MTF Finance products

Whether you’re buying from a dealer, privately or online,
MTF Finance can help. You can also get a personal loan,
using your vehicle as security

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MTF Finance products and fees

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Understanding your loan


Our finance options are suitable for just about any vehicle – car, light truck, motorbike, van, ute or farm bike – and they're easy to arrange.

We offer flexible terms so you can fit the frequency and amount of repayments to your budget.

You can include mechanical breakdown insurance, even if you buy privately, as well as payment waiver, that will cover your repayments if you can't through redundancy or illness.

Finance options

Pay cash, borrow or lease?

There are three ways you can finance a vehicle. You can pay cash, get a personal loan or use a finance lease.

Pay cash

If you have enough to pay for a vehicle up front, you'll enjoy the advantage of only paying the purchase price, with no interest or fees, plus the car will be yours with no security registered against it, from day one. Of course, the cash you used then won't be available for anything else, whether it's that dream holiday or a rainy day.

Bottom line:

Paying cash is a good option if you have the cash and still have enough left over for your other needs.


The advantages of taking out a loan are that you get the car you want now, with little or no deposit, and you still have your savings or other credit facilities available for something else. With this option you pay interest and you can talk to MTF Finance about ways to minimise the cost of your loan.

Bottom line:

Borrowing is a good option if you don't have the money now but want to own the motor vehicle as soon as possible.


Vehicle leasing is a cost-effective way to enjoy the use of a vehicle without the responsibility of ownership. There's no initial outlay and payments may be lower than loan repayments. Because you never actually own the vehicle, you can easily upgrade to a newer model at the end of the lease term or simply walk away.

Bottom line:

Vehicle leasing is a cost-effective option if you use your vehicle for business, plan to use the vehicle for a fixed period of time or like to upgrade your car regularly.

Car finance vs. mortgage finance

Sometimes people use a home loan to finance other things, such as a boat, overseas holiday or a new vehicle. But putting the car 'on the house' may not be the best solution.

Check the total cost

Home loan interest rates are usually lower than car finance rates, but in most cases the term of a home loan is a lot longer. If you put your car 'on the house', you may pay interest for much longer, making the final cost significantly higher.

Think about the unexpected

If you use a revolving credit facility or overdraft to finance your car, you may need to pay it off faster than if you had a car loan, to enjoy any real savings. And doing that will mean using cash that you may need for unexpected costs, such as home repairs or health emergencies.

Finance lease

An MTF Finance finance lease is ideal for a business not wanting to tie up working capital in a vehicle. It may also suit some personal customers.

Key features

  • lease term of 46 to 48 months
  • fixed payments for the term of the lease
  • maintenance option available to cover service costs

How it works

You enjoy the use of the vehicle for the term of the lease and, at the end of the term, the vehicle is offered for sale. If the net sale proceeds exceed the vehicle value agreed when you took out the lease, MTF Finance will pay you the difference. If the net sale proceeds are less than the agreed value, you pay MTF Finance the difference.

Business advantages

If you're a business customer, you may claim GST on the principal portion of each instalment, and your payments are tax deductible. The vehicle is recorded on your balance sheet, so you can also claim depreciation.

Operating lease

The latest model at an affordable price.

An operating lease, available from selected MTF Finance providers, is a cost-effective way to upgrade your vehicle, or your entire company fleet. For a minimal outlay, you can upgrade your vehicle lease every 6 to 45 months. At the end of each vehicle lease you can choose to lease again, or simply walk away.

Key features

  • lease term to suit your requirements – from 6 to 45 months
  • fixed payments for the term of the vehicle lease
  • maintenance option (which covers the cost of servicing and maintenance) available
  • option to upgrade at the end of each vehicle lease period

Business advantages

If you are a business customer, you can claim GST on each instalment, and your payments are tax deductible. Unlike a finance lease, assets financed under an operating lease are not recorded on your balance sheet.

Loan vs. lease


Operating lease

Finance lease

At the end of the contract
Residual value liability
Can be new or used
Recorded on your balance sheet
Fixed rate for full term of contract
Calculated on GST inclusive price
Calculated on GST exclusive price
Tax benefits for business
Interest and depreciation deductible
Interest and principle are deductible
Calculated on cost of goods
Risk protection
Comprehensive insurance (required)
Mechanical breakdown insurance (optional)
Payment waiver (optional)
Minimum-maximum 3 - 48 months 6 - 45 months 46 - 48 months

Protection products

Payment waiver

You can't predict when you might be affected by redundancy, injury, illness or even death, or how you'll manage if your vehicle is written off and you still owe money.

Payment waiver is an optional product you can select which provides protection if the unexpected happens. When payment waiver applies, the payments under your contract will be waived, within agreed limits, if an agreed event occurs and all other conditions are satisfied.

The cost of payment waiver is included in your repayments for the full term of your loan. You choose the level of payment waiver you want, so that your repayments will be taken care of in the following situations:

Level of payment waiver

Events to which payment waiver applies

  • death
  • disablement
  • terminal illness
  • redundancy
  • insurance shortfall
  • death
  • disablement
  • terminal illness
  • redundancy
Silver Plus
  • death
  • disablement
  • terminal illness
  • bankruptcy
  • insurance shortfall
  • death
  • disablement
  • terminal illness
  • bankruptcy
Bronze Plus
  • death
  • insurance shortfall
  • death
  • insurance shortfall

What is insurance shortfall?

Insurance shortfall is the difference between the payout under your comprehensive vehicle insurance policy for a total loss of your vehicle and the amount you owe MTF Finance on the same vehicle. When payment waiver applies, payment of that difference is waived, up to $10,000.

What happens if my circumstances change?

If you select payment waiver with your finance, we'll waive your loan repayments if something unexpected happens, such as redundancy or a serious illness that prevents you from working for an extended time.

You choose the level of payment waiver required at the time you take out the loan.

If you can't manage your repayments for another reason, talk to your local MTF Finance contact as soon as possible. We may be able to help you find another solution.

Terms and conditions apply

To make a payment waiver claim, call 03 378 3425 or email

Mechanical breakdown insurance

MTF Finance mechanical breakdown insurance may be included in your loan.

You are covered if your vehicle has an unexpected mechanical or electrical problem.

With mechanical breakdown insurance, we provide AA Roadservice, 24 hours a day, 365 days a year, plus accommodation and transport if you can't get to where you're going.

Mechanical and electrical repair

You'll be covered for the reasonable cost of repairing most mechanical and electrical problems.

24-hour AA Roadservice

Roadside help is only a phone call away for mechanical breakdown, a flat battery or tyre, or even if you're out of fuel or have locked yourself out.

Simply call 0800 581 581 and quote your policy and vehicle registration number.

Accommodation or vehicle rental

If it takes more than 24 hours to repair your vehicle, and you're more than 100km from home, you'll get up to five days accommodation or five days vehicle hire (maximum limit applies).

Vehicle recovery

Covers the cost of towing your vehicle to the nearest approved repairer.

Generous claim limits

There is no limit to the number of claims you can make during your policy, although there is a limit to the amount that can be paid during any policy period or for any single breakdown.

Making a claim

Call 0800 809 700 to find your nearest approved repairer.

You will need your Certificate of Insurance so the repairer can confirm that you're able to make a claim.

Terms and conditions apply