2019 Mozo Experts Choice Awards reveal some of the market leading car loans

By Ceyda Erem · · 3 min read
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So you’ve found the perfect car but it’s a little out of your price range, it’s a familiar story most Aussies encounter at least once in their lives. 

But rather than walking away from their dream set of wheels, savvy Aussies are opting to instead take out a car loan to seal the deal. 

Although let’s face it, shopping around on car loans is a little less exciting than heading down to the car dealership - that’s where our 2019 Mozo Experts Choice Personal and Car Loan Awards really shine. 

The Mozo Experts Choice Awards were created to highlight the products and providers in the market our expert judges believe are worth their salt. For our 2019 Mozo Experts Choice Car Loan Awards, our judges analysed 286 personal loan products from 78 Australian financial institutions before awarding the top performers in each category. 

The expert judges performed three calculations based on the assumed loan of $30,000 over five years. Products were then ranked from the lowest to the highest cost based on this calculation. 

RELATED: How going green with your car loan could help you save big bucks

Some of this year’s notable winners included:

- IMB Bank who were awarded a 2019 Mozo Experts Choice Award in the Car Loan category 

- Suncorp receiving two 2019 Mozo Experts Choice Awards in the Used and regular Car Loan category 

- loans.com.au who also picked up two 2019 Mozo Experts Choice Awards in the Car Loan and Green Car Loan category 

- Credit Union SA who were awarded a 2019 Mozo Experts Choice Award in the Car Loan category 

- MOVE Bank who were also crowned 2019 Mozo Experts Choice Personal Loan Provider of the Year 

“When you look at this year’s winners list, there are a lot of previous winners in the mix, like loans.com.au, MOVE Bank and Suncorp,” said Mozo expert judge, Peter Marshall. 

“Repeat winners like these are always great to see, because it means that these products still deliver amazing value to borrowers.” 

So if you’d like to find out who else made it onto this years winners list, head on over to our 2019 Mozo Experts Choice Car Loan Awards winners list page. 

And if you’d like more information about our Mozo Experts Choice Awards, check out our methodology report.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Compare car loans

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Last updated 24 December 2024 Important disclosures and comparison rate warning*
  • Used Car Loan

    Fixed, Secured, No vehicle age limit, $5,000-$100,000

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    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.

    Compare
    Go to site
    Details
  • Used Car - Unsecured Personal Loan

    Interest rate
    comparison rate
    Monthly repayment
    6.56% p.a.to 21.99% p.a.
    6.56% p.a.to 22.79% p.a.based on $30,000
    over 5 years

    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.

    Compare
    Go to site
    Details
  • New / Demo Car Loan

    Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.24% p.a.
    7.37% p.a.based on $30,000
    over 5 years

    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.

    Compare
    Find out more
    Details
  • New Car Loan

    Fixed, Secured, $5,000-$100,000

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    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.

    Compare
    Go to site
    Details
  • Used Car Loan

    Up to 5 years old, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    7.39% p.a.
    8.52% p.a.based on $30,000
    over 5 years

    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.

    Compare
    Find out more
    Details

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^See information about the Mozo Experts Choice Personal Loan 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.