$30,000 Car Loans

Buying a car is likely to be one of the bigger purchases you make, so make your search easier by comparing $30,000 car loans with Mozo.

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$30,000 car loan comparisons on Mozo - last updated 19 August 2022

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  • New Car Loan - Special

    Home Owner Discount, Including Demo, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    5.69% p.a.
    6.24% p.a.based on $30,000
    over 5 years

    Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 5.69% would cost $34,940.17 including fees.

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    Details
  • Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.25% p.a.
    6.87% p.a.based on $30,000
    over 5 years

    Available for all New and Used cars up to 7 years. A quick and easy, 100% online application with loans up to $75,000. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.25% would cost $35,258.67 including fees.

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    Details
  • Clean Green Car Loan

    New or Used, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    5.99% p.a.
    6.54% p.a.based on $30,000
    over 5 years

    No monthly or ongoing fees. Get a 0.70% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,190.67 including fees.

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    Details
  • Used Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    7.99% p.a.
    8.60% p.a.based on $30,000
    over 5 years

    Enjoy a quick application process and no monthly fees on NRMA used car loans. Finance also available motorcycles, caravans and motorhomes. Low fixed interest rates with terms of up to seven years. Plus, NRMA Blue Member benefits apply so you could enjoy even lower rates as an NRMA Member**.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 7.99% would cost $36,987.90 including fees.

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    Details
  • New Car Loan - Special

    Including Demo, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.69% p.a.
    7.24% p.a.based on $30,000
    over 5 years

    Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 6.69% would cost $35,779.48 including fees.

    Compare
    Details
  • Secured Car Loan

    Fixed

    Interest rate
    comparison rate
    Monthly repayment
    7.09% p.a.to 14.99% p.a.
    7.93% p.a.to 13.88% p.a.based on $30,000
    over 5 years

    Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. Borrow between $5,000 and $79,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 7.09% would cost $36,323.64 including fees.

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    Details
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    4.74% p.a.
    5.29% p.a.based on $30,000
    over 5 years

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Extra low rate for qualifying homeowners. Personalised loan amounts between $5,000 and $100,000. Flexible repayment options. Choose between the 3 to 5 year loan terms.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 4.74% would cost $34,154.23 including fees.

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    Details
  • Used Car Loan

    Home Owner Discount, Dealer Only, Up to 5 years old, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.
    7.04% p.a.based on $30,000
    over 5 years

    Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $35,610.64 including fees.

    Compare
    Details
  • Clean Green Car Loan

    Home Owner Discount, New or Used, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    4.99% p.a.
    5.54% p.a.based on $30,000
    over 5 years

    No monthly or ongoing fees. Get a 0.70% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^.

    Repayment terms from 3 years to 5 years. Representative example: a 5 year $30,000 loan at 4.99% would cost $34,359.97 including fees.

    Compare
    Details
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^See information about the Mozo Experts Choice Car loans Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Car loan lenders we compare at Mozo

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Car loan resources

Reviews, news, tips and guides to help find the best car loan for you.

How to find the best car loan

The best car loan for your needs will depend on a range of factors, such as the age of your car, what sort of flexible loan features you're after and the amount you want to borrow.

Just like personal loans, there's a huge range of car loans out there vying for your attention from a range of bank and non bank lenders. One sure way to find out whether the best car loan for you would be a low rate loan that does the job for less, or a jam-packed one with plenty of features... is to read this guide!

Choosing between a fixed or variable rate

If you've done a little car loan comparing already, you may have seen the terms "fixed rate" and "variable rate" scattered about. Don't just pick one at random though, as your choice can majorly influence how many dollars you end up paying back in interest or fees. Ultimately, the rate type you opt for should depend on how you intend to use your car loan.

Fixed rates

Let's look at fixed rate car loans first, where the interest rate is guaranteed to stay that way for the entire loan term. So long as you follow your loan repayment plan, you will know exactly how much money will go to your provider in interest. On the downside, most fixed rate loan providers charge a fee when the total loan amount is repaid early, and many have limits on how much extra you can repay. This is why, when choosing a fixed rate loan, it's important to select a term that aligns with how many years you want to spend paying off your loan.

