Car loans
When purchasing a car there are two types of car loans that you can choose from: a secured car loan or an unsecured car loan.
Secured loans are tied to an asset that you own, providing a safeguard for you and your lender if you're unable to make your repayments. In the case of a secured car loan the security is generally the car. As it is secured there is less risk involved in lending you funds and therefore the interest rate on a secured loan will generally be lower than an unsecured car loan, where no security is required.
Both loans can be used to purchase a car and both types of car loans can be compared on RateCity.com.au
To find out how much you could be saving on your repayments go to our car loan comparison page or use the car loan calculator to find out how much you can borrow and how much you'll need to repay.
Disclaimer
This article is over two years old, last updated on March 19, 2009. While RateCity makes best efforts to update every important article regularly, the information in this piece may not be as relevant as it once was. Alternatively, please consider checking recent car loans articles.
Compare car loans in Australia
6.57%
7.19%
$392
Australian Credit Licence 488228
Fees & charges apply
- $2k to $75k
- 1 to 7 years
- Fixed Rate
- Secured
6.29%
up to 24.99%
7.41%
$389
Australian Credit Licence 511803
Fees & charges apply
- Via broker
- $10k to $300k
- 1 to 7 years
- Fixed Rate
6.49%
6.84%
$391
Australian Credit Licence 244310
Fees & charges apply
- $5k to $100k
- 1 to 7 years
- New or used car
- Fixed Rate
6.57%
7.19%
$392
Australian Credit Licence 488228
Fees & charges apply
- $2k to $75k
- 1 to 7 years
- Fixed Rate
- Secured
6.80%
up to 24.99%
7.56%
$394
Australian Credit Licence 511803
Fees & charges apply
- Via broker
- $10k to $100k
- 1 to 5 years
- Fixed Rate
9.74%
9.95%
$422
Australian Credit Licence 238293
Fees & charges apply
- $3k to $50k
- 1 to 5 years
- Variable Rate
- Secured
10.50%
10.54%
$430
Australian Credit Licence 240807
Fees & charges apply
- $1k to $75k
- 0 to 10 years
- Variable Rate
- Secured
5.99%
up to 12.99%
7.20%
$387
Australian Credit Licence 233714
Fees & charges apply
Hybrid and Electric Car Loan
- $10k to $100k
- 1 to 7 years
- New or used car
- Fixed Rate
Product database updated 20 May, 2024
Fact Checked
