Car Loans

Car loans are offered by independent companies in Australia today. Buying a car is one of the largest purchases that you are ever likely to make, aside from your home. You can get financing direct from the car dealer or even from the bank. Yet the interest rates offered at many car dealers in Australia just aren't as reasonable as those offered by specialist car loans providers. Use the table below to compare car loans, check what rates they offer and if there are any other fees attached to the loan. Take your time before making a choice about the loan as financing a car is a significant step that requires patience and an eye for a good deal! Please make sure that you read the terms and conditions of any car loan thoroughly before you apply.

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

COMPANYTYPE

TYPE

Lender / Broker

APR

APR

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

LOAN AMOUNT

Amount you can borrow

MIN TERM

MIN TERM

Minimum borrowing period

MAX TERM

MAX TERM

Maximum borrowing period

ID REQUIRED

ID REQUIRED

ID required for borrower

TERMS

TERMS

Terms and conditions of loan

SUITABLE

SUITABLE

Applicants the loan is suitable for

RESTRICTIONS

RESTRICTIONS

Restrictions regarding potential borrowers

MORE INFO

Westpac Car Loan
Westpac Car Loan

Lender11.49% - 12.99%Between $4,000 and $100,0001 year7 yearsIdentification

Identification

Your drivers licence number.

Terms

Terms

This loan must only be used for personal purposes that do not contravene any laws in Australia or laws of any applicable overseas jurisdiction

Suitable

Suitable

A new car for personal use.

Restrictions

Restrictions

1. Permanent monthly income, which can be verified
2. Good credit history with no bankruptcies
3. Your Australian drivers licence number (if you have one)
4. Details of your current financial commitments


Westpac Car Loan
With the Westpac New car loan you can borrow up to $100,000 to buy a new car. You can apply online or over the phone and could receive conditional approval for within minutes. This is a low, fixed interest secured loan, be aware however, you will have to pay a $250 establishment fee and also a $7.50 monthly service fee. Please make sure that you read all of their terms and conditions in detail before you apply so that you thoroughly understand your obligations. If you have any questions contact their customer support team. DETAIL INFORMATION >>Services

Services

1. They aim to give you a decision within 24 hours of receiving your application.
2. If your employer is part of our Corporate Connections program, you may be eligible for a discounted rate.


Advantages

Advantages

1. Borrow up to $100,000 with this low, fixed interest secured loan to buy a new or used car
2. You could receive conditional approval within minutes of applying over the phone
3. Reduce your monthly repayments by extending the term of the loan for up to 7 years
4. Choose how much to repay each month, as long as it results in your loan being repaid within 1 to 7 years.
5. Make extra repayments when you have additional funds to reduce the term of your loan faster
6. There is one simple monthly repayment so you know exactly how much you need to pay
7. Multiple repayment options


Disadvantages

Disadvantages

1. $250 establishment fee.
2. $7.50 monthly service fee.
3. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175.

Yes Loans
Yes Loans

Fixed Rate LoanAsk on applicationFrom $700030 days7 yearsIdentification

Identification

Ask on application

Terms

Terms

Ask on application

Suitable

Suitable

Vehicles for private and business use

Restrictions

Restrictions

You must be 18 years of age or more


Yes Loans
Loans for Cars, Boats, Equipment, Homes, Personal and more! Just fill in a simple form and you will get an answer within 24 hours. If you had credit problems before you still get your car financed – and a car finding service comes free of charge! DETAIL INFORMATION >>Services

Services

Online application, car finding sevice


Advantages

Advantages

1.Free car finding service
2.Prompt efficient service
3.Bank beating interest rates


Disadvantages

Disadvantages

Not enough info in website

St.George Car Loan
St.George Car Loan

Lenderfrom 9.99 % p.a$3,000 to $80,0001 year5 yearsIdentification

Identification

ID necessary

Terms

Terms

See Website for terms and conditions

Suitable

Suitable

New and used cars

Restrictions

Restrictions

Ask on application


St.George Car Loan
Apply now for your St. George car loan and start driving in your dream car soon – you will get a response within a minute. You have the choice between fixed or variable rate and there is no initial security required, as it is your new car which will be used as security. This means the money could be available much quicker. DETAIL INFORMATION >>Services

