How to choose a car loan

When choosing a car loan there are a few things you need to ask yourself:

  1. How much would you like to borrow?
  2. What is the age of the car? If it is a new car you will have to choose a new car loan, or if it much older you may have to look at applying for a used car loan; and
  3. Over how many years would you like to take to pay the loan back?

Once you have this information you are ready to compare car loans by looking at loans with the lowest interest rates and fees. To own your dream car sooner, start comparing new and used car loans on our car loan home page today. Another great way to start is to use RateCity's car loan calculator. This allows you to put all your information in and then helps you better understand the fees, charges and repayments for your loan amount and length. has written a comprehensive Car Loan Guide which gives you a good overview of all the steps which you should take if you are interested in applying for a car loan. You can also visit our car loans page for a more detailed search to help you compare car loans and save time and money.

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.