Variable Rate Car Loans

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Variable Rate Car Loans

If you’ve landed on our variable rates car loans page then you’ll be glad you did. Here you can search and compare a vast range of Australian car loans by comparing variable interest rates, calculating your car loans repayments and review fees and features.

Variable rate car loans are an attractive option to borrowers for two significant reasons – interest rates and flexibility.

But before you rush off and sign up for a variable rate car loan you do need to be mindful of the variable aspect, because unlike a locked in fixed rate, variable rates are governed by the Reserve Bank cash rate and your lender so if there is a rate rise, it’s more than likely your lender will pass this onto you, increasing your interest rate and repayments.

On the flip side, if interest rates fall you may benefit from lower rates and repayments, which fixed rate borrowers won’t benefit from.

Another thing to consider is that variable rates are, in general, lower than fixed rates and will usually offer you more flexibility in terms of making extra repayments or paying off your loan sooner, usually without incurring hefty early payout penalties. As paying off your loan sooner could mean shaving thousands off your loan, it’s worth looking into this.

The question you need to ask yourself is, how flexible can you afford to be? If you are happy and able to follow the rise and fall of interest rates in exchange for cheaper overall interest rates then perhaps this is an option for you. Alternatively, if you want the stability of knowing what your repayments will be for the entire length of your loan, then perhaps a fixed rate is a better match.

Pick up those wheels sooner by comparing a great range of Australian variable rate car loans below.

Updating your preferences
We found 33 products that match your search

Show: 10 25 All Results

Company Product Advertised Rate Comparison Rate Application Fees Monthly Repayment Go To Site
Select up to 3 products to compare
360 Finance Advantage Car Loan 6.33% Fixed 7.32% $399 $590.60 Go to Site
bankmecu goGreen Car- Fixed- ANCAP5+/ GHSE7+ 7.34% Fixed 7.55% $150 $598.87 Go to Site
IMB Car Loan (New) 7.33% Fixed 7.58% $175 $598.72 Go to Site
NRMA Car Loans Secured Car Loan 7.25% Fixed 7.76% $357.90 $597.59 Go to Site
RACQ New Car Loan 7.25% Fixed 7.76% $357.90 $597.59 Go to Site
RACV Car Loan 7.25% Fixed 7.76% $357.90 $597.59 Go to Site
Gateway Credit Union New Car Loan 7.69% Variable 7.90% $149 $603.86 Go to Site
bankmecu goGreen Car Loan Fixed =<7 yrs old 7.84% Fixed 8.05% $150 $606 Go to Site
IMB Personal Loan Secured 7.99% Fixed 8.24% $175 $608.15 Go to Site
CUA Vehicles <2yrs old +30k Fixed 7.99% Fixed 8.29% $120 $608.15 Go to Site
bankmecu goGreen Car - Var - ANCAP5+/ GHSE7+ 8.14% Variable 8.35% $150 $610.31 Go to Site
bankmecu goGreen Car Loan Variable =<7Yrs 8.64% Variable 8.85% $150 $617.53 Go to Site
ANZ Online Secured Car Loan 8.69% Fixed 9.54% $350 $623.25 Go to Site
NRMA Car Loans Secured Personal Loan - Used Car 9.45% Fixed 9.97% $357.90 $629.33 Go to Site
RACV Secured Personal Loan 9.45% Fixed 9.97% $357.90 $629.33 Go to Site
RACQ Personal Loan (Secured) 9.95% Fixed 10.47% $357.90 $636.68 Go to Site
St.George Bank Secured Fixed Personal Loan 9.99% Fixed 10.88% $195 $646.27 Go to Site
Westpac Used Car Loan 9.99% Fixed 11.04% $250 $647.27 Go to Site
Westpac New Car Loan 9.99% Fixed 11.04% $250 $647.27 Go to Site
CUA Fixed Personal Loan 11.99% Fixed 12.17% $120 $667.19 Go to Site
CUA Personal Loan Unsecured 12.99% Variable 13.17% $120 $682.44 Go to Site
ME Bank Personal Loan Fxd 12.99% Fixed 13.21% $150 $682.44 Go to Site
NAB Personal Ln Unsec Fixed 12.99% Fixed 13.86% $150 $692.44 Go to Site
NAB Personal Ln Unsec Var 12.99% Variable 13.86% $150 $692.44 Go to Site
Aussie Unsecured Loan 12.99% Fixed 13.94% $199 $692.44 Go to Site

Showing 1 - 25 of 33 results

Show: 10 25 All Results

Data last updated August 22nd, 2014

Monthly repayments are indicative and based on advertised rate, loan amount and selected payment frequency over nominated loan term. Rates shown are minimum available and may vary depending on your individual circumstances and loan amount.

The comparison rate is based on secured credit of $30,000 and a term of 5 years. WARNING: The comparison rate applies only to the example 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. Comparison rates are not calculated for revolving credit products.

Consider whether this general financial advice is right for your personal circumstances. You may need financial advice from a qualified adviser. Read our detailed disclosure here.