Variable rates

Unlike the stability that comes with fixed rate car loans, the interest rate with variable rate loans can change over the course of your loan term in or against your favour. Don't let that put you off, as they will rarely involve early loan repayment fees. So if your budget can handle a slight rate change, plus you want the opportunity to clear your debt whenever it suits, a variable rate car loan could right for you.


Features of a top car loan

Many car loans come with convenient features to make your life easier while paying them off, such as optional additional loan repayments and redraw facilities. Below is a run through of these aspects and more that you'll find in a top car loan.

  • Low interest rate

We could go on and on about why the interest rate is important when you take out a car loan, but instead we'll run you through the following scenario...

Sarah has just secured her full licence after learning how to drive in her parent's car. Now she has a stable income, Sarah's ready to take out a car loan and buy one of her own. But which one should she choose?

Using Mozo's car loan comparison table, Sarah compares loans from a range of bank and non bank lenders against a car loan from her current banking provider. She soon narrows down her choices to a competitively priced loan from a new lender vs sticking with her current bank. Both have the features she's looking for in a car loan, like the flexibility to choose how frequently she can make repayments.

Say Sarah picks old favourite with a 12.74% interest rate on offer. She'll hand over $15,488 in interest for her $30k car loan over a 7 year loan term (on a monthly loan repayment plan). On the other hand, ditching bank loyalty and going for one of the lowest rates at the time of writing of 5.14%, means she'll fork out $9,705 less. It just goes to show you how much that one number can affect your hip pocket!

  • Little or no fees

Individually, monthly fees and signup costs may appear small, but they really do add up. One easy way to factor in all the costs involved with a potential car loan product, is to look at the comparison rate. This rate type is made up of overheads like the headline rate, application and ongoing fees.

Just remember, that even if you settle on a car loan with low fees, most providers will bill you more for making a late repayment.

  • Minimal early loan repayment penalty

Whether or not a car loan needs to have a minimal or no early loan repayment penalty will depend on who you ask and the interest rate you choose. Some people like sticking to the original loan repayment schedule as it suits their financial situation best, while others prefer keeping their early loan repayment options open.

  • Convenient extra repayments and redraw facility

If making extra repayments suits your style and you use the feature efficiently, you'll end up paying less in interest, as the rate is only applied to how much you owe.

Another top car loan feature is none other than having a nifty redraw facility to dip into extra repayments. You can use a redraw facility to pay for things when other life expenses crop up, then make extra loan repayments when you have cash to spare.

Keep in mind that some providers set redraw minimums and have redraw fees, which may cost more than what the flexibility is worth to you. Also we should mention that generally speaking redraw facilities only come with variable rate loans.

Written by: Kelly Emmerton, Mozo Money Editor

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JP Pelosi
Managing editor

Jean-Paul (JP) Pelosi is an experienced journalist and editor who has contributed to many of Australia's leading media outlets including The Guardian, News.com.au, Domain.com.au, Investment Magazine and ANZ's Bluenotes. He has also edited news and communications for large financial services companies such as CommBank, Suncorp, Allianz and Amex. He loves a well told story and applying his editorial experience to content that readers both care about and enjoy. JP heads up our writing team.

$30,000 car loan comparisons made easy 

Whether it’s a new family car or your dream set of wheels, securing a $30,000 car loan could go a long way towards helping you get behind the wheel faster. But with so many different car loan offers around, how can you work out which loan will be the best fit for your own situation?

Mozo’s handy car loan comparison table above provides an easy way to compare a bunch of offers in the one place, but if you’re after some more information to get to grips with all the ins and outs of a car loan, check out our car loan price guide or keep reading below.            

Car loan interest rates explained 

The interest rate you get on your car loan will determine how much interest you end up paying over the life of the loan. So if you’re shopping around for a $30,000 car loan, not only does it make sense to compare a range of offers to ensure you’re getting a great rate to save you money, it also makes sense to weigh up the kind of car loan rate you want to pay. 

