5 new car loans to check out in 2021
While many Aussies saw their finances take a bad turn in 2020 due to the COVID-19 outbreak, others wound up with a bigger bank balance because of it.
Particularly those who’ve been fortunate enough to continue working from home during the pandemic and haven’t had to worry about expenses like transport fares, work lunches or gym memberships.
If you were of the latter group and got a financial leg up in 2020, then you might now be looking to put those extra savings towards a new car.
In which case, here are 5 new car loans to check out in 2021:
loans.com.au - New Car Loan - Prime Special
- Low 4.67% p.a. fixed interest rate (5.22% p.a. comparison rate*)
- Flexible repayment terms
- 2021 Mozo Experts Choice Award-Winner in the Car Loan category^
The details:
On the hunt for a car loan so you can treat yourself to a new set of wheels? Well, with a competitive fixed rate of 4.67% p.a. (5.22% p.a.comparison rate*) on amounts from as little as $5,000 right up to $100,000, with 3-5 year term options, be sure to check out the Loans.com.au New Car Loan (Fixed). This loan also offers flexible weekly, fortnightly, monthly repayment options, the ability to make extra repayments, plus it won a 2021 Mozo Experts Choice Award^ in the Car Loan category!
Plenti - Car Loan
- Competitive fixed rates from 4.89% p.a. (5.44% p.a. comparison rate*)
- Ability to make extra repayments
- Tiered interest rates based on your credit score
The details:
The Plenti (Fixed) New Car Loan offers tiered interest rates based on your credit score, so if you’ve managed to keep a clean credit history and are eligible, then you could potentially score a fixed rate from as low as 4.89% p.a. (5.44% p.a. comparison rate*). In addition to this, Plenti offers loans from anywhere between $10,000 and $100,000 with 3-7 year term options and the flexibility to make extra loan repayments. Just be aware that this is a secured loan, so you’ll need to use your new car as security.
Wisr - Secured Car Loan
- Tiered fixed rates from 5.19% p.a. (5.46% p.a. comparison rate*)
- Extra repayments allowed
- Flexible weekly, fortnightly & monthly repayment options
The details:
The Wisr Secured Car Loan comes with tiered interest rates based on your credit score, meaning that the better your credit score is, the lower the interest rate. So you could potentially score competitive fixed rates from as low as 5.19% p.a. (5.46% p.a. comparison rate*) or as high as 18.95% p.a. (19.26% p.a. comparison rate*) depending on your credit rating and the asset you are financing. In addition, this loan allows customers to borrow amounts from $5,000 up to $63,000, with 3 to 7-year loan term options. Other handy features this loan offers are the choice of either weekly, fortnightly or monthly repayments and the ability to make extra loan repayments so you can pay your loan off faster. Also, be aware that this is a secured loan type - so you’ll need to use your new vehicle as collateral against it.
Great Southern Bank - Secured Car Loan
- Free extra repayments & redraw facility
- Flexible repayment options
- No early payout fees
The details:
The CUA Secured Car Loan (Fixed) offers a fixed interest rate of 6.79% p.a. (7.16% p.a. comparison rate*) on loans from as low as $5,000 to as high as $100,000 with 1 to 7-year loan term options. On top of this, the loan comes with a range of useful features, such as flexible weekly, fortnightly and monthly repayment options, the ability to make free extra repayments, plus a free redraw facility - so you’ll be able to withdraw on any extra repayments you’ve made should you ever need access to extra funds. Don’t forget, this is a secured loan, so you’ll need to use your new vehicle as security against the loan.
loans.com.au - Clean Green Car Loan
- 2021 Mozo Experts Choice Award-winner^
- Low 3.97% p.a. fixed interest rate (4.51% p.a. comparison rate*)
- Free extra repayments & redraw facility
The details:
Looking for a car loan that’s both budget-friendly and eco-friendly? You’re in luck! With the Loans.com.au Clean Green Car Loan, you could score a discounted interest rate when you buy a qualifying green car. Meaning you could score a fixed interest rate as low as 3.97% p.a. (4.51% p.a. comparison rate*) on amounts between $5,000 and $100,000, with 3 to 5-year loan term options. On top of this, the loan also offers weekly, fortnightly and monthly repayment options and the ability to make extra loan repayments. Not to mention, it won a 2021 Mozo Experts Choice Award^ for best Green Car Loan.
After more car loan options? Then head on over to our car loan comparison tool where you can compare car loans and find a deal that could be right for you.
^Click here for more information about the 2021 Mozo Expert Choice Car Loans Awards.
* 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.