Compare Car Loans from 20+ Lenders. New, Used & Electric Vehicles.

A car loan is a secured or unsecured personal loan used to purchase a vehicle. In 2026, Australian car loans typically range from $5,000 to $100,000 over 1-7 year terms. Most car loans are secured, meaning the vehicle serves as collateral until the loan is fully repaid.

Most lenders offer car loans from $5,000 to $100,000 depending on income, credit history, and vehicle value. Secured loans may allow higher amounts since the car acts as security. Lenders typically require the loan amount to be no more than the vehicle's market value.

Most car loans don't require a deposit, though putting down 10-20% reduces your loan amount and monthly repayments. A larger deposit may also help you secure a lower interest rate. Some lenders offer 100% financing for new vehicles with strong credit applicants.

Car loan terms in Australia typically range from 1 to 7 years. Shorter terms mean higher repayments but less total interest. A 3-5 year term balances affordable repayments with reasonable total cost. Avoid terms longer than the expected vehicle lifespan.

Yes, most lenders finance private sale purchases. You will need the seller's details, the vehicle's registration number, and a PPSR check to confirm no existing finance. Some lenders require a independent valuation. Settlement may take slightly longer than dealer purchases.

Green car loans offer discounted rates for electric vehicles, plug-in hybrids, and low-emission cars. In 2026, green car loan rates start from 5.49% p.a. compared to 5.54% for standard car loans. Lenders like Plenti, Bank Australia, and RACV offer dedicated green loan products.

Yes, eligible electric vehicles below the luxury car tax threshold ($91,387 in 2026) are exempt from FBT under the Electric Car Discount. This makes novated leasing particularly attractive for EVs, potentially saving employees $5,000-$15,000 per year in pre-tax salary packaging.

In 2026, Plenti, Bank Australia and RACV all lead with competitive green car loans. Most major banks now offer EV discounts of 0.50-1.00% off standard car loan rates. Compare at least 3-4 lenders before committing.

Yes, several lenders including Plenti, Bank Australia, and Macquarie finance used EVs. Vehicle age restrictions still apply, typically under 7-10 years old. Used EV prices have dropped significantly, making them more accessible. Ensure the battery warranty transfers to the new owner.

The FBT exemption applies to eligible electric vehicles with a value at first retail sale below the luxury car tax threshold for fuel-efficient vehicles ($91,387 in 2026). This includes battery EVs and plug-in hybrids. The exemption does not apply to hybrid vehicles without a plug.

In 2026, a good car loan rate is one near the lowest rates on our live CDR feed - currently from 5.54% p.a. for new cars and from 6.39% for used cars with a secured loan. Green car loans can start from 5.49%. Rates depend on credit score, loan amount, vehicle age, and whether the loan is secured or unsecured.

Common car loan fees include establishment fees ($0-$400), monthly account fees ($0-$15), early repayment fees (fixed loans only), and PPSR registration fee ($6.80). Many online lenders offer fee-free car loans. Always compare the comparison rate which includes most fees.

A comparison rate combines the advertised interest rate plus most fees and charges into a single percentage. For car loans, comparison rates are calculated on a $30,000 loan over 5 years. A car loan at 5.99% with fees might have a comparison rate of 6.49%. Always compare using comparison rates.

Dealer finance is typically 2-5% more expensive than arranging your own car loan. Dealers often mark up the lender's rate as commission. A dealer might offer 9.99% when the same lender offers 6.99% directly. Always get pre-approval from an independent lender before visiting the dealership.

A novated lease is a three-way agreement between you, your employer, and a finance company. Your employer makes lease payments from your pre-tax salary, reducing your taxable income. Running costs like fuel, insurance, and servicing can also be included in the package.

Savings depend on your tax bracket and vehicle. A $50,000 EV on a novated lease could save $8,000-$15,000 per year compared to buying outright, thanks to the FBT exemption for EVs under $91,387 in 2026. Higher income earners benefit most from the pre-tax salary sacrifice.

A chattel mortgage is a business car loan where the vehicle is used as security. Unlike a lease, you own the vehicle from day one. ABN holders can claim GST credits on the purchase and depreciation as a tax deduction. Interest payments are also tax-deductible for business use vehicles.

Yes, ABN holders can access car loans, chattel mortgages, and commercial hire purchase agreements. You typically need an ABN registered for 12+ months, recent BAS statements, and business bank statements. Rates for business car loans typically start near secured consumer car loan rates - see the live table above.

Yes, specialist lenders like Pepper Money and Now Finance consider applicants with bad credit, defaults, or low scores. Rates will be higher (9.99-14.99%) and you may need a larger deposit. Secured loans are easier to obtain with bad credit since the vehicle acts as collateral.

A balloon payment is a lump sum due at the end of your car loan term, typically 20-40% of the vehicle's value. It reduces monthly repayments but means you owe a large amount at the end. You can pay it, refinance it, or trade in the vehicle. Total interest paid is usually higher.

Most car loans in Australia are fixed rate, providing certainty over repayments. In 2026, fixed rates start from 5.54% for secured loans. Variable rates offer flexibility for extra repayments but carry the risk of rate increases. Fixed is generally recommended for car loans.

Yes, you can refinance your car loan to a lower rate. This is worthwhile if rates have dropped since you took out the loan or if your credit score has improved. Check for early exit fees on your current loan and ensure the new rate saves more than any fees. The vehicle must still meet age requirements.

A Personal Property Securities Register (PPSR) check costs $2 per search and reveals if a vehicle has existing finance, has been written off, or is stolen. Always run a PPSR check before buying a used car privately. If finance exists, the lender could repossess the vehicle from you even after purchase.

You typically need 100 points of ID (driver's licence, passport), 2-3 recent payslips or tax returns, 90 days of bank statements, vehicle details (make, model, year, price), and the seller's information. Online lenders may use Open Banking to verify income automatically.