| Product | Interest rate from | Comparison rate from | Upfront fee |
|---|---|---|---|
| Green Car Loan (Fixed, Secured) |
6.39% p.a. |
7.51% p.a.based on $30,000 |
$400.00 |
| Green Car Loan (Variable, Secured) |
6.09% p.a. |
7.21% p.a.based on $30,000 |
$400.00 |
| New Car Loan - Special (Including Demo, Fixed, Secured) |
6.89% p.a. |
8.01% p.a.based on $30,000 |
$400.00 |
| New Car Loan - Special (Including Demo, Variable, Secured) |
6.24% p.a. |
7.36% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (6 to 7 years old, Fixed, Secured) |
8.99% p.a. |
10.10% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (8 to 12 years old, Fixed, Secured) |
12.69% p.a. |
13.80% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (Up to 3 years old, Fixed, Secured) |
7.59% p.a. |
8.70% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (Up to 3 years old, Variable, Secured) |
7.74% p.a. |
8.85% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (Up to 5 years old, Fixed, Secured) |
7.69% p.a. |
8.80% p.a.based on $30,000 |
$400.00 |
| Used Car Loan (Up to 5 years old, Variable, Secured) |
7.74% p.a. |
8.85% p.a.based on $30,000 |
$400.00 |
As you may have noticed in the table above, all loans.com.au car loans have fixed rates. So is that a good thing? If you want to know exactly what your loan repayments are going to look like for the entire loan term, then yes! Not to mention, the rate at which you are charged is set competitively low.
loans.com.au also offers car loans that have variable rates. With variable rates, you typically can get low rates that come with various benefits. In the case of this online lender, the variable interest rate car loans from with a redraw facility.
Good question. If you borrow credit from loans.com.au, you’ll need to secure the new or preloved vehicle as collateral, meaning you can lose it if you face a loan default. Prefer an unsecured version instead? Return to our car loan comparison hub and find a better match.
From $5k to $100k. Work out an amount you can comfortably afford to pay back over time.
You can. Don’t forget to check whether the make and model of the car you have your sights on will qualify as security.
Note: The only difference between new car and second hand car loans at loans.com.au, is that the latter has a slightly higher interest rate.
Each week, fortnight, or month. You choose the billing cycle.
loans.com.au car loan contracts can range from 3 to 5 years. Make sure you carefully consider yours, as there are hefty fees involved for repaying your loan with more than 1 year to go. It’s fine to make extra repayments too, just keep in mind there isn’t a redraw facility for the fixed rate loans. If you get one of the variable loans you have access to a redraw facility.
Super easy - and as you’ve probably guessed - you can do it online. Prefer to discuss your loan with a human? No worries, just give the customer service line a buzz, and you can also access its online chat system.
For best chance of car loan success, have the following things ready to go before you apply:
You’ll hear back from loans.com.au soon after you’ve sumbitted the form, and should receive the funds within days. Best of luck and enjoy that new or preloved set of wheels!
Mozo users have rated loans.com.au car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Excessive early repayment fees and $400 establishment fee. Early repayment fee just went up to $700 in the first and second year and $500 in subsequent years. Means you're paying $700 early repayment in the first 2 years of a 3 year loan! Shop around. There's better deals out there. I'll never use them again.
Read full reviewExcessive early repayment fees and $400 establishment fee. Early repayment fee just went up to $700 in the first and second year and $500 in subsequent years. Means you're paying $700 early repayment in the first 2 years of a 3 year loan! Shop around. There's better deals out there. I'll never use them again.
I applied for a car refinance after checking with them if my employment status was ok for them to proceed (length of employment 5.5 months, and passed probation after 3 months and became permanent on the 4th month). They said bare minimum is 3 months so I qualify. After loan got approved and pending settlement the lending officer called me just the day before settlement and said I don't qualify as my employment contract shows a date of the 4th month. I advised this is the conversation we had before application where I told I became permanent last month hence applying now. He asked for supporting letter from employer mentioning length of employment, but when that was passed he called me and having few sips and said the application declined. Few years back I had an interview with these guys, I sacrificed and wanted to step back from my IT account management background to switch to Finance. But in the interview board 1 young guy came in the hoodies, and 1 young lady asked to me to roll play, and gave me script saying this is a warm genuine lead and I will need to finalise the deal. When I started roll play, and introduced me saying I was following on this lead, the lady interviewer said "NOT INTERESTED". I said you called us for a loan and spoke to such and such persona and I am the lending officer calling you to discuss. SHE AGAIN SAID "NOT INTERESTED". That's the day I realised that I was seeing some ametures and pretty bad company. But after this application experience years later, my belief is now set in stone. They should either work hard, or sacrifice their licence. Such a joke!
Read full reviewI applied for a car refinance after checking with them if my employment status was ok for them to proceed (length of employment 5.5 months, and passed probation after 3 months and became permanent on the 4th month). They said bare minimum is 3 months so I qualify. After loan got approved and pending settlement the lending officer called me just the day before settlement and said I don't qualify as my employment contract shows a date of the 4th month. I advised this is the conversation we had before application where I told I became permanent last month hence applying now. He asked for supporting letter from employer mentioning length of employment, but when that was passed he called me and having few sips and said the application declined. Few years back I had an interview with these guys, I sacrificed and wanted to step back from my IT account management background to switch to Finance. But in the interview board 1 young guy came in the hoodies, and 1 young lady asked to me to roll play, and gave me script saying this is a warm genuine lead and I will need to finalise the deal. When I started roll play, and introduced me saying I was following on this lead, the lady interviewer said "NOT INTERESTED". I said you called us for a loan and spoke to such and such persona and I am the lending officer calling you to discuss. SHE AGAIN SAID "NOT INTERESTED". That's the day I realised that I was seeing some ametures and pretty bad company. But after this application experience years later, my belief is now set in stone. They should either work hard, or sacrifice their licence. Such a joke!
LessWasted my time in applying, creating app accounts, uploading documentation and having a car loan appointment to be told that I don't qualify because I recently started a new job (in the same industry I have been in for 20 years) If length of time at current job is one of the criteria for an application, validate it on the form field instead of pushing people through the whole process to be bounced back. I already have a small car loan with loans.com.au that is nearly paid off but they wouldn't take that into account. Also when I asked how long it would take at my new job before I could reapply the response was vague, and both 3 and 6 months were mentioned. It seemed like the consultant was making it up as he went along. :)
Read full reviewWasted my time in applying, creating app accounts, uploading documentation and having a car loan appointment to be told that I don't qualify because I recently started a new job (in the same industry I have been in for 20 years) If length of time at current job is one of the criteria for an application, validate it on the form field instead of pushing people through the whole process to be bounced back. I already have a small car loan with loans.com.au that is nearly paid off but they wouldn't take that into account. Also when I asked how long it would take at my new job before I could reapply the response was vague, and both 3 and 6 months were mentioned. It seemed like the consultant was making it up as he went along. :)
They just wasted my one week for no reason. After completing online assessment, I got a phone call and got pre approval which was useless. And then from that point they start taking me in rounds. Every second day a new person contacts and asks for the same document which I have provided. At last I decided to withdrawal the application. Very unprofessional, and pathetic service.
Read full reviewThey just wasted my one week for no reason. After completing online assessment, I got a phone call and got pre approval which was useless. And then from that point they start taking me in rounds. Every second day a new person contacts and asks for the same document which I have provided. At last I decided to withdrawal the application. Very unprofessional, and pathetic service.