Services

Online calculator and application


Advantages

Advantages

1.Quick response
2.Choice of fixed or variable rate
3.Choose the frequency of your repayment


Disadvantages

Disadvantages

$195 establishment fee

Bank of Melbourne Car Loan
Bank of Melbourne Car Loan

Lender9.99% fixed$3,000 - $80,00Ask on applicationAsk on applicationIdentification

Identification

Your driver's licence number (if any) for each applicant Weekly income (after tax) details for each applicant Details of your assets, savings or investments The repayment amounts and balances owing on any liabilities (including credit cards, store accounts, etc.

Terms

Terms

Ask on application

Suitable

Suitable

New and used cars

Restrictions

Restrictions

Only for permanent Australian residents


Bank of Melbourne Car Loan
Taking out a car Bank of Melbourne car loan means you know exactly what you have to pay back at the time when you apply because the interest rates will remain the same during the life of the loan. Borrow between $3,000 and $80,000 and decide yourself how frequently you would like to make repayments. Get approved before going shopping and apply now! DETAIL INFORMATION >>Services

Services

Online application


Advantages

Advantages

1.Fixed interest rates
2.Flexible repayments
3.Secure online application


Disadvantages

Disadvantages

Not much info on website

If you wish to speak to someone: Contact Us or Enquiry Line: +61 (0) 2 91912624

Compare Car Loans

Different types of car loan

Car loans are available for a variety of types:

You can get car loans as an unsecured or secured personal loans, you can take them out within a business loan or you can find car loans for people with poor credit. Car loans are also available for new and for used cars.

How to find the best car loan

Just select your car loan from our list of top car loan companies. Here you can easily compare the different possibilities, conditions and fees in order to find the car loan which best suits your personal situation.

How to apply

To apply for a car loan is very simple indeed. All you need to do is to fill in an online application form – an offer will usually come very soon.

What to look out for

The first thing you should look at is the interest rate which the loan company offers you. This will depend on how much money is required and on the length of the loan, which usually will be between one and five years. It is also important to see, how often the loan company wants you to make repayments and check what kind of fees they charge.

Who is eligible for a car loan?

Before you apply for any financial product, you must ensure that you are eligible otherwise you will be wasting your time. With a car loan, this will usually relate to your age, credit rating and employment status. You might also sometimes need to be a homeowner, so this is worth bearing in mind. If a car loan you must be over the age of 18 years old.

How to compare car loan providers?

As with all loans, it is paramount that you do your research carefully and ensure that you read the terms and conditions carefully, including the small print. When you have narrowed your options down, based on how much you would like to borrow and for how long, your primary concern should be the cost and what car you are able to purchase with your car loan. Many car loan providers specify that you need to purchase your car from a specific car retailer to ensure the best rates so you must ensure you watch out for this. When comparing car loans, you should always ensure you check out the loans APR (annual percentage rate). This is the interest rate that will determine just how much your borrowing will cost. You are not always guaranteed the advertised rate, this can vary depending on your income and credit rating, so you must ensure you read the terms thoroughly. Always compare each loans APR side by side using a comparison grid so you are aware of the costs.

Car Loans - Latest News News and Charts

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05 December 2013
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As part of Investec's new offering, the bank will offer bespoke personal banking solutions for advisers including residential mortgages and investment property, car loans and premium credit cards.

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30 October 2013
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might be able to drive your dream car much sooner than you think – two great car loans provide customers with tailor-made car finance

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Important considerations for when taking out a car loan

19 August 2013
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It is important that you do your research carefully when applying for a car loan, we have put together some hints and tips to help you on your way.

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Pros and Cons Of Car Loans

18 July 2012 22:00
Phoebe Robinson

Taking out a car loan is a quick easy way of purchasing a nice new car. Saving for a car can take years and this is a quick alternative to saving. Taking a car loan allows you to buy a car today.

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Need Help Financing A Car?

16 March 2012 21:45
Victoria Wedderburn

Whether you want to buy a brand new or second hand car you might need some help paying for it. If you don’t have the cash right away you can take out a car loan.

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