What does Prepaid Cars do?

Prepaid Cars offer a large and growing number of consumers who do not meet the typical financing requirements of today’s lenders, an opportunity to own a better quality used car.

Prepaid Cars delivers a service to the consumer that offer a number of key benefits, the most important being hassle free motoring and convenience delivered through a fully maintained rental agreement, payable via a single monthly fee.

Through our unique model you would enter a 48 month rental contract, with the ability to own the vehicle at the end of the contract term. Being a Prepaid Car Customer enables you to become a Star Member with entitlements to drive your fully maintained vehicle with a range of Star Member benefits.

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What is the Prepaid Cars Offer?

Prepaid Cars is about convenience. We offer a simple pre-approval system available on the web, which will identify if you qualify for a Prepaid Car. By completing the web based form you have instant access to a pre-approval amount that is a weekly rental limit which is serviceable.

With the pre-approval amount you are now eligible to select a vehicle. Our dealerships offer a range of cars that can be viewed online. All you need to do is select the car you like, request a test drive and go shopping knowing you have pre-approval in place.

Once the documentation has been signed off and your final application is accepted, your Star Membership will be approved and you will drive away in a fully maintained late model used car under a prepaid rental agreement.

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How do I apply for a “prepaid car”?

Simply visit www.prepaidcars.com.au and complete the online pre-approval. It's simple and only takes a couple of minutes to complete!

Alternatively, if you don't like filling out forms, contact one of our on-site offices on 1300 789 567 where a customer service representative will happily help

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What is Total Cost of Ownership (Fully Maintained Vehicle)?

Total Cost of Ownership is the costs associated with owning a motor car over its life. Most people only think of the finance costs when buying a car and forget that insurance, warranty, servicing, tyres, roadside assistance, registration and other charges actually make up the costs of owning a vehicle. When you take a good look at these costs you will identify that the Prepaid Cars Model is very cost effective. Because Prepaid Cars has the capacity to purchase our services competitively, we are able to pass on these benefits to our customers.

When you drive a Prepaid Car you can be confident that the only payment you need to consider outside the rental is fuel.

In fact if you consider the convenience of paying for the total cost of ownership in a single monthly payment it should be the only way to purchase a car.

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What are Prepaid Cars customers entitled to under their Star Membership?

Under the Star Membership Program you will have access to;

Vehicle Ownership Plan – The customer has built up enough equity in the vehicle to purchase it for a low transfer fee.
Early Termination Protection Plan - Ability to exit the contract ‘pre-term’ without any early termination penalties. This assumes a minimum of 3 consecutive monthly payments and 30 days written notice.
Members Referral Plan – One month free driving credited to your account for every referred customer on contract for over 3 months
Contract Upgrade Plan – Ability to upgrade the car during the contract at ‘no extra cost’ or payout value. Any built up equity will be apportioned to the new contract.

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What are Prepaid Cars customers entitled to under a fully maintained agreement?

Prepaid cars understands that even once you have the finance for a vehicle you still have to budget for the others costs associated with car ownership. In order to alleviate this burden Prepaid Cars has incorporated these costs into your monthly rental payment, so you never have to budget for these expenses again.

Under our fully maintained agreement your monthly rental fee includes;

Late model Car – Typically a $10,000 - $20,000 used car selected by you on a 48 month rental contract
Extended Warranty – Up to $1,000 warranty for; drive train, engine, differential and other mechanical failures, over the term of the contract.
Insurance – Full Comprehensive Insurance over the term of the contract.
Registration – Registration Renewal over the term of the contract
Servicing – Complete Servicing over the term of the contract
Tyres – Tyres Replacement every 40,000 kilometres or every 2 years over the term of the contract.
Road Side Assist – 24/7 roadside assist over the term of the contract

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What is GPS Tracking?

Prepaid Cars installs an mBox (GPS technology) into every vehicle prior to the client delivery. The mBox is an in-vehicle device capable of identifying your vehicle location in real-time and displaying this on Prepaid Cars Vehicle Management System viewable via the web. This solution offers the you the ability to; drive safely and with reduced risk by; track your vehicle; have real-time anti theft capabilities, produce an automated FBT logbook; monitor your vehicle greenhouse gas emissions as well as obtain service management alerts.

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What is Enviro-Friendly Driving?

Reducing your vehicle energy emissions is a great way you can make a positive contribution to cutting greenhouse gas (GHG) emissions. Prepaid Cars wants to help you do this by offering you Enviro-Friendly Driving. By driving a Prepaid Car we will reduce your greenhouse gas footprint by offsetting your vehicle emissions by 100%. By ensuring we keep your car serviced and in good working order as well as having good tyres at the correct pressure you can save up to 3% on your fuel use therefore reducing your emissions.

Prepaid Cars with their partner Climate Positive will then add a further 30% emission reduction which will go towards regenerative natural projects, therefore offsetting your vehicle 130%.

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Who are our customers?

Prepaid Cars specialises in providing finance to the following groups of people.

We enjoy putting a smile on the face of people who are generally turned away from traditional lenders (the banks) for being one of the following

Poor Financials – people that have a solid income and assets but poor record keeping or have not filed tax returns in the last 1-3 years.
First Chance Borrowers - people without a finance history, traditionally younger borrowers or new arrivals; and
Second Chance Borrowers - people who may have experienced past credit difficulties

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What are my chances of approval?

Prepaid Cars has one aim and that is to ensure you have a greater access to quality used cars when traditional lenders (the banks) say “NO” to your application.

