Car loan reviews

Read the latest car loan reviews from the Mozo community to get the inside story on everything from the cheapest loans to the best customer service.

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Recent car loan reviews

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  • loans.com.au Used Car Loan (Up to 4 years old, Fixed, Secured) review

    Overall rating   1 / 10
    Very unprofessional, and pathetic service.

    They just wasted my one week for no reason. After completing online assessment, I got a phone call and got pre approval which was useless. And then from that point they start taking me in rounds. Every second day a new person contacts and asks for the same document which I have provided. At last I decided to withdrawal the application. Very unprofessional, and pathetic service.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Nasir, Victoria, reviewed 4 days ago
  • Bank Australia New Car Loan (Fixed, Secured) review

    Overall rating   2 / 10
    2 weeks and still no answer regarding a car loan!

    Incredibly disappointed with Bank Australia’s car loan application. Particularly given I’m already a bank Australia customer. I have been waiting for 2 weeks regarding even a “conditional approval”. No one has been able to give me an explanation or reasoning as to why the process is taking so long, particularly when other lenders offer a 24-48 hour turnaround. I will be seeking a different lender and will be considering moving my banking elsewhere because of how frustrating this process has been.

    Price
    5 / 10
    Features
    6 / 10
    Customer service
    2 / 10
    Convenience
    2 / 10
    Trust
    2 / 10
    Less
    Cynthia, Queensland, reviewed 16 days ago
  • Pepper Money Car Loan review

    Overall rating   1 / 10
    Don't touch with a 10-foot barge pole.

    As the rules here prohibit me from expressing my true feelings (no foul language allowed), suffice to say that this company is dubious at best. Terrible customer service, extremely high interest rates, dodgy practices at payout, unexplained charges when transacting, etc. You're better-off going to a bank or simply staying without!

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Davis, Western Australia, reviewed 21 days ago
  • loans.com.au New Car Loan (Including Demo, Fixed, Secured) review

    Overall rating   10 / 10
    Excellent service!

    Was a bit sceptical but thought I’d give them a call. From first phone call were great to deal with, good follow ups, very quick and efficient process, and offered me the lowest rate which I wasn’t expecting. Could not ask for anything more! Would definitely recommend and use them again in the future.

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    George, New South Wales, reviewed 21 days ago
  • Bendigo Bank Secured Personal Loan (Fixed) review

    Overall rating   10 / 10
    Excellent Service & Value

    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

    Price
    10 / 10
    Features
    10 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Garry, Queensland, reviewed about 2 months ago
  • Toyota Finance Car Loan review

    Overall rating   1 / 10
    The most purposefully inept company around

    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.

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Paul, Queensland, reviewed about 2 months ago
  • Coles Car Loan review

    Overall rating   1 / 10
    Never experienced before ... most pathetic service

    Rude customer care... racist

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Sabin, New South Wales, reviewed 2 months ago
  • BMW Finance Car Loan review

    Overall rating   1 / 10
    Don't deal with an unethical corporation.

    Keep away from this cartel! I have dealt twice with this company over 10 years and recommend you steer clear of them. They received a scathing mention in the recent Banking Financial Royal Commission. I can see why. My 40% residual came up in July during the Covid pandemic. BMW quickly chased me for the payout figure mercilessly. I asked them to continue the repayments as is but that was not allowed. They insisted I seek alternative refinancing or payout. Really seek alternative refinancing in this climate? Once pressed on Government Covid Legislation and rules they agreed to extend the payout for a few months but on a much higher interest rate. The RBA rate is 0.25% and my investment properties are on 3.44%. BMW are now frisking me for 9.75% unlike my original contract which was 6.75%. As per the Royal Commissions report keep away from this extortionist organisation! Wolves in sheep's clothing!

    Price
    1 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    1 / 10
    Trust
    1 / 10
    Less
    Bob, Victoria, reviewed 3 months ago
  • Beyond Bank Car Loan review

    Overall rating   2 / 10
    An inflexible computer will decide for you.

    I made an enquiry online about a car loan. A consultant called me days later but I missed the call, so the consultant left a number to call on. They never answered, despite days of calling back. Finally, I got through to the bank on their main phone number (after waiting on hold for 25 minutes). We went through all criteria for the loan and the consultant said all was good, until the computer rejected the application as unaffordable. The reason? The system would not accept that multiple people in a household contribute to rent, and instead considered me to be responsible for the entirety of the rent. This is archaic and ridiculous. All up, not worth the effort of waiting.

    Price
    8 / 10
    Features
    7 / 10
    Customer service
    1 / 10
    Trust
    6 / 10
    Less
    Charles, New South Wales, reviewed 3 months ago
  • IMB Bank Car Loan (up to 2 years old, Fixed, Secured) review

    Overall rating   1 / 10
    Worst customer service experience of my life.

