Your selected car loans
Home Owner Discount, Including Demo, 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 our Mozo Review to learn more about the loans.com.au New Car Loan - Special
Your selected car loans
Including Demo, Variable, Secured
Low variable car loan rate for purchasing new and demo vehicles from dealers. Extra low rate for qualifying homeowners. 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 7.74% would cost $37,153.94 including fees.
Read our Mozo Review to learn more about the loans.com.au New Car Loan - Special
Your selected car loans
Fixed, Secured
Get a competitive fixed interest rate on a secured new car loan of up to $75,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. 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 our Mozo Review to learn more about the OurMoneyMarket New Car Loan
Your selected car loans
Home Owner Discount, Including Demo, Fixed, Secured
Eligible for homeowners only. Low fixed car loan rate for purchasing new and demo vehicles from dealers. Early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^. 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 7.09% would cost $36,598.64 including fees.
Read our Mozo Review to learn more about the loans.com.au New Car Loan - Special
Your selected car loans
New or Used, Fixed, Secured
Get a 1% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^. 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 7.29% would cost $36,768.95 including fees.
Read our Mozo Review to learn more about the loans.com.au Clean Green Car Loan
Your selected car loans
Including Demo, Fixed, Secured
Low fixed car loan rate for purchasing new and demo vehicles from dealers. There is no monthly or ongoing fees and early payout options available. Winner of Mozo's Experts Choice Car Loan 2021 award^. 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 8.29% would cost $37,627.84 including fees.
Read our Mozo Review to learn more about the loans.com.au New Car Loan - Special
Your selected car loans
Home Owner, New or Used, Fixed, Secured
Get a 1% discount on your car loan interest rate if you buy a qualifying green car. Winner of Mozo's Experts Choice Green Car Loan 2021 award^. 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 6.09% would cost $35,754.42 including fees.
Read our Mozo Review to learn more about the loans.com.au Clean Green Car Loan
Your selected car loans
^See information about the Mozo Experts Choice Car loans Awards
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See more car loan providersIt’s no secret that choosing the perfect car loan is tough and knowing what to look for is even tougher. So to help make sure you’re on the right track, we’ve answered some of the most commonly asked questions about car loans below.
Once you start comparing car loans, you’ll come across two types, ‘secured’ and ‘unsecured’ car loans. When choosing the right loan for you, you’ll need to factor in the benefits and drawbacks of both types of loans, like:
One of the things you’ll notice once you start shopping around on car loans is that majority of the loans you’ll find are secured. This is because unlike a used car, your shiny, new car is a pretty valuable asset and once you sign up for your loan, your lender has permission to repossess your car if you default on the loan.
One of the many terms you’ll come across when you start comparing car loans are ‘fixed’ and ‘variable’ interest rates. When it comes to interest rates, there is no ‘better’ rate as you should be choosing the rate that best suits your financial situation.
Yes, although the interest rate is an important part of your loan, you should also take the comparison rate into account. A comparison rate gives you a more accurate look at what your loan could cost you, as it factors in not only the interest rate, but any fees or other charges you may have to pay during your loan. Just keep in mind that the advertised comparison rate can only give you a rough estimation for your new car loan and that the actual comparison rate for your loan will depend on your loan amount and term.
Similarly to getting a used car loan, one of the downsides about using a car loan to get yourself a brand new car is the amount of money you're going to have to borrow. So be sure to take the time to compare the features that are going to help out in the long run (and save you some cash), like:
Even though you may have to pay a few fees during your loan, there are a couple of features that could come in handy, like:
There are many types of fees your loan may have, including:
Car loans typically last between 3-5 years, with many borrowers opting for a three year loan term to pay the loan off sooner. And while a shorter loan term could help cut your interest down, it does mean that your repayments will be larger. On the other hand, a longer loan term may mean smaller repayments, but you will be forking out more in interest.
The amount you can borrow will depend on your credit score and financial circumstance, which your lender will use to determine your borrowing capacity. Also worth noting, loan amount can range greatly, including $10000 personal loans to $50000 personal loans.
Absolutely! Since there are a number of car loans in Australia, it makes sense to compile a heap of them into one, easy to manage place, like our car loan comparison tool. Simply click the ‘go to site’ button once you’ve found the right loan for your needs to go direct to the lender’s site, where you can start your application.
Yes, like any type of car, new or old, there are some additional costs you’ll need to factor into your budget, such as:
You may still be able to take out a new car loan if you do have a bad credit history, but you should keep in mind that you will have to pay a much higher interest rate. Mozo does not compare bad credit car loans because of the high interest rates, so you may be better off looking into a secured car loan or repairing your credit history first.
Yes, some lenders do offer pre-approval for car loans that are being used to purchase a new car. When you apply to be pre-approved, you will need to submit all relevant documentation, like your credit history, bank statements and payslips. The lender will then evaluate your financial circumstance and determine how much you can afford to borrow.
One of the big benefits of being pre-approved for a car loan is that you can then negotiate the price of the car, since you already know how much you can spend. But this also means that if the price exceeds your pre-approved amount, you will have to walk away.
We should also mention that car loan pre-approvals are often available for a short period of time like, 2-3 months, so you’ll need to act quickly once you are pre-approved.
If you find that you are no longer on the most competitive rate or that your repayments are becoming too difficult to manage, you are able to refinance your car loan. You can compare your refinance options by using our car loan refinance comparison tool.
Once you’ve found your perfect loan, it’s time to gather all the necessary documentation to get ready to apply. While every lender will have different requirements, some of the most common things you may be ask to provide in order to get a new car loan include:
If you want to jump in, perhaps check out $5000 personal loans, or if secondhand is more your vibe, look into the used car loans.
The bank is very useful and helpful.
Read full reviewThe bank is very useful and helpful.
This credit union has taken nearlly 4 weeks to approve our car loan, after constant questioning about individual items on our bank statement etc my wife and i are are fed up. We have done buisness before with them and in december had just finished paying a loan back of 900$ p/m over 5 years so we though it would be easy to get another for 700$ p/m, how we where wrong. Their customer service is non exsistent and my wife who is a high income bracket earner working in the financial disputes and the legal profession couldnt believe the questions that have been asked of us. My advice dont do any buissness with peoples choice, eventually you will regret it. We are in the process of cancelling our loan application and closing accounts, weve instructed family members to do the same.
Read full reviewThis credit union has taken nearlly 4 weeks to approve our car loan, after constant questioning about individual items on our bank statement etc my wife and i are are fed up. We have done buisness before with them and in december had just finished paying a loan back of 900$ p/m over 5 years so we though it would be easy to get another for 700$ p/m, how we where wrong. Their customer service is non exsistent and my wife who is a high income bracket earner working in the financial disputes and the legal profession couldnt believe the questions that have been asked of us. My advice dont do any buissness with peoples choice, eventually you will regret it. We are in the process of cancelling our loan application and closing accounts, weve instructed family members to do the same.
After being with a few other institutions over the years Pepper would easily be the best place I’ve been to in regards to borrowing money.
Read full reviewAfter being with a few other institutions over the years Pepper would easily be the best place I’ve been to in regards to borrowing money.
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