Property - the vehicle in the case of car finance - that a financier can claim in case a borrower defaults on their loan obligation.

Acronym for T

The length of a loan, normally expressed in months or years.

Unpaid future interest included in an early payout figure. Also colloquially known as a Payout Penalty

A method of amortising interest across the payments made over the life of a loan, used by almost all Australia vehicle financiers for commercial car finance facilities.

A lump sum owed to the financier at the end of a loan's term, expressed either as a dollar value or a percentage of the amount borrowed.

A personal finance product where the financier lends the customer funds which can be used to purchase a car or other vehicle, but does not hold any security over the loan.

A method of salary packaging a car or other vehicle, under which an employee leases a car and the employer agrees to take on the employee's obligations under the lease, paying the monthly lease r [..]

A tax paid on new passenger vehicles whose sale price exceeds the Luxury Car Tax Threshold

A commercial car finance product under which the financier purchases the vehicle on the customer's behalf, and then leases it back to them for a specified period of time.