    I have an existing loan for $16k. The term is for 5 years although I will have easily cleared it in the next 2. I am purchasing a new car, and thought I would move the loan to the car to reduce the interest I am paying. I had calculated this will save me over $2000 over the 24 months if I leave my payments as they are. My wife and I both work, and yes we have a mortgage. On first contact with IMB the phone people were great, answered all the questions I had, were very forthcoming and made every effort to sell the loan to me. As they should. However once an application was filed I was treated like a second class citizen or perhaps a felon and spoken to in such a manner as to cause offence from the first word. It was like speaking to some sort of enemy who wanted to do all they could to make you feel small and obstruct any constructive comment into a destructive force. This person insisted on my wage paying 100% of all the expenses to qualify for a loan I already have with another bank. Blaming responsible lending for this requirement. However the attitude was clear that she was not there to find a way to help the client she was there to obstruct and belittle the client every way she can. I thought this was me, or having a bad day. However due to her impossible irrational non listening no thought approach she insisted on contacting my wife the following day. My wife's comments are worse than mine. In fact what my wife said about this woman cannot be written here.,however let's say she was less than impressed. If IMB policy is what this woman claims it is then surely this should be made clear on the application at time of applying. Not post application after tearing everything up, altering every financial number to fit a different agenda and making it impossible to qualify for a loan I can pay within 2 years without any issue. I don't actually need the loan. I have enough from the sale of my previous car to pay cash for the new car. I was only trying to save money on a loan I already have. However apparently reducing my overall commitments is not responsible banking? Apparently reducing my payment amount over the loan term is not responsible banking?

    Price
    8 / 10
    Features
    8 / 10
    Customer service
    1 / 10
    Convenience
    5 / 10
    Trust
    1 / 10
    Less
    David, Western Australia, reviewed 3 months ago
  • Commonwealth Bank Car Loan review

    Overall rating   4 / 10
    Read the fine print and make sure you arent rorted

    Ripped me off by overcharging me for insurance and ONLY paid it back once they were caught out by the royal commission!

    Price
    4 / 10
    Features
    1 / 10
    Customer service
    1 / 10
    Convenience
    10 / 10
    Trust
    1 / 10
    Less
    Tobias, Queensland, reviewed 3 months ago
  • St.George Secured Personal Loan (Fixed) review

    Overall rating   10 / 10
    A compassionate, ethical and reliable bank.

    A few years ago I took out a car loan with St George. A few years in I lost my job and found it difficult to make repayments. Rather than contacting and threatening me, St George took the time to understand me and presented me with some options. The customer service was exceptional and they really took their time to understand my situation. I was treated respectfully and with dignity at all times and they worked hard to resolve the situation with me. I can't recommend St George more highly. If you're looking for an ethical bank that cares about their customers, then I highly recommend St George.

    Price
    8 / 10
    Features
    9 / 10
    Customer service
    10 / 10
    Convenience
    7 / 10
    Trust
    10 / 10
    Less
    Nick, Victoria, reviewed 3 months ago
  • Liberty Drive Car Loan (Variable, Secured) review

    Overall rating   1 / 10
    Unhelpful

    This company is unethical and unprofessional. We had a car written off in a hail storm and they charged $3000 to get out of contract.

    Price
    1 / 10
    Features
    1 / 10
    Convenience
    1 / 10
    Less
    Pole, New South Wales, reviewed 3 months ago
  • Macquarie Credit Union New Car Loan (less than 2 years old, Variable, Secured) review

    Overall rating   7 / 10
    Simple and quick response.

    Quick loan easily achieved.

    Price
    8 / 10
    Features
    7 / 10
    Trust
    8 / 10
    Less
    Nik, Western Australia, reviewed 3 months ago
  • Toyota Finance Car Loan review

    Overall rating   9 / 10
    A happy customer

    I’ve been with Toyota finance for 4 years and very pleased with the service. They have been understanding and accommodating in financial difficulties. Couldn’t be happier.

    Price
    9 / 10
    Features
    7 / 10
    Customer service
    10 / 10
    Convenience
    10 / 10
    Trust
    10 / 10
    Less
    Samiye, Victoria, reviewed 3 months ago
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    Car loan comparisons on Mozo - rates updated daily

    • New Car Loan

      Interest rate
      4.67% p.a.
      comparison rate
      5.22% p.a.based on $30,000
      over 5 years

      Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 4.67% would cost $34,096.76 including fees.

      Promoted
    • Secured Car Loan

      Interest rate
      4.74% p.a.to 16.01% p.a.
      comparison rate
      5.01% p.a.to 16.31% p.a.based on $30,000
      over 5 years

      Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.74% would cost $33,949.23 including fees.

      Promoted
    • No Fee Secured Car Loan

      Interest rate
      4.45% p.a.to 15.45% p.a.
      comparison rate
      4.45% p.a.to 15.45% p.a.based on $30,000
      over 5 years

      Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 4.45% would cost $33,516.53 including fees.

      Promoted
    • Car Loan

      Interest rate
      4.89% p.a.to 8.89% p.a.
      comparison rate
      5.44% p.a.to 9.46% p.a.based on $30,000
      over 5 years

      Terms from 3 to 7 years. Representative example: a 5 year $30,000 loan at 4.89% would cost $34,276.58 including fees.

      Promoted
    • Car Loan

      Interest rate
      5.35% p.a.
      comparison rate
      5.65% p.a.based on $30,000
      over 5 years

      Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.35% would cost $34,507.61 including fees.

      Promoted

    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.

    Want more? Compare all 204 car loans in the Mozo comparison engine.

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