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Here at Mozo you can compare car loans from lenders who service Brisbane and the Sunshine State so you can find the right one for you.
Protect your credit score and get personalised help from an expert. Fido Finance does the comparing for you to help find top rate and repayment loan options from a range of trusted lenders. They receive high average review ratings by their customers. Getting in touch costs you nothing and commits you to nothing.
Fixed, Secured, $5,000-$100,000
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.
Read reviews and learn more about OurMoneyMarket car loans
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Variable, Secured
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.
Read reviews and learn more about loans.com.au car loans
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Fixed, Secured, No vehicle age limit, $5,000-$100,000
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.
Read reviews and learn more about OurMoneyMarket car loans
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Up to 5 years old, Variable, Secured
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.
Read reviews and learn more about loans.com.au car loans
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Fixed, Secured
Get a fixed rate car loan for amounts over $20,000 with Police Credit Union. Make additional repayments at any time without penalty. Free online redraw. Available for new and used cars. Can also be used for motorcycles, boats, caravans, trailers or any registrable vehicle.
Repayment terms from 1 year to 5 years. Representative example: a 5 year $30,000 loan at 6.48% would cost $35,497.21 including fees.
Read reviews and learn more about Police Credit Union car loans
Your selected car loans
Mozo has partnered with one of Australia’s leading car finance brokers, Fido Finance, to help you find a car loan match.
Sound good? To get started, simply provide a few details on what you’re looking for and Fido Finance can help you lock in a great car loan rate.
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You’ll soon find that there are loads of car loan options available in Brisbane from big banks and credit unions to peer-to-peer and online lenders. The lender you go for will ultimately depend on your specific needs and preferences. Hit up our car loan comparison tool to see what’s around.
Not everyone can afford to buy a brand new or secondhand vehicle outright, which is why many people opt for a car loan to help cover the initial cost and then pay it back gradually over time (plus interest).
There’s a lot to consider when choosing a car loan. Should you go for a variable or fixed interest rate? Secured or unsecured loan type? Well, it all depends on your current financial situation. But if you find yourself asking these questions, then keep on reading because we touch on it all below!
Nowadays most banks and lenders allow customers to apply for a car loan and submit all the relevant documentation (like proof of identity and income) online. Which means that it probably won’t matter where in Australia you live because you can technically apply from anywhere!
There’s certainly no shortage of car loan lender options in Brisbane. Especially considering that now most lenders allow you to apply for car loans online. Here are some of the different types of lenders you’ll have to choose from:
Big banks: If you’re kind of old school, then you might choose to take out a car loan with one of the big banks like Suncorp, NAB, Westpac or the Commonwealth Bank. Just be wary of the fact that they generally offer poorer rates than smaller banks do.
Customer-owned banks & credit unions: On the other hand, you might choose to go with a smaller mutual bank or credit union. These guys are usually all about the customers so more often than not they’ll opt to put their profits back into offering better rates to their customers.
Peer to peer lenders: Another option is to go with a peer to peer lender. These types of lenders are known to offer different rate tiers according to your credit history. Which means that if your credit report is in good shape then you just might be rewarded with a more competitive interest rate.
If you’ve picked out a loan and are ready to apply then here are some of the commonly asked for pieces of information that you might be required to supply in support of your application:
Proof of income: This could mean showing the lender bank statements or payslips to prove that you’re in a financial position which would enable you to commit to paying off a loan.
Proof of savings: To ensure that you can manage your money responsibly, the lender might ask you to show proof of genuine savings.
Proof of liabilities: This could be credit card debt, a home loan or other relevant debt you’ve accumulated.
Proof of insurance: Keep in mind that some lenders won’t grant you a car loan until you’ve purchased a comprehensive car insurance policy. You can compare car insurance policies right here at Mozo.
Identification: You’ll also be required to provide some form of identification, such as a driver’s license, proof of age card, passport, utility bills, one-to-two year’s worth of tax returns or bank statements.
Other information that you might be asked to provide is:
Car VIN number (to verify that the car’s not stolen/has money owing on it)
Registration plate
Motor number
Car make, year and model
The interest rates that are available will depend on the lender and usually whether the car you are buying is new or going to be secured against the loan. Secured loans usually have lower interest rates than unsecured loans. A lender might offer a variable interest rate or you might get the option to lock in a fixed rate. When you are comparing car loans, it is a good idea to look at the loan's comparison rate. This is a rate that includes interest plus fees so it gives you a more accurate indication of the true cost of a loan.
Not all car loans will have fees attached. The most common types of fees for car loans include upfront application fees, ongoing monthly service fees and loan termination fees. Most lenders will also have a late payment fee if you skip or miss a payment date. It's a good idea to set up an automatic repayment from your bank account so that you don't ever miss a payment.
Some useful features to look for in a car loan are flexible repayment options so you can work your regular repayments around your budget and pay schedule, the ability to make extra loan repayments and a redraw facility, which lets you redraw on any extra repayments you’ve made. Just remember that in some cases, the more features you have means more fees. So don’t let them go to waste!
Your interest rate, loan term and repayment frequency are all factors that can determine what your car loan repayments will be, so it’s hard to say. But you can use Mozo’s free car loan repayments calculator to get a rough estimate of what your repayments might be.
Here are a few things you can do to help give yourself the best shot possible at getting approved for a car loan:
Maintain a clean credit history: Lenders are generally required to check your credit history to decide whether you’re a suitable loan candidate. So do yourself a favour and put in the work to get that credit score up before you apply so you have a better chance of being approved.
Prove that you’re a good borrower: In the months leading up to when you plan on applying for a loan, do everything you can to prove that you’re a good borrower who can responsibly manage their money. A good place to start is by paying your bills on time and making regular deposits into your savings account.
Compare, compare, compare: Take the time to see what’s out there by running a car loan comparison at Mozo. Once you’ve found some options you’re happy with, narrow it down to just one loan. Then, make sure to only apply once you feel sure that you’ll be approved. To get a better understanding of which loans you’re likely to be eligible for, use Mozo’s free Rate Matcher Tool which compares loans based on your credit score.
Nowadays, most lenders allow customers to submit car loan applications online. So as long as you’re based within Australia, then your specific location shouldn’t really matter. By the same token, if you’re keen to do a city-based search then here are our Melbourne and Sydney car loan comparison pages.
Poor service misleading advice, do not waste your time
Read full reviewPoor service misleading advice, do not waste your time
The staff at RACQ bank are extremely accommodating. Products and Services are hassle free and communication is prompt and helpful. I am coming to the end of my 5 year loan term and would definitely use their services in future.
Read full reviewThe staff at RACQ bank are extremely accommodating. Products and Services are hassle free and communication is prompt and helpful. I am coming to the end of my 5 year loan term and would definitely use their services in future.
One of the worst finance provider. They offered me 24% interest rate for a car loan, while RACV offered 10%. Clearly they are just here to rob people
Read full reviewOne of the worst finance provider. They offered me 24% interest rate for a car loan, while RACV offered 10%. Clearly they are just here to rob people
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