Buying & finance process
Borrowing for the first time? Where to find information you can trust
26 September 2026 · 5 min read
Taking out your first loan, whether it's for a car, a personal purchase or something for work, can feel daunting. There's plenty of information out there, but not all of it is reliable, and some is designed to sell you something. Here's how to get your bearings.
Start with free, independent resources
ASIC's Moneysmart website is run by the government regulator and offers free, independent guides and calculators covering loans, credit reports and budgeting. It's a good place to check anything you've heard elsewhere.
Know the key terms
- Interest rate: the cost of borrowing, shown as a yearly percentage
- Comparison rate: a rate that includes most fees and charges, useful for comparing loans
- Secured loan: a loan backed by an asset, such as the car you're buying
- Term: how long you have to repay the loan
- Balloon or residual: a lump sum due at the end of some loans
- Credit report: a record of how you've used credit, which lenders check when you apply
Watch for red flags
Be cautious of anyone who:
- Promises guaranteed approval before looking at your situation
- Pressures you to sign quickly
- Asks for large upfront fees before anything is arranged
- Can't show that they hold, or are authorised under, an Australian Credit Licence
- Discourages you from reading the contract or asking questions
Check who you're dealing with
Lenders and brokers who provide consumer credit in Australia must hold an Australian Credit Licence or be authorised under one. You can check this on ASIC's professional registers. Finsterl Finance holds Australian Credit Licence 568199.
Build good habits early
How you manage your first loan helps shape your credit history for years. Choose repayments you can comfortably afford, set up automatic payments, and contact your lender early if you ever have trouble paying, because many lenders have hardship processes.
General information only
This article is general information only. It does not take your personal circumstances into account and is not personal credit, legal, tax or financial advice. All finance is subject to lender assessment and approval.
The Finsterl view
We're happy to explain anything you're unsure about, with no jargon and no pressure. Call the Finsterl Finance team on 1300 508 827 or send us an enquiry. All finance is subject to lender assessment, eligibility criteria, terms and conditions.
All finance is subject to lender assessment, eligibility criteria, terms and conditions. Rates and fees depend on individual circumstances.
Run the numbers
Estimate your repayments
Estimates only, but a good place to start a real conversation.
A balloon lowers the monthly repayment but increases total interest paid.
Estimated monthly repayment
$933.91
$215.68 per week equivalent
Amount financed
$45,000
Balloon at end of term
$0
Total of repayments (incl. balloon)
$56,034
Excludes lender and broker fees, which vary by lender and product.
This calculator provides estimates only and does not constitute financial advice, a finance approval or a guarantee of business performance. Actual repayments, costs and business outcomes may differ.
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