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Our car loans

Car Loan Interest Rate Comparison Rate Weekly Repayment Product Features Details

Green / Electric Car Loan

6.09 %   p.a. 7.21 %   p.a. $165
  • Discounted rate on qualifying electric cars
  • Redraw up to $5,000 per day
  • Up to 7 years loan term
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New / Demo - Special

6.24 %   p.a. 7.36 %   p.a. $166
  • Demo vehicles acceptable up to 5000kms
  • Redraw up to $5,000 per day
  • Up to 7 years loan term
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#Based on the dollar value in the search field with P&I repayments based on a 7-year loan term, not including monthly fee and balloon payment.
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Our car loan products are recognised & awarded by the Australian financial industry. View all awards

Common car loan questions

Dealership finance is a loan offered by car dealerships with the enticement of being able to drive away in your new car sooner. Car loan rates from the dealership can often be higher than if you’d arranged your finance with a lender beforehand, and online lenders like loans.com.au can often offer lower rates than traditional lenders. Dealership finance almost always requires a balloon payment at the end of the finance period. Financing is also often restricted to new vehicles, whereas car loan lenders approve new and used cars.

You can get preapproved for a car loan before finding a car, which may make your car buying process easier because you’ll know what you can afford.

A secured loan is usually cheaper and safer, because the lender can repossess the car if the repayments are not met. Unsecured loans have higher interest rates and are the riskier option, because if you default on the loan you’re still responsible for the debt.

Before applying for a car loan, you’ll need to think about what you can afford in terms of loan repayments, services and repairs (which may vary between brands), and also consider the loan term, which will be between 1-7 years.

Buying a car from a dealership means you buy a new or used car from a licensed car selling company, which generally comes with some sort of guarantee and/or warranty. Purchasing directly from a private seller means you purchase a used car directly from the owner, often at a cheaper price, but without the option for a warranty or guarantee.

How do you compare car loans?

There are a few key factors to analyse when comparing car loans. First you want to ensure you choose the right type of loan.

Your car loan may only run for a few years but that doesn’t mean you should miss the chance to put some more money in your pocket over that period.

Types of car loans

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Used Car Loans

We’re here to help finance your next car, even if it has clocked a few kilometres over the years. If you’re looking to purchase a used car, we can assist with the purchase of vehicles that are up to 12 years of age at the beginning of the loan term.

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New Car Loans

Are you looking to buy a new vehicle? We can assist with car loans for dealer new and used cars up to 5 years old for a low rate.

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Secured vs Unsecured

When choosing a car loan, you also have the option to choose a secured or unsecured loan. A secured loan is usually cheaper and safer, because the lender can repossess the car if the repayments are not met. Unsecured loans have higher interest rates and are the riskier option, because if you default on the loan you’re still responsible for the debt.

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Green Car Loans

We care about the environment and encourage you to care too. That’s why we offer a discount on our car loans if you choose to buy a more environmentally friendly car like a qualifying electric vehicle.

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Why choose loans.com.au?

Low interest rates

Being an online lender with fewer overheads means we’re able to pass on the savings to our customers.

Australian based

Get help when you need it from our friendly team of Australian based, lending specialists.

Flexible options

Whether you’re looking to buy new or used at a dealership, or purchase a used car privately, we are sure we have a car loan that can assist you.

Award winning

We keep on winning awards for our products, innovations and customer service, year after year!

How do car loans work?

A car loan is a sum of money lent to an individual or couple to use as finance to purchase a car. The amount borrowed depends on a few factors, including income, credit history and personal savings. The lender and borrower will agree on a term, in which the loan will need to be paid back weekly, fortnightly or monthly, including accrued interest.

1. Fixed vs variable rate

Fixed rate loans means the interest rate remains the same over the fixed rate term of the loan. During this period, your repayments will be the same until it changes to a variable rate.

A variable rate loan is a loan with an interest rate that can change at any time at the lenders discretion, which means your repayments can vary throughout the life of your loan.

2. Interest rates

Interest rates are always charged on a loan and impact your repayments and the overall amount you pay back on your car loan. Your monthly interest is calculated using the formula:
Interest = (loan amount x interest rate) / 12 (months)

3. Deposit

In Australia, borrowers don’t always need a deposit when applying for a car loan. However, there are many benefits that make it worthwhile to save for a deposit if you have the option. Some benefits include less interest paid throughout the term potentially saving you hundreds, and increasing the chance of being approved for a loan.

