Low rate car loans that’ll have you “On the road again”

So you test drove the car once, and now you’ve already bought the matching seat covers. We hate to burst your bubble, but before you get too carried away and order those personalised plates, you might want to figure out one other (super important!) little detail… the car loan.

When it comes to car shopping, it’s easy to get caught up in the moment and rush the finer details, like how exactly you're going to pay for the car. We don’t blame you! Nothing goes to your head quicker than that ‘brand new car’ smell. We'd rather not spoil your special moment, which is why we’ve done all the detective work for you and compiled a list of low-rate car loans, so you can be one step closer to getting that fresh set of wheels!

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 89 car loans.
Last updated 19 July 2024 Important disclosures and comparison rate warning*
loans.com.au - New Car Loan - Prime Special
  • Low 5.44% p.a. fixed interest rate (5.99% comparison rate^^)
  • Flexible repayment terms
  • 2018 Mozo Experts Choice Award Winner in the Car Loan category*
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The details:

With a low 5.44% p.a. fixed interest rate (5.99% comparison rate^^), the Loans.com.au New Car Loan is worth a spot on your potential new car loan list. On top of a low rate, this online car loan offers a range of flexible features, such as repayment terms of 3-5 years, and the choice of either weekly, fortnightly or monthly repayment options. The Loans.com.au New Car Loan is a great option if you’re thinking of purchasing either a brand new car or one that is up to 4 years old.

Heritage Bank - Car Loan
  • Fixed rates from 5.99% p.a. (6.63% comparison rate^^)
  • Flexible repayment schedule
  • 2018 Mozo People’s Choice Award Winner in the Outstanding Customer Satisfaction and Most Recommended categories*
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The details:

Low-rates and good deals are great, but if the bank’s customer service is poor, how much is that discount really worth? By choosing the Heritage Bank Car Loan, you can rest assured that you’re banking with a 2018 Mozo People’s Choice multiple award-winner in the Outstanding Customer Satisfaction and Most Recommended categories*. On top of their highly praised customer service, the Heritage Bank Car Loan comes with a competitive 5.99% p.a. interest rate (6.63% comparison rate^^), extra repayment options and free redraw facility. This loan is definitely worth having a look at!

Great Southern Bank - Secured Car Loan
  • 6.79% p.a. fixed rate (7.16% comparison rate^^)
  • Free extra repayments and redraw facility
  • 2018 Mozo Experts Choice Award Winner in the Used Car Loan category*
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The details:

Taking out a 2018 Mozo Experts Choice Award in the Used Car Loan category*, the CUA Secured Car Loan offers a minimum $5,000 loan amount, which could be all you need if you’re looking at a secondhand model for your first car. With a competitive 6.79% p.a. fixed interest rate (7.16% comparison rate^^) up for grabs, free extra loan repayments and redraw facility, and term options ranging from 1 to 7 years, the CUA Secured Car Loan will get you there.

Bank Australia - New Car Loan
  • Fixed rates from 6.45% (6.66% comparison rate^^)
  • Receive a discounted interest rate and no upfront fees if your car meets Bank Australia Low Emission Vehicle (LEV) criteria
  • 2018 Mozo Experts Choice Award Winner in the Green Car Loan category*
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The details:

The Bank Australia Car Loan comes with a competitive 6.45% p.a. interest rate (6.66% comparison rate^^) and no ongoing service fees. If you have a bit of extra cash up your sleeve which you want to put towards your car loan, you’re in luck! The Bank Australia Car Loan allows extra repayments at no additional cost, plus flexible loan term options ranging from 1-7 years. On top of this, if your car meets the Bank Australia Low Emission Vehicle (LEV) criteria you’ll receive a discounted interest rate and you won’t have to pay the $150 establishment fee.

For more options, check out our car loan comparison table.

*Find out more about the Mozo Expert Choice Awards for Car Loans and the People’s Choice 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.