Online lender introduces market-leading variable car loan rate

loans.com.au has just released a market-leading variable car loan rate of 2.99% p.a. (3.53% p.a. comp rate), available for people who own their own home buying a new car.

loans.com.au Managing Director Marie Mortimer said she was excited about what this huge discount could mean for Australians looking to buy their next car.

“We’re offering the lowest car loan rates on the market, and we're very excited to give a further discounted rate to homeowners.” Ms. Mortimer said.

“Buying a car has been difficult for some in the past few years given supply issues and some lenders tightening restrictions. We want to help make it easier for borrowers to buy a car and get their keys as soon as possible, and our new 2.99% variable rate does just that.”

“We want buyers to know they can secure car finance under 3%,” Ms. Mortimer said.

“We’re offering the lowest car loan rates on the market”

Customers can also make extra repayments on this loan, and redraw from it with no fee. Unlike many other lenders and banks, loans.com.au also charges no ongoing, monthly or annual fees.

Additional car loan discounts will also be extended to those purchasing other vehicles, such as electric vehicles for 2.89% p.a. (3.43% p.a. comp rate).

These new discounted variable car loan rates come shortly after loans.com.au launched their car buying service, OnlineAuto.com.au to address a common pain-point of buying a car in the current market.

OnlineAuto.com.au is a car buying service which helps customers purchase a new vehicle from a dealership. The team will identify which vehicles are in stock and negotiate pricing on a customer’s behalf, and arrange a delivery, all at no additional cost to the customer.