Including Demo, Fixed, Secured
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.
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^.
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^.
Read our Mozo Review to learn more about the loans.com.au New Car Loan
Fixed, Unsecured
Terms from 2 to 3 years. Representative example: a 3 year $10,000 loan at 6.99% would cost $11,450.06 including fees.
Be rewarded for your good credit history with low rates. Plus there are no ongoing fees and you can pay off your loan with no early repayment penalties. Simply apply online and get a quote in minutes.
Be rewarded for your good credit history with low rates. Plus there are no ongoing fees and you can pay off your loan with no early repayment penalties. Simply apply online and get a quote in minutes.
Read our Mozo Review to learn more about the SocietyOne Car Loan - Excellent Credit
Fixed
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,276.58 including fees.
Enjoy competitively low rate car loans from 4.89% (comparison rate 5.44% p.a.) between $10,000 and $100,000 for new, demo and used vehicles. Take advantage of flexible 3, 5 or 7 year loan terms. No early repayment or exit fees. You must be 21 years or over to qualify and earn above $35,000.
Enjoy competitively low rate car loans from 4.89% (comparison rate 5.44% p.a.) between $10,000 and $100,000 for new, demo and used vehicles. Take advantage of flexible 3, 5 or 7 year loan terms. No early repayment or exit fees. You must be 21 years or over to qualify and earn above $35,000.
Read our Mozo Review to learn more about the Plenti Car Loan
Fixed
Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 5.19% would cost $34,320.13 including fees.
Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. Borrow between $5,000 and $63,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!
Low personalised rates, ideal for borrowers with excellent credit. No monthly account fees, no early payout fees, so you can pay off your loan sooner. Borrow between $5,000 and $63,000. Easy online application, receive a response in minutes and approved funds within 24-48 hours!
Read our Mozo Review to learn more about the Wisr Secured Car Loan
Fixed
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.79% would cost $35,729.09 including fees.
Reach your goal sooner without being penalised with $0 early payout fee. $0 monthly fees. Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget. Winners of Australia's Best Large Credit Union in 2020.
Reach your goal sooner without being penalised with $0 early payout fee. $0 monthly fees. Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget. Winners of Australia's Best Large Credit Union in 2020.
Read our Mozo Review to learn more about the CUA Secured Car Loan
New, Fixed, Secured
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 3.97% would cost $33,525.38 including fees.
No monthly or ongoing fees. Get a 0.70% 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^.
No monthly or ongoing fees. Get a 0.70% 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^.
Read our Mozo Review to learn more about the loans.com.au Clean Green Car Loan
Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 4.45% would cost $33,516.53 including fees.
Pay zero fees on loans up to $100,000 with NOW Finance. With no establishment fee, ongoing fees or early payout fee. What’s more, get your personalised interest rate in two minutes with no impact on your credit score!
Pay zero fees on loans up to $100,000 with NOW Finance. With no establishment fee, ongoing fees or early payout fee. What’s more, get your personalised interest rate in two minutes with no impact on your credit score!
Read our Mozo Review to learn more about the NOW Finance No Fee Secured Personal Loan
Under 3 years old, Fixed, Secured
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.99% would cost $36,528.67 including fees.
A car loan with flexible loan repayment structure, choose between a weekly, fortnightly or monthly repayment schedule. Rates start from 6.99%. however to receive minimum rate applicants must be homeowners or have a mortgage, have an excellent credit rating and be a new Personal Loan customer.
A car loan with flexible loan repayment structure, choose between a weekly, fortnightly or monthly repayment schedule. Rates start from 6.99%. however to receive minimum rate applicants must be homeowners or have a mortgage, have an excellent credit rating and be a new Personal Loan customer.
Read our Mozo Review to learn more about the Latitude Car Loan
^See information about the Mozo Experts Choice Car loans Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
How much could you save by switching your car loan? Compare savings from over 500 car loans. Find out in a few clicks.
It’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.
We love the Bendigo Bank, our purchase of a new vehicle was made extremely easy to select with a rate of almost 5% less the the car dealership it was a no brainer
Read full reviewWe love the Bendigo Bank, our purchase of a new vehicle was made extremely easy to select with a rate of almost 5% less the the car dealership it was a no brainer
I have dealt with this company for the past year and they have repeatedly ignored my emails, invoiced incorrect amount and also attempted zero assistance when I have asked for anything. They write invoices at the skill of a child first learning how to use a computer. Ignore emails for weeks then offer no means of solutions. Contacting them is just a repetitive circle of absolutely no help whatsoever. I registered a complaint that they ignored and just routed me back to the original person I was complaining about that refuses to provide me with any assistance. They request thousands of dollars with no form of receipt or acknowledgement of payment. I have seen scam companies operate better.
Read full reviewI have dealt with this company for the past year and they have repeatedly ignored my emails, invoiced incorrect amount and also attempted zero assistance when I have asked for anything. They write invoices at the skill of a child first learning how to use a computer. Ignore emails for weeks then offer no means of solutions. Contacting them is just a repetitive circle of absolutely no help whatsoever. I registered a complaint that they ignored and just routed me back to the original person I was complaining about that refuses to provide me with any assistance. They request thousands of dollars with no form of receipt or acknowledgement of payment. I have seen scam companies operate better.
Rude customer care... racist
Read full reviewRude customer care... racist
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