7.9 / 10

based on 689 loans.com.au banking product reviews as rated by Mozo community

loans.com.au car loans

With a name like that, you’d expect Loans.com.au to specialise in helping Aussies get their hands on new and preloved cars sooner rather than later! Well it sure does, with an offering of not one, but two car loans. Find out what this online only lender could do for you, right here on this page.

loans.com.au offers the following car loans

Rates and fees verified as correct at 03 August, 2021. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate from Comparison rate from Upfront fee  
Clean Green Car Loan (New, Fixed, Secured)

3.97% p.a.

4.51% p.a.based on $30,000
over 5 years

$400

Go to site
New Car Loan (Including Demo, Fixed, Secured)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

$400

Go to site
Used Car Loan (5 to 7 years old, Fixed, Secured)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

$400

Used Car Loan (Dealer Only, Up to 4 years old, Fixed, Secured)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

$400

Go to site

Loans.com.au car loan FAQs

What is a fixed interest rate?

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.

What is a secured car loan?

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.

How much can I borrow?

From $5k to $100k. Work out an amount you can comfortably afford to pay back over time.

Can I buy a used car?

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.

How frequently will I need to make repayments?

Each week, fortnight, or month. You choose the billing cycle.

How long can I take to pay off my loan?

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.

What’s the application process like?

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:

  • Your driver’s licence or passport to prove your ID
  • Full residential address
  • Employment info and salary

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!

How are loans.com.au car loans rated?

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.

Icon of car-loans
loans.com.au car loans
Overall
4.0/10
Price
Features
Customer service
Convenience
Trust

12 Reviews

Recent loans.com.au car loan reviews

loans.com.au Used Car Loan (Fixed)
Overall 3/10
Early payout and establishment fees are high.

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 review

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.

Price
4/10
Features
8/10
Customer service
8/10
Convenience
8/10
Trust
2/10
Less
Chris, Queensland, reviewed 28 days ago
loans.com.au Used Car Loan (Fixed)
Overall 0/10
DON'T GO FOR THIS COMPANY.

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 review

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!

Less
Tan, New South Wales, reviewed 2 months ago
loans.com.au Car Loan
Overall 3/10
Basic customer service, and application process

Wasted 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 review

Wasted 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. :)

Price
10/10
Features
6/10
Customer service
4/10
Convenience
4/10
Trust
4/10
Less
Anna, Victoria, reviewed 3 months ago
loans.com.au Used Car Loan (Fixed)
Overall 1/10
Very unprofessional, and pathetic service.

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 review

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.

Price
1/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
1/10
Less
Nasir, Victoria, reviewed 4 months ago

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