RateSetter is an Aussie peer to peer provider with one unsecured loan to offer those in need of a new or preloved car. If you’re looking to borrow from an alternative to the major banks, start your RateSetter research using the comparison table, FAQs and answers below. Need to compare more loans? Return to Mozo’s car loan hub where you’ll have plenty of competitive financing options to browse through.
|Product||Interest rate from||Comparison rate from*||Upfront fee|
8.71% p.a.based on $10,000
† Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.
It’s simply a rate you can count on staying as it is while you repay your loan, meaning you’ll know what loan repayments will look like when you first borrow the money.
It means you don’t need to include your car into the loan contract as collateral. Sometimes, lenders will require security in return for a lower rate, so they can repossess it if the customer cannot commit to the loan financially.
Yes. In fact, you can buy any set of wheels you like with RateSetter, as there’s no security requirement.
Up to $35k, a half decent sum to buy your ride to work. If you want to purchase a pricey set of wheels, visit our car loans hub where some loans listed can exceed $100k.
No, RateSetter only issues monthly loan bills to customers.
From 6 months to 5 years.
Sure can, and additional loan repayments are fee-free too! Just keep in mind there is no redraw facility.
Unlike some fixed rate loans in the market where penalties kick in for early loan payouts, RateSetter doesn’t have break costs attached to its loans at all.
It involves filling out an online form in under 10 minutes. You’ll need to be credit-worthy though, plus not have faced bankruptcy in the past 7 years. Details to provide when you apply include...
Once you’ve sent your details through, the turnaround is quick. RateSetter may even tell you the outcome in a matter of minutes. Before you know it, you’ll be ready to buy that shiny new or used car!