There are two types of car loans - those with fixed rates and those with variable rates, so here’s what you’ll want to know about the two. 

Fixed rate car loans 

Like home loans and personal loans, you’ll be able to choose a car loan with a fixed rate. That means that your rate will be ‘fixed’ for the life of the loan, meaning you’ll make the same repayments each month or fortnight. 

This obviously gives borrowers the advantage of knowing exactly how much they’ll need to budget for over the loan period, plus it means you’ll safe from any rate fluctuations over that period. 

On the down side, some lenders charge extra fees for borrowers wanting to pay off their fixed rate loan early. 

Variable rate car loans 

On the other hand, variable rate car loans can change over time at the whim of the lender. Generally these changes take place in line with movements in the official interest rate, but that’s not always the case. Of course, there’s also the possibility that a variable rate may not actually move at all over the course of the loan. 

The major benefit of a variable rate car loan is that your rate, and thus the interest you’re required to pay, could drop over time if your lender decides to reduce their rates. Unfortunately the opposite can happen too, meaning your rate (and your repayments) go up. 

The other benefit is that you generally won’t be charged a fee for paying off a variable rate car loan early, which may be a feature worth considering. 

The essential car loan fees and features          

Aside from the interest rate, there are a number of other important car loan fees and features you’ll want to consider before locking in a deal. 

Fees

Car loan fees are the other potential cost, other than interest, that you’ll need to compare when choosing a car loan. These will vary in size and type by lender, but some of the more common fees you might need to shell out for include: 

  • Application Fee: Also known as a Set Up fee, the application fee is a one-off cost you pay at the start of the loan. Some lenders don’t charge a fee at all, but you could typically expect an application fee to range anywhere from $100 to $500.
  • Ongoing Fee: Also known as a Service or Monthly Fee, some lenders charge ongoing fees to manage your car loan account. These are generally charged on a monthly basis and tend to range from $5 to $10.
  • Break Cost Fee: Generally applied to fixed rate car loans, the break cost fee is a penalty some lenders charge if you pay off your loan early.
  • Discharge Fee: Discharge fees are charged by some lenders at the end of the loan period in order to cover the costs of closing your loan account.
  • Late Payment Fee: Miss a repayment? Many lenders will charge you a late payment fee if you fail to get it in on time. 

Features

Rates and fees - they’re the two most important elements to consider when taking out a car loan right? Hold on a minute, because you’ll also want to weigh up any features as well. Some common car loan features include:

  • Extra Repayments: Like the idea of being able to pay off your car loan ahead of schedule? Find a loan that offers free extra repayments.
  • Redraw Facility: Made extra repayments but suddenly find that they could be better used paying for a medical bill or paying off debt with a higher interest rate? A car loan that features a redraw facility (especially a free one) could be the answer.       
  • Loan Term: This is the amount of years you elect to pay your car loan off over. Generally the minimum term is one year but the maximum could range anywhere between five and ten years. 
  • Repayment Frequency: Depending on your lender you may be offered the flexibility of making repayments on a weekly, fortnightly or monthly basis. 

The difference between secured and unsecured car loans 

If you’ve been checking out some of the $30,000 car loan offers in the table above you might be wondering whether a secured or unsecured car loan is the better option for your situation. Ultimately there’s no ‘better option’ though, as that will depend on what you’re looking for in a loan. 

As the name suggests, borrowers taking out a secured car loan will be required to provide an asset to be ‘secured’ against the loan - generally the car itself. This means that the lender will be able to repossess the car, or the asset you’ve put up, if you fail to make your repayments. The benefit of taking out a secured car loan is that you’ll generally receive a lower interest rate and fees.       

Your other option is to take out an unsecured car loan. In this case you won’t be required to provide an asset to secure it, but you’ll generally be charged a higher interest rate and higher fees for the privilege of getting an unsecured loan

Different car loan lenders

You’ll be able to compare $30,000 car loans from a heap of different lenders including banks big and small, credit unions, online lenders and peer to peer lenders. In fact, Mozo compares 180 car loans from more than 70 providers. 

