Car loan fees & features

Cheap car loans are all about low fees and the features you need. Your new car will come with more extras than you can poke an (optional) gear stick at, and your car loan isn't too far off.

Car financing features

Car interest rates. You'll notice a big difference here - but check the fine print before signing on to a swell headline interest rate. Car loan interest rates are the easiest way to advertise a tricksy dud deal.

Term of the loan. Typically between one, five or seven years.

Insurance. Auto loans can include compulsory insurance to cover missed payments, adding to the overall cost of the loan to you. It covers both you and your lender in the event of financial hardship, such as unemployment, illness or injury requiring time off work. Also death. Happy stuff, huh?

Casual and self-employed workers may have to take out insurance, along with people who have a bad credit rating.

Car payments. You're looking at weekly, fortnightly or monthly repayments - but look closely, because weekly payments provide a smoother borrrowing ride.

Car loan calculator ahead! See how different repayment options affect the total cost of vehicle finance.

Extra repayments
Car credit usually comes with extra repayment options - but make sure. Because when you find some money on the street, you'll want the option to pay down that total car loan cost, won't you.

Redraw facility
Car financing often comes with a redraw option, which means you can pull out some of the loan you've paid off, when you've lost some money on the street.