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Local Car Loans Insurance Products

 

Comprehensive Insurance

When you finance the purchase of your motor vehicle, it is usually a requirement of the loan contract to have the vehicle comprehensively insured at all times during the contract term. Insurance needs to be organised before delivery of the car by transferring your current insurance or organising new cover. Local Car Loans is able to provide a competitive insurance quote and take the hassle out of this by doing it for you. This is a free service which we offer to our clients.

 

Local Car Loans offers a number of Car Insurance options including Comprehensive Cover and also Fire, Theft and Third Party Property Damage Cover.

 

Security Shortfall Insurance (Gap Insurance)

Security Shortfall Insurance (GAP) protects you as a borrower by paying the shortfall amount to the credit provider or bank if, in the event that you have a total loss and the amount received from the comprehensive insurer is inadequate to finalise the loan on the vehicle. This may result in you being left with a shortfall or Gap still to pay and no car and still a loan…. Gap Insurance protects you and covers you for this amount (limits apply). This Gap is the difference between the insured value of the vehicle and the pay out to the lender with some minor adjustments.

 

Consumer Credit Insurance ("CCI")

Consumer Credit Insurance protects you, as the borrower, in the advent of accident, sickness, involuntary unemployment, or death. If you are unable to work due to accident, sickness or involuntary unemployment, CCI insurance will cover your loan repayments for a stated period of time or until you are able to return to work. In the event of death, the credit contract may be repaid in full making it one less burden for your family.

 

Vehicle Warranty Products

A parts and labour warranty for new cars and used cars helps you protect your investment and helps minimise the cost in the event of a breakdown to your car. These policies may include towing, accommodation and even car hire!

 

General Advice Warning

The information we provide is general advice and does not take into account your particular financial objectives, financial situation and specific needs. Before making a decision on any of these products, you should consider whether this information is appropriate for you in light of your financial objectives, financial situation and specific needs. For full details of products please request the product disclosure statement relevant to your application.

 

For more information on car finance or motor vehicle insurance please contact Local Car Loans

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car loan calculator queensland australia

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car loan calculator queensland australia

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