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

Aussie
Aussie

Lender13.49%From $3,0001 year7 yearsIdentification

Identification

Details of your income, savings, employer assets and expenses.

Terms

Terms

You must be over the age of 18 years old and in paid employment.

Suitable

Suitable

Get yourself a new or used car, caravan, trailer, scooter, motorcycle or boat

Restrictions

Restrictions

1. You must be over the age of 18 years old.
2. You must be a permanent Australian resident.
3. You must be in paid employment.
4. You must be free of any defaults on loans or credit cards in the last 5 years.
5. You cannot have been bankrupt in the last 7 years.


Aussie
An Aussie car loan can be used to buy cars, scooters, boats, motorcycles, caravans or any vehicle you want. Applying online only takes 20 minutes and you could have your loan approved by the next working day. With an Aussie loan you can borrow any amount from $3,000 as long as you have the capacity to pay for it. 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. You can make repayments monthly, fortnightly or weekly by Direct Debit.
2. While the loan is fixed, you can pay lump sums into your loan to reduce your loan term


Advantages

Advantages

1. Fixed interest rates.
2. You can make repayments monthly, fortnightly or weekly by Direct Debit.
3. You can borrow up to any amount you want as long as you have the capacity to pay for it
4. While the loan is fixed, you can pay lump sums into your loan to reduce your loan term


Disadvantages

Disadvantages

1. You’ll pay an establishment fee of $199 only once, when you first get the car loan.
2. There’s a monthly admin fee of $10 which you’ll pay for the term of the loan.
3. There’s also an early repayment fee, but you’ll only need to pay this if you pay-out your car loan early. The amount will depend on when you pay out your car loan.

Westpac
Westpac

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
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.

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

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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.

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Pros and Cons Of Car Loans

18 July 2012 22:00
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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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