Every day Mozo’s team of data experts track the interest rates of banks and lenders of car loans and put them on our website for you to compare. Our database comprises car loans from a range of lenders including big banks, mutual banks and peer-to-peer lenders.
Simply plug a few details like your desired loan term into our comparison tool and we’ll give you a listing of loans, along with an estimated monthly repayment amount which can help you to determine whether you can afford the repayments.
Mozo doesn’t offer its own car loans, but we can connect you direct with lenders that do offer car loans. Most of the lenders that we have listed on our website have online applications so you’ll be able to apply within minutes of leaving our site.
On a tight budget but need to drive to and from work regularly? A $5,000 car loan may be just what you’re after. This loan is a good pick for those looking for a ‘bare minimum’ car - no fancy additions or sparkly exteriors, but it’ll do just fine getting you from one place to another! So if you’re looking to minimise your expenses or you’re saving up for other expensive purchases down the track, then a $5,000 loan may be a good fit.
And if a new car depreciates the second you put pen to paper, it might make more sense to you to buy a cheaper or second-hand model. You may be kissing the enticing ‘new car’ smell goodbye, but you can sleep well knowing you’re saving big bucks in the long run.
The kinds of features a $5,000 car loan offers would vary from provider to provider, so it really depends on your needs. For example, if you’re looking to pay the loan off as quickly as possible and minimise your interest bills, a car loan with the option to make free extra repayments would suit you well. Other features to look out for include early repayment penalties and whether there are any fees attached.
Finding a low rate $5,000 car loan can mean saving hundreds of dollars in interest over the life of your loan - that’s a whole lot of money going straight into your pocket to cover other expenses like car insurance. So how can you compare interest rates to find the best deal for you? It’s easy, and one great way to get started is right here on Mozo! Look at our comparison table below to get started.
Including Demo, Fixed, Secured
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.
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^.
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.74% would cost $33,949.23 including fees.
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 $63,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 4.45% would cost $33,516.53 including fees.
Pay zero fees on loans up to $100,000 with NOW Finance. With no establishment fee, ongoing fees or early payout fee. What’s more, get your personalised interest rate in two minutes with no impact on your credit score!
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,276.58 including fees.
Enjoy competitively low rate car loans from 4.89% (comparison rate 5.44% p.a.) between $10,000 and $100,000 for new, demo and used vehicles. Take advantage of flexible 3, 5 or 7 year loan terms. No early repayment or exit fees. You must be 21 years or over to qualify and earn above $35,000.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.35% would cost $34,507.61 including fees.
A quick and easy, 100% online application. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.
Terms from 2 to 3 years. Representative example: a 3 year $10,000 loan at 6.39% would cost $11,510.63 including fees.
Be rewarded for your good credit history with low rates. Plus there are no ongoing fees and you can pay off your loan with no early repayment penalties. Simply apply online and get a quote in minutes.
New, Fixed, Secured
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 3.97% would cost $33,525.38 including fees.
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^.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.79% would cost $35,729.09 including fees.
Reach your goal sooner without being penalised with $0 early payout fee. $0 monthly fees. Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget. Winners of Australia's Best Large Credit Union in 2020.
Up to 5 years old, Fixed, Secured
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,290.67 including fees.
Purchase or refinance a new or used vehicle, up to five years old. Choose a loan term from one to seven years. To be eligible you must be over 18, receiving a regular income and an Australian resident.
^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.
How much could you save by switching your car loan? Compare savings from over 500 car loans. Find out in a few clicks.