 1-5 years
  • Variable interest rate terms from 1-7 years, can make extra repayments without penalty
  • Redraw facility available for variable rate personal loans
  • Flexible repayment options - weekly, fortnightly or monthly

St George Unsecured Car Loans

If you choose not to use the vehicle or any other personal property as security, the interest rates will be higher than for a St George unsecured car loan. Features include:

  • Borrow from $3,000 to $80,000
  • Choose from fixed or variable interest rates
  • Fixed interest rate terms from 1-5 years
  • Variable interest rate terms from 1-7 years, can make extra repayments without penalty
  • Redraw facility available for variable rate personal loans
  • Flexible repayment options - weekly, fortnightly or monthly

St George Business Car Loan

There are four St George Bank car loan options for businesses, each with their own unique benefits. Whichever option you choose, the minimum loan amount is $15,000 with flexible periodical repayment terms from 1-7 years.

St George Goods Loan (Chattel Mortgage)

After successfully applying for a St George Bank Goods Loan, you source and buy the vehicle, owning it outright with the loan secured against the vehicle. There are a multitude of tax benefits for businesses:

  • Claim GST on the purchase price in your next BAS statement
  • Claim depreciation and the interest portion of loan repayments
  • 100% finance, meaning you can roll all additional costs into the loan amount

St George Hire Purchase

Unlike a Goods Loan, with a Hire Purchase Loan St George buys the vehicle and the borrower repays them in installments. Once all repayments have been made, ownership of the vehicle is transferred into the borrower’s name.

Similar to the Goods Loan, depreciation on the vehicle and GST on interest repayments are usually tax deductible.

St George Finance Lease

Similar to Hire Purchase, a Finance Lease agreement means St George will purchase the vehicle and rent it to you for an agreed period of time. You then have the option of buying the vehicle for market value, or St George will sell the car.

St George Novated Lease

A Novated Lease is exactly the same as a Finance Lease, only it’s for individual employees of a company who wish to buy a vehicle for private use. An employer takes on the responsibility of making the lease payments on behalf of the employee from their pre-tax salary. This is advantageous for the employee because their taxable salary will decrease, meaning they will pay less income tax.

St George Programs and Initiatives

Along with offering a range of car loan packages for individuals and businesses alike, St George is also involved in a number of community programs and initiatives. These include:

  • Discounted banking for people with special needs, including pensioners, physically and mentally challenged customers, students, concession cardholders, not-for-profit organisations and specialised services for rural customers.
  • In Touch With Money - a new program designed to educate young people about basic money management.
  • Wesley Mission Credit Line - An education program offering advice on managing money and financial risks to avoid. Community groups can access materials for this program online.

St George Bank has also formed several corporate partnerships with sporting organisations and events, including:

  • St George-Illawarra Dragons (NRL club) - A 30 years association that also encompasses junior rugby league in the area.
  • St George OpenAir Cinema - A major Sydney event featuring a three-storey cinema screen showing new and classic movies.
  • Queensland Reds (Super Rugby club) - Principal sponsor as well as supporting coaching clinics right across Queensland.

The St George Foundation aims to assist charities and community groups who work to improve the lives of socially, economically and physically disadvantaged children. In the 25 years the program has been running, the St George Foundation has committed $25 million in funding grants to 800 charities and community groups, assisting over 600,000 children in need.

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