Used Car Loans

We can help finance your used car with low rate loans when you buy your car secondhand from the dealership.

  • No ongoing, annual or monthly fees
  • Used cars up to 12 years old
  • Option to add balloon repayment**

What’s so good about our used car loans?

We’re here to help finance your next car, even if it has clocked a few kms over the years.

Whether you’ve been to the dealer and have found an amazing secondhand car or are looking for a better loan deal on your existing car finance, we’re here to help.

Chat to us or use our easy online application process to apply in under 2 minutes, get approved and start saving with a low rate car loan. It’s that easy!

We can assist with a purchase of vehicles anywhere between new cars and vehicles that are up to 12 years of age.

Or, if you have an existing car loan and your balloon repayment is due, you can even refinance your loan to our lower rate used car loan to save on interest repayments.

Get started

Apply online for your Used Car Loan today. Or, chat to one of our friendly lending specialists and they can can do the hard work for you, managing your application quickly and easily over the phone.

Either way, we’re here to help settle your loan quickly so you can get the keys to your next car sooner.

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Talk to a car loan expert

Book a time that suits you to chat with a used car loan specialist and we’ll take care of the paperwork for you.

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Ready to apply?

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

Our Used Car Loan Interest Rates

Car Loan Type

Used < 5 years

Interest rate p.a.**

3.99%

Comparison rate p.a.*

4.53%

Balloons available

Yes

Car Loan Type

Used 6 - 7 years

Interest rate p.a.

5.19%

Comparison rate p.a.

5.74%

Balloons available

No

Car Loan Type

Used 8+ years

Interest rate p.a.

9.19%

Comparison rate p.a.

9.76%

Balloons available

No

Want to see more car loan options? Compare our car loans.

Customer Feedback

Our Google Rating

4.7

| 392 reviews

Jenny B.

November 19, 2021

Julie S.

October 26, 2021

Calculate your car loan repayments

Estimate your monthly car loan repayments with our calculator below.

Use our car loan calculator as a general guide on what your car loan repayments will look like.

This calculator will also tell you how much you may pay in total over the life of your loan. To use this calculator, simply enter your estimated vehicle value, loan term, any initial deposit, and the amount of any balloon payment (a lump sum payment payable at the end of the loan).

Would you like to calculate your repayments?



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Ready to get started?

Top reasons to choose this loan

No ongoing, monthly or annual fees

At loans.com.au we understand you don't want a loan, but instead you want your dream car whether it's brand new or pre-loved. We don't want to charge you any unnecessary fees, rather we want to focus on getting you in your car as soon as possible, which is why we're proud to say we don't charge any ongoing, monthly or annual fees.

Approval within 24 hours~

Our application process is extremely quick and easy to use, mean we can assess your loan quickly. In most cases for our car loan applications, we can have an answer to you in 24 hours, provided all the information was entered correctly and passes our lending requirements.

Competitive used car loan rates

We offer competitive car loan rates for cars of all ages, even up to 12 years old or 15 years at the end of the car loan term. Get in touch with our friendly team of car loan specialists today to learn more about our low rate car finance options.

Borrow from $5,000

You don't have to borrow too much to get the keys to the car of your dreams. At loans.com.au we offer car loans from as little as $5,000 to get you on the road in the right car for you.

Easy online process

It is extremely quick and easy to apply for a loan with us, with the simple application form taking less than 2 minutes! From there, you can manage your application and documents through our easy-to-use app onTrack, and then once approved managed your payments in our Smart Money online services platform. Plus, our team is here to answer any questions you have at any step along the way.

Cars up to 12 years old

We understand not everyone wants to purchase a brand new car. We offer car loans for vehicles aged up to 12 years old at the beginning of the loan term, or 15 years at the end of the loan term. If you've found a car you love at the dealership, chat to our friendly team of car loan specialists to see if we can help finance your car.

At loans.com.au we understand you don’t want a loan, but instead you want your dream car whether it’s brand new or pre-loved. We don’t want to charge you any unnecessary fees, rather we want to focus on getting you in your car as soon as possible, which is why we’re proud to say we don’t charge any ongoing, monthly or annual fees.

Our application process is extremely quick and easy to use, mean we can assess your loan quickly. In most cases for our car loan applications, we can have an answer to you in 24 hours, provided all the information was entered correctly and passes our lending requirements.

We offer competitive car loan rates for cars of all ages, even up to 12 years old or 15 years at the end of the car loan term. Get in touch with our friendly team of car loan specialists today to learn more about our low rate car finance options.

You don’t have to borrow too much to get the keys to the car of your dreams. At loans.com.au we offer car loans from as little as $5,000 to get you on the road in the right car for you.

It is extremely quick and easy to apply for a loan with us, with the simple application form taking less than 2 minutes! From there, you can manage your application and documents through our easy-to-use app onTrack, and then once approved managed your payments in our Smart Money online services platform. Plus, our team is here to answer any questions you have at any step along the way.

We understand not everyone wants to purchase a brand new car. We offer car loans for vehicles aged up to 12 years old at the beginning of the loan term, or 15 years at the end of the loan term. If you’ve found a car you love at the dealership, chat to our friendly team of car loan specialists to see if we can help finance your car.

Our Used Car Application Process

We make borrowing to buy your next car simple. Here’s how to get the keys to your secondhand car at a low rate in just a few easy steps.

Apply online

Use our simple online form to provide a few details such as the purchase price, your contact details and your loan amount, or simply chat to one of our lending specialists on the phone and they can fill it out for you.