4. Repayments

When you repay your car loan, you can choose to repay it weekly, fortnightly or monthly. Monthly is the most common repayment frequency, however it’s recommended you choose the frequency most suitable for your financial situation. The repayment amount is dependant on your interest rate. If you opted for a fixed rate loan, your repayments will be the same during the fixed rate term of your loan, whereas variable rate loan repayments will vary based on the current rate set by your lender.

Need help with your car loan?

Choosing a car loan is a big decision, and it can be overwhelming trying to find a suitable car loan and understand the finance lingo. We have a variety of free resources and guides available to help car buyers at any stage of the car buying journey. From learning about interest rates to unsecured loans, we’ve got you covered.

Applying for your first car loan? Follow a few simple steps to help your chances of getting approved.

Car finance vs paying in cash, it’s a question many ask when looking at buying a new car. We weigh up the pros and cons of each.

Find out what it means to sell a car that is still under finance in Australia.

Looking for a new Car?

Source your new Car through OnlineAuto, finance it with loans.com.au and get rewarded!

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Join our other loans.com.au customers

Best experience

We had the best experience getting a loan with the loans.com.au. Everyone we spoke to was friendly and transparent with communications. We really appreciated all the effort the loans.com.au team put into turning around our finance approval <3

Stamatia B.
04 Jul 2024

Outstanding customer service!

I had an excellent experience with loans.com.au while securing my car loan. Rena and Crystal provided exceptional service throughout the entire process. They were knowledgeable, efficient, and always available to answer my questions.

Rohit P.
17 Jun 2024

Unbelievable result

Unbelievable result achieved by amazing team of professionals! I’m really grateful to loans.com.au for saving my property deal and will recommend everyone to use their services. Thank you!

Alexander S.
15 Jun 2024

Best company for organizing loans

If you ask me who is the best company for organizing loans, I will tell you: it is loans.com.au. I had an excellent experience with them. Sonia, who helped us to get the loan in just 3 days exceeded my expectations. It was done very professionally, without any stress. I would definitely recommend loans.com.au to borrow money from.

Svetlana S.
14 Jun 2024

kind and so helpful

Loans.com.au made it so easy to get my car loan. I was quite overwhelmed when I first started looking in to a loan but once I spoke to Garth, he explained everything so clearly and answered all of my questions without any hesitation. He was so kind and so helpful, and so was everybody else I spoke to within the team.

Jasmin R.
01 Jun 2024

Very helpful with clear communication and quick responses

Ray and Jordan at Loans.com.au have helped us to acquire the mortgage in a short time. They are very helpful with clear communication and quick responses. Definitely recommend anyone give them a go!

Vincent L.
08 May 2024

Exceptional service!

Exceptional service! Grateful to Ray for guiding us through the home loan process for our first home. His expertise, responsiveness, and personalised approach made everything smooth. Highly recommend. Thank you Ray and team.

Mary H.
18 Mar 2024

Very easy process

Very easy process with a friendly lending manager to guide you through.

Helen D.
25 Feb 2024

A big thanks to loans.com.au

My experience in getting a loan from Loans.com.au has been great. I think I was also fortunate in getting a highly experienced loan officer Ray Glowacki who was able to evaluate the circumstance and offer me the most suitable product.

FRANK D.
31 Jan 2024

Extremely helpful

Ray has been extremely helpful in setting up my refinance, he made the process so easy and was happy to take the time to answer all my questions. Thanks Ray!

Tamara W.
17 Jan 2024

Helpful!

Ray was an absolute pleasure to work with. His knowledge and years of experience meant he was able to assess our complex situation to find the best outcome for us. Ray thank you so much for your help and support every step of the way!

Samantha S.
16 Dec 2023

Professional and less stressful application

A big thanks to Ray and his team for making this process seamless. Professional advice and communication throughout the process. Professional and less stressful application than with any other we have been involved in before.

Gareth W.
12 Dec 2023

Get started

Apply online today. Or, one of our friendly lending specialists can do the hard work for you and manage your paperwork over the phone.

Either way, we can settle your loan quickly so you can start saving thousands sooner.

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Book a time that suits you to chat with a car lending specialist.

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Call us on 13 10 90 or simply start your application online.

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