loans.com.au Used Car Loan (Fixed)

This product is available in different versions. Pick the right version for you here.

The details shown below are for a fixed loan between $5,000 and $100,000

The details shown below are for a fixed loan between $5,000 and $100,000

Choose the version of this loan that suits you best

  • Loan: $5,000 $100,000

  • Loan: $5,000 $100,000

4.89% p.a.

5.44% p.a.based on $30,000
over 5 years

$400

loans.com.au Used Car Loan (Fixed)

4.89% p.a.

5.44% p.a.based on $30,000
over 5 years

$400

5.89% p.a.

6.45% p.a.based on $30,000
over 5 years

$400

loans.com.au Used Car Loan (Fixed)

5.89% p.a.

6.45% p.a.based on $30,000
over 5 years

$400

Mozo Review   loans.com.au Used Car Loan (Fixed) Review

Last updated: 26 September 2019.

What's hot:
  • Fixed interest rates from 4.89% p.a. (5.44% p.a. comparison rate*)

  • Free extra repayments

  • Flexible repayments schedule

What's not:
  • $400 application fee

Mozo snapshot:

The super low-rate Used Car Loan from loans.com.au makes getting the keys to your new car easier. With features aplenty, including flexible 3-5 year repayment terms and weekly, fortnightly or monthly repayment options, it could be the one for you. Just keep in mind, if you wish to pay the loan off early you will be hit with a $700 penalty.

Key features:

Fire up your car engine with the loans.com.au Used Car Loan. It’s low fixed rates from 4.89% p.a. (5.44% p.a. comparison rate*), combined with loan amounts ranging from $5,000 to $100,000, give you the freedom to choose the right used car for you. The loan is secured against that car you buy, but keep in mind, it’s only available for used cars purchased from a licensed dealer and not a private sale.

It has a pretty broad range of loan terms up for grabs, from 3, 4, or 5 years. You can also choose from weekly, fortnightly or monthly repayments, so that you can set up a payment system that works for you.

Plus, with no ongoing fees and free extra repayments, you’ll be on the road to paying off your loan in no time. Just take note that there’s no redraw facility on offer, and make sure you don’t plan on paying it off too fast, as there is a hefty $700 fee if you pay the whole thing off early.

Speaking of fees… there’s also a $400 application fee and $20 late payment fee to look out for.

Who it's good for:

Anyone looking for a low, fixed rate and flexible repayment options when financing their used car should consider looking into loans.com.au Used Car Loan.

Any catches?

Although there’s plenty of variety when it comes to term and repayment options, the loan is only available for used cars purchased from a dealer. If you’re buying in a private sale, you’ll need to look at other options..

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 4.89% p.a. fixed

  • 5.44% p.a.based on $30,000
    over 5 years

Fees
  • $400.00

  • $0.00

  • $20.00

  • $0.00

  • $700.00

Other financial bits
  • $5,000.00

  • $100,000.00

  • 3 Years

  • 5 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Used car must be purchased from a dealer, private sales are ineligible. $700 early repayment penalty applies on pro-rata basis. No penalty charged in the last year of the loan.

  • none

*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. WARNING: 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.

Details

Rates and fees information correct as at 18 November 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Fixed

  • 5.89% p.a. fixed

  • 6.45% p.a.based on $30,000
    over 5 years

Fees
  • $400.00

  • $0.00

  • $20.00

  • $0.00

  • $700.00

Other financial bits
  • $5,000.00

  • $100,000.00

  • 3 Years

  • 5 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Used car must be purchased from a dealer, private sales are ineligible. $700 early repayment penalty applies on pro-rata basis. No penalty charged in the last year of the loan.

  • none

*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. WARNING: 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.

Customer Reviews

How are loans.com.au personal loans rated by the Mozo community?

Overall customer rating
7.3/10
Price
8.9/10
Features
8.7/10
Customer service
8.3/10
Convenience
8.3/10
Trust
7.7/10
loans.com.au

About loans.com.au

100% Australian owned, loans.com.au opened its doors in 2010 with a vision of "making it easier for people to own and invest in property". loans.com.au offers a winning combination of low interest rates and fees and a commitment to excellent customer service. loans.com.au runs its own call centre and caters to home, investment and personal finance borrowers.

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