Which car loan provider is going to be the right option for you though? That’s a decision you’ll have to make yourself because people choose different lenders for a number of reasons including: 

  • Cost: For many Australians, the cost of their car loan will be the ultimate deciding factor. And while rates and fees vary between different lenders, online lenders and smaller banks and credit unions often offer more competitive rates.
  • Familiarity: For many Australians, taking out a car loan with a familiar name, a lender they trust or with their existing bank is the main consideration they take into account.  
  • Convenience: Like the idea of the entire car loan process being online? An online or peer-to-peer lender could provide a simple online application and approval process.  

$30,000 car loan FAQ’s 

Still got some burning car loans questions that you need answered? Keep reading below as we answer some of the most frequently asked questions about car loans. 

Can I afford a $30,000 car loan?   

Before you take the plunge, you’ll certainly want to be certain that you’re comfortable paying off a $30,000 car loan - after all, it’s a lot of money. 

So, just how much will you need to pay to finance a $30,000 car loan? That depends on a number of factors including the rate you’re able to secure on the loan, as well as any fees you’re charged and whether or not you’re on a variable or fixed rate loan because, as we said previously, your variable rate could change over time.  

Here’s an example featuring prospective car buyers Emma and Lewis. The couple have decided on a $30,000 secured car loan with a fixed interest rate of 6.25% and they’ll be paying it off over a five year term. According to the Mozo Car Loan Repayments Calculator, Emma and Lewis will need to make regular repayments of $269 per fortnight or $583 each month over those five years to pay off the loan.          

Can I get a car loan if I have bad credit?

Determined to find a $30,000 car loan but worried that your bad credit might hamper your chances? While there’s no guarantee that a lender will approve your application if you have bad credit history, there are certainly some steps you can take to improve your credit score and chances in the future including paying off your existing debt, making repayments on time providing proof of stable employment. 

Can I get a car loan for a used car? 

Yes! Car loans aren’t only for purchasing new cars, they can also be used to pay for used cars. In fact, you’ll be able to compare variable and fixed rate used car loans from a range of different lenders including banks, credit unions and online lenders using Mozo’s Used Car Loans Comparison Table.      

How do I apply for a car loan online? 

Looked at the offers in our handy car loan comparison table above and found a $30,000 car loan you like the look of? Once you’ve hit the ‘Go to site button’ you’ll need to answer a few questions and provide some documents as part of the car loan application process. 

Some of the common information and questions lenders will ask include: 

  • The email, name and date of birth of any applicants
  • The amount you want to borrow, the period of time you want to borrow it over and your desired repayment frequency (weekly, fortnightly, monthly).
  • Whether it’s a new or used car
  • Whether the car will be used for personal or business purposes 

It’s also a good idea to get your documents ready before you start an application, including identification (such as a passport or medicare card), your driver's licence and proof of your employment and income.

Car Loan Reviews

Toyota Finance Car Loan
Overall 7/10
Easy to apply car loan finance

The convenience of buying a new car and a finance product together is a time saver. You can negotiate an interest rate and the loan is very flexible for life's ups and downs.

Read full review

The convenience of buying a new car and a finance product together is a time saver. You can negotiate an interest rate and the loan is very flexible for life's ups and downs.

Price
7/10
Features
6/10
Customer service
8/10
Convenience
10/10
Trust
8/10
Less
Lauren, Victoria, reviewed 8 days ago
Auswide Bank Car Loan (Fixed)
Overall 9/10
Great with communication.

There is no branch where I live but it is super easy to contact them and they are really great with communication.

Read full review

There is no branch where I live but it is super easy to contact them and they are really great with communication.

Price
9/10
Features
7/10
Customer service
10/10
Convenience
6/10
Trust
9/10
Less
Kimberley, Queensland, reviewed about 1 month ago
RACV Personal Loan (Fixed)
Overall 1/10
Terrible

Terrible customer service. Terrible interest rate.

Read full review

Terrible customer service. Terrible interest rate.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Jayden, Queensland, reviewed 2 months ago

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