Goodbye paperwork

After your application is complete, use our system we call onTrack on your desktop or device to log in and add your documentation such as payslips and bank statements, and track the progress of your application. Our team will then verify your information and contact you if required to help you out.

Get Approved

You will then have an appointment with one of our lending specialists to organise your preliminary approval of your loan, and help you progress through the car loan approval process and get through to settlement as quickly as possible.

Settle and save

When you get approved, you should check onTrack to receive your final approval and loan agreement. You must sign these and return them in to onTrack to progress to settlement. Your loan will settle do you can make payment to the dealer for your dream used car.

Buy your car

All settled! Now you can start saving with your new low rate used car finance, and get the keys to your new dream secondhand car!

Used Car Loan FAQs

You can save time and heartache if you get pre-approval for a loan before negotiating for your used car. Also known as preliminary approval, pre-approval is an offer from us to lend you an agreed amount, subject to certain conditions. Pre-approval remains valid for 60 days. To gain full approval, you'll need to supply more supporting documents and updated information.

You could get pre-approval on your car loan in around 30 minutes, and we can have the loan settled in 2-4 business days, pending all the lending criteria is met.~

A balloon payment is a one-off lump sum that you agree to pay your lender at the end of your car loan’s term.

This one-off final payment will account for a large portion of your car loan, which means your regular monthly repayments will be more affordable.

If you are at the end of your existing loan term and your balloon payment falls due, you could consider getting another car loan to pay back the balloon amount over another loan term. However keep in mind some car loan products will offer a balloon option, while others may not.

Yes! If you are looking for a better deal on your existing car loan, or if you have a balloon payment due soon which you would like to pay back over a new loan term, we can assist you. When you refinance your car loan, you borrow money from a new lender to pay off your current car loan lender. Refinancing your car loan to loans.com.au can help you get a better deal and may end up saving you a significant amount of money over the life of your loan.

In short, the process to get to settlement involves you first applying for a car loan, either online or over the phone. A pre-approval may then be issued to you, after which you upload your supporting documents and provide any additional information. loans.com.au will then assess your car loan application, and if approved, your loan documents will be issued to you. Once your loan documents are returned, your loan will settle, and we pay the funds directly to the dealer so you can collect your car.

We can finance cars up to 12 years old upon loan commencement.

When financing a used car, it's a good idea to set your budget, get pre-approval for your car loan to get an idea on the amount a lender will lend you for your purchase. Then you'll decide on the car you'd like to buy, and apply for your used car loan. With loans.com.au, you can apply online, we'll assess your loan quickly so you can settle and get the keys to your used car sooner!

A used car, or a pre-owned, or secondhand car is one that has been previously owned by someone else.

There are various pros and cons to buying a new or used car, but it ultimately comes down to personal preference and what you’ll be most comfortable driving.

You absolutely can, and we’re here to help you do it. At loans.com.au, we make it simple to obtain a loan for a used car, all the way from application to settlement and beyond. Chat to one of our friendly car loan specialists today and they can help you with your used car loan application.

Why do people choose us?

loans.com.au is an award-winning online lender. We’ve been making it easy for Aussies to save thousands on their home and car loans for the last 10 years.

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Low rates & fast decisions

Our online model means we can offer low used car loans rates. Fewer overheads and efficient processes means we can pass those savings directly to our customers and assess applications quickly, so you can get your next car on the road sooner and for a lower rate.

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Australian based support team

We have an experienced, Australian-based team of experts. At every step of the way, you’ll talk to a real person from our friendly team of car loan specialists who are here for you and genuinely want to help you get the keys to your car or start saving on your car loan.

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Flexible options

No matter what car you’re looking at, it’s likely we can help you. If you’re at the dealership, we can assist with anything from new cars to cars aged 12 years. Plus, our car loans have different fixed terms and balloon repayments may be available.

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Award winning

By keeping our interest rates low and the loan process simple, experts continue to recognise us with awards for our products, innovations and customer service, year after year, since 2011!

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Hassle free

Find out if you qualify for our used car loans in just minutes. The application process is simple, online, plus we’re here to help at each step of the way.

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onTrack advantage

onTrack is our online app which allows you to complete your car loan application on your device from initial contact through to settlement and beyond. In onTrack you can complete your loan application in your own time, as it suits you. But as always, we’re here to help!

SPECIAL OFFER

Want to win $1000 in fuel? Everyone who gets a used car loan with loans.com.au automatically goes in the draw to win!

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At loans.com.au, we help people into their dream homes and cars.

For the last 10 years, thousands of Aussies have trusted our experienced & locally based team with some of their biggest financial decisions - buying a home, a new car or refinancing to save on interest.

Our customers trust us to support them with low home loan and car loan rates, approved quickly through our easy-to-use online app.

loans.com.au is completely safe and financially backed by Firstmac, Australia’s 12th largest lender. Firstmac has been operating successfully for more than 40 years, and has $14 billion in mortgages under management, as Australia’s leading non-bank lender.

We are also actively involved in our local community with our loans.com.au Women, Children & Community Program designed to support Australian charities on their mission to raise awareness for important causes.

Read our story

Guide to buying a car

Most people have questions as they start on the car buying journey, so we have pulled together some articles to help you.

From tips on how the car loan process works, to information on buying a car, you can find it here.

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Related articles

Apart from a house, a car is one of the most expensive things you can buy, so figuring out financing is one of the first steps towards buying a car.

Still have questions?

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Chat online now

Send us a Live Chat with your used car loan questions and we’ll respond straight away.

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Talk to a car lending specialist

Our experienced team of car lending specialists are here to help you. Book an appointment and we can answer any questions you might have.

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