Your selected car loans
3-year fixed rates starting at 6.99% p.a. (6.99% p.a. comparison rate*)
No monthly service fee
No early repayment penalty or late repayment fees
Borrow from $5,000 up to $50,000 for 1 to 7 years.
Application fees range from $0 up to $499, depending on your credit score.
Revolut isn’t your typical lender. It’s an all-in-one money app with bank accounts, share trading, international money transfers, and more. Its key selling-point is that you can apply for and manage your car loan entirely through the Revolut app.
When you’re approved for a Revolut car loan, your funds will be deposited directly into your Revolut account. This means you’ll need to sign up for an account with the lender and have a smartphone to use its app.
You can borrow between $5,000 to $50,000 and pay off your car over 1 to 7 years, giving borrowers some flexibility.
Three-year fixed rates start at a relatively competitive 6.99% p.a. (6.99% p.a. comparison rate*), but the maximum rate goes all the way up to 24.99% p.a. (22.79% p.a. comparison rate*), depending on your credit score.
But your application fee can also vary based on how good your credit is, going from $0 to $499. This is a pro for those with excellent credit, but a con for those with bad scores.
More pros for Revolut’s car loan include no monthly service fee, no early repayment penalty, and no late repayment fees. However, missed repayments will still show up on your credit file.
All Revolut personal and car loans are unsecured, meaning you won’t have to use your new car as collateral for the loan. While this usually means you’re charged a higher interest rate, Revolut’s offer is still reasonably good, compared to a lot of the unsecured car loans in the Mozo database.
Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away.
Competitive fixed rates for borrowers on 1-7 year loans from $5,000 up to $50,000. $0 monthly fees and no early repayment fees to pay. Fast application process on the Revolut app. According to Revolut and subject to loan approval, you'll receive your money into your Revolut account straight away. Eligibility criteria applies.
Your selected car loans
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Write a reviewRevolut is registered in Australia and regulated by the Australian Securities & Investments Commission, like all financial services providers. While this doesn’t outright guarantee their legitimacy, the neobank has been operating in over 100 countries and regions since launching in 2015, and has amassed over 45 million customers.
Yes, you will need to set yourself up with a Revolut account because that’s where the funds for your car loan will be deposited, if your application is successful. This also means you’ll need a smartphone capable of running the Revolut app, and the technical know-how required to use it.
While you can get an interest rate quote for a Revolut car loan through the lender’s website, most of the application process is done via the Revolut mobile app.
To apply, you will need to:
* 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.
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