Typically our applicants will be viewed on the merits of their application. If you can show you have an income, that you have the capacity to service the rental payments and you are not a flight risk ( you have been living at the one location for over 3-6 months) you will have a good chance of qualifying for our services. Your ability to pay in advance the $849 Star Membership fee and the first month rental, will assure your chances of success are substantially increased.

Prepaid Cars has designed our service especially for the non-conforming segment of the market. A qualified account manager will meet you face to face to ascertain your credit status, determine the security over the loan, your current debt level, your income, and your ability to repay the debt. At this stage Prepaid Cars will determine your total rental limits, which is typically $150 to $250 per week. In general this can be determined by deducting your expenses from your net wage (after tax).

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How long does it take?

Pre-Approval at Prepaid Cars is fast. You could have your car approved in 3 days! Once you've taken some time to view the vehicles on offer and decide upon the car you like, the actual approval can take as little as 30 minutes. This assumes that you are able to provide the necessary paperwork required and can make the upfront payment of your Star Membership fee and the first month rental fee. Once the paper work is complete you only need to go to the dealership to pick up your car.

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Do I need to provide anything with my application?

All applicants must complete the pre-approval application which will assess the weekly rental cap you can currently afford.

Documentation required before finalising your application;

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What paperwork needs completing before I can pick up my car?

All applicants must provide;

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Are there any application costs?

The Prepaid Cars Rental plan is all inclusive so there is no monthly or ongoing account keeping fees.

Business applicants are subject to pay any government taxes, stamp duty, REVS, FID, GST and any other government charges – varies in each state.

On approval, a once only Star Membership fee must be paid which entitles the purchaser to a range of unique benefits, the least of which is the opportunity to participate in Prepaid Cars referral plan. This entitles the member to refer customers and in return get a free month for every referred customer that makes 3 months worth of payments.

There are no fees if Prepaid Cars does not approve your application.

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Can I organise my finance before I buy?

Yes. Prepaid Cars can pre-approve your rental amount based on your income. This increases your confidence to view all the vehicles we have online and shop for that perfect car with the knowledge that you already have preliminary approval. The pre-approval amount is the upper limit you can afford per week, so you can always purchase a car that is less per week than you have been approved. If you are able to deliver the necessary paperwork and upfront payments you could drive your car away inside 5 working days of choosing your car.

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When can I pick up my car?

By using Prepaid Cars, once you've signed the necessary paperwork, you can drive away in your car within 5 working days. This ensures that we deliver the car in the best condition possible with all the necessary services in place to give you 48 months of hassle free driving.

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Can I buy a car privately or does it have to be through a Dealership?

At Prepaid Cars you can only obtain a vehicle through endorsed PPC dealerships. Our dealerships have a range of vehicles you can choose from, but if they you want a specific make, model or colour we will endeavour to find that car for you, but this will add time to you driving away in your car. A complete pre-delivery report and inspection is undertaken by the dealerships prior to pick up.

Our Dealerships ensure that when the car is driven off the lot it is detailed, roadworthy and have a 48 month warranty plan.

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Personal or Business Customers?

Everybody qualifies for a prepaid car, individuals or businesses. We will not exclude any application and will provide our services to any person or business that meets the assessment criteria.

Because our service is delivered as a rental it is likely that a business can claim the rental as a tax deduction. Please consult a professional regarding this issue as Prepaid Cars are not registered tax advisors.

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Is the Prepaid Model Competitive?

Yes. Prepaid Cars has worked carefully with industry partners to ensure that the total cost of ownership of the vehicle, for the time you have it is very competitive and also a convenient payment plan. Because Prepaid Cars has the capacity to purchase our services competitively we are able to pass on these benefits to our customers.

One of the most important aspects of our model is that you may walk away from our contract with nothing to pay (no questions asked) after you have made 3 consecutive payments and give us 30 days written notice.

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Is Insurance included?

Yes. Prepaid Cars has put together a unique Vehicle Protection Plan that includes a suite of insurance products to ensure that the financial risks associated with driving a car are mitigated. These include; comprehensive insurance, warranty and several customised insurance products we have included creating the safest driving experience available.

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Is Servicing and Tyres included?

Yes. Prepaid Cars has developed a national servicing and tyre model that gives our members the convenience of organised servicing and tyre replacement without the hassle of coordinating the supplier and worrying about the costs that always seem to blow out. When you drive a Prepaid Car you are only required to make a single monthly payment and we make sure that the car is in tiptop condition for the term of the contract.

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Failure to Pay; Don’t Pay Don’t Drive?

Prepaid Cars installs an mBox (GPS technology) into every vehicle prior to the client delivery. The mBox is an in-vehicle device capable of identifying your vehicle location in real-time, and is displayed via the Vehicle Management System (VMS) on the web. Not only does the mBox deliver customer benefits (see What is GPS Tracking?) it also enables Prepaid Cars to immobilise the vehicle if you fail to make your monthly payment promptly. This is similar to the prepaid phone model; where if you fail to put credit on your phone you therefore can’t make calls.

The VMS will provide you with a SMS and/or email reminder of your agreed monthly payment due date, prompting you to make the payment, if you ignore this prompt and fail to pay the vehicle will be immobilised and you won’t be able to drive the car. If payment is not made and immobilisation is initiated it is the first step towards the repossession of the vehicle.

The Prepaid Model is simple Don’t Pay Don’t Drive.

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Have more questions?

Contact us now. Our refreshingly enthusiastic staff will be happy to help.

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