Despite not being a legal requirement in Australia, the rule of thumb is that if you can’t afford insurance, you can’t afford a car: don’t go anywhere or even leave the lot without it.
Types of insurance run from third party which only covers damage to someone else’s vehicle, all the way to comprehensive which can have your back come rain, hail, shine or accident.
Enquire about car insurance.
Your payment will take into account the kind of car you’re insuring, any previous insurance history, who’s driving it, whether you’ve previously been in an accident and where the vehicle is most commonly parked overnight. Remember to carefully go through the policy to know what you’re covered (and not covered) for, and in which circumstances so you’re never caught out.
Defence Bank works with leading Australian insurer CGU to give those who get their car loan with us a great deal on their car insurance as well - and applying is as easy as ticking a box during your loan application.