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.
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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.