Car Loans in Victoria (VIC) 2026 - Compare Rates & Save

In 2026, car loan rates in Victoria sit around 5.54%-15.00% p.a. for secured loans. RACV offers competitive rates for VIC members. Green car loans for EVs start from 5.49%. Rates depend on credit score, loan amount, vehicle age and whether the loan is secured or unsecured.

Victoria charges motor vehicle duty based on the market value or purchase price. For new vehicles, the rate is $8.40 per $200 (or part thereof) of the market value. For used vehicles purchased from a dealer, it's $8.40 per $200 of the purchase price. For private sales, it's based on the market value determined by VicRoads. A $40,000 car attracts approximately $1,680 in stamp duty.

Victorian car registration costs approximately $850-$950 per year including registration fee, TAC charge (compulsory third-party insurance) and motor vehicle duty. The TAC premium varies by vehicle type and postcode. VicRoads offers quarterly or annual payment options. Zero-emission vehicles attract a $100 annual registration discount.

Yes, Victoria introduced an EV road user charge of 2.8 cents per kilometre for zero-emission vehicles and 2.3 cents for plug-in hybrids. For an average driver covering 13,000km per year, this equates to approximately $364 annually for a BEV. The charge helps fund road infrastructure normally paid via fuel excise.

The average new car price in Melbourne is approximately $44,000-$54,000 in 2026, while used cars average $24,000-$34,000. Popular models include the Toyota Corolla ($28,000-$38,000), Mazda CX-5 ($35,000-$50,000) and Tesla Model Y ($58,000-$72,000). Regional Victoria prices are generally comparable to Melbourne.

Novated leases can save Victorian employees $3,000-$15,000 per year depending on income and vehicle choice. Despite the EV road user charge, the FBT exemption for EVs under $91,387 in 2026 makes novated leasing attractive. Higher income earners in the 37%+ tax bracket benefit most from salary sacrifice.

Yes, most lenders finance private sale purchases in Victoria. You'll need the seller's details, the vehicle's VicRoads registration number, and a PPSR check ($2). Ensure a roadworthy certificate (RWC) has been provided - this is mandatory for private sales in Victoria. Settlement typically takes 1-3 business days.

RACV offers competitive car loan rates for Victorian members as of 20 May 2026. RACV members receive a loyalty discount. They offer both new and used car loans with terms from 1-7 years, redraw facility and no early repayment fees on variable loans.

Victoria offers a $100 annual registration discount for zero-emission vehicles. The federal FBT exemption applies to novated leases on EVs under $91,387. While Victoria previously offered $3,000 EV subsidies, this program has ended. Green car loans from lenders like Plenti and Bank Australia offer discounted rates of 0.50-1.00% off for EV purchases.