Leading online lender loans.com.au races ahead with new low variable rate on car loan
Lowering the headline rate for their new car loan special, online lender loans.com.au now offers one of the lowest available car loan rates in the Mozo database.
While the ongoing trend of interest rates rising has seen car loans gradually do the same, loans.com.au are bucking the trend with their recent rate reduction.
Their variable rate now starts at 5.99% p.a. (7.11% p.a. comparison rate*) for the new car loan special. This is a dramatic difference from the average car loan rate in the Mozo database, which currently sits at 7.32%.
Low rate options aren’t limited to variable rate loans. If you’re looking at going green, loans.com.au also offers a competitive option, starting their fixed rate Electric/Green Car Loan at 5.79% p.a. (6.91% p.a. comparison rate*).
Many Aussies can find better rates if they’re willing to buck the hold of the big banks and research the options available with challengers. Smaller lenders lack the same overheads of the major players, with many online lenders being able to offer fast and easy applications and approvals processes.
Online car loans
loans.com.au – New Car Loan Special
- Variable rates from 5.99% p.a. (7.11% p.a. comparison rate*)
- Early payout options
- Fast online application process
Get on the road with the New Car Loan Special from online lender loans.com.au. This option for new and demo vehicles has variable rates starting from 5.99% p.a. (7.11% p.a. comparison rate*), with early payout options. You can borrow between $5,000 and $150,000 with loan terms up to 7 years. Make sure to keep in mind the $400 one-off application fee and an $8 monthly service fee. Applications are 100% online, with assessments usually taking under 24 hours to complete.
OurMoneyMarket – Car Loan
- Fixed rates from 6.57% p.a. (7.19% comparison rate*) for good credit borrowers
- No monthly account fees and no early repayment fees
- Fast online application
Looking for a low rate car loan to get behind the wheel of your dream car sooner? With OurMoneyMarket’s competitive fixed loan rates for borrowers with good credit, you'll be able to borrow between $5,000 and $75,000 and get on the road faster than ever. There are no monthly account fees and no early repayment fees to worry about with this online lender. Plus, you can enjoy a quick and easy 100% online application.
Online personal loans
NOW Finance – No Fee Unsecured Personal Loan
- Unsecured rates from 6.75% fixed (6.75% comparison rate*)
- Zero upfront fees or ongoing fees
- Mozo Experts Choice Unsecured Personal Loan Winner 2022^
NOW Finance is a popular choice with borrowers looking to avoid costly fees and high interest rates. This award-winning online lender offers no-fee personal loans for up to $50,000, with super low rates for good credit borrowers. Apply online to get a personalised rate quote in 2 minutes without impacting your credit score, and NOW Finance offers funds as fast as 24-48 hours after you’re approved.
Harmoney – Unsecured Personal Loan
- Unsecured rates from just 5.86% p.a. fixed (6.65% p.a. comparison rate*)
- Funds in as little as 24 hours after loan term acceptance
- Borrow up to $70,000 with no early repayment fees
Online lender Harmoney has made a name for itself with its super fast, low cost, 100% online personal loans. The Harmoney Unsecured Personal Loan offers extremely low rates for borrowers with great credit and makes borrowing easy with an efficient online application and 24 hour cash turnaround. Note that you'll need to earn above $30,000 a year to qualify.
* 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.