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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.
Protect your credit score and get personalised help from an expert. Fido Finance does the comparing for you to help find top rate and repayment loan options from a range of trusted lenders. They receive high average review ratings by their customers. Getting in touch costs you nothing and commits you to nothing.
Fixed, Secured, No vehicle age limit, $5,000-$100,000
Get a competitive fixed interest rate on a secured used car loan of up to $100,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
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Variable, Secured
Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.
Read reviews and learn more about loans.com.au car loans
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Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away. Eligibility criteria applies.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.56% would cost $35,768.68 including fees.
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Up to 5 years old, Variable, Secured
Used Car Loan with no monthly or ongoing fees, with a fixed rate for the life of the loan. Fast online application. Good credit history. Stable employment history and Australian citizenship or PR required.
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 7.39% would cost $36,854.29 including fees.
Read reviews and learn more about loans.com.au car loans
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Fixed, Secured, $5,000-$100,000
Get a competitive fixed interest rate on a secured new car loan of up to $100,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for 1 month. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
Read reviews and learn more about OurMoneyMarket car loans
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Fixed, Secured
Get a fixed rate car loan for amounts over $20,000 with Police Credit Union. Make additional repayments at any time without penalty. Free online redraw. Available for new and used cars. Can also be used for motorcycles, boats, caravans, trailers or any registrable vehicle.
Repayment terms from 1 year to 5 years. Representative example: a 5 year $30,000 loan at 6.48% would cost $35,497.21 including fees.
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Mozo has partnered with one of Australia’s leading car finance brokers, Fido Finance, to help you find a car loan match.
Sound good? To get started, simply provide a few details on what you’re looking for and Fido Finance can help you lock in a great car loan rate.
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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!
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.
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.
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.
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.
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!
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.
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.
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
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.
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.
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:
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:
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.
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:
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.
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.
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.
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.
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:
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.
Poor service misleading advice, do not waste your time
Read full reviewPoor service misleading advice, do not waste your time
The staff at RACQ bank are extremely accommodating. Products and Services are hassle free and communication is prompt and helpful. I am coming to the end of my 5 year loan term and would definitely use their services in future.
Read full reviewThe staff at RACQ bank are extremely accommodating. Products and Services are hassle free and communication is prompt and helpful. I am coming to the end of my 5 year loan term and would definitely use their services in future.
One of the worst finance provider. They offered me 24% interest rate for a car loan, while RACV offered 10%. Clearly they are just here to rob people
Read full reviewOne of the worst finance provider. They offered me 24% interest rate for a car loan, while RACV offered 10%. Clearly they are just here to rob people
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