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Pros and cons

  • Option for balloon payment
  • Discount for environmentally friendly cars
  • Loans for new and used cars available
  • Establishment fee charged
  • No branches

New Car Loan interest rates


Loan typeRate
Green Car Loan (Variable)
3.14% p.a.
3.68% p.a. Comparison rate
New - Prime Special (Variable)
(Min Equifax Score - 500)
3.24% p.a.
3.78% p.a. Comparison rate
Green Car Loan (Fixed)
4.89% p.a.
5.44% p.a. Comparison rate
New - Prime Special (Fixed)
(Min Equifax Score - 500)
5.09% p.a.
5.64% p.a. Comparison rate

Used Car Loan interest rates


Loan typeRate
Used Car Loan (< 5 years, Dealer Only) (Variable)
3.84% p.a.
4.38% p.a. Comparison rate
Used Car Loan (6-7 years, Dealer Only) (Variable)
4.54% p.a.
5.08% p.a. Comparison rate
Used Car Loan (< 5 years, Dealer Only) (Fixed)
5.59% p.a.
6.14% p.a. Comparison rate
Used Car Loan (6-7 years) (Fixed) (Max car age, Loan term below 5 years)
6.29% p.a.
6.84% p.a. Comparison rate
Used Car Loan (8-12 years, Dealer Only) (Variable)
8.44% p.a.
9.01% p.a. Comparison rate
Used Car Loan (Fixed) (8+ years, Dealer Only) (Max car age, Loan term below 5 years)
10.19% p.a.
10.76% p.a. Comparison rate

Car loan repayment calculator

Thinking about taking out a car loan with loans.com.au? Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how loans.com.au car loans compare with other options.

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Your estimated repayment

at interest rate 3.14 %

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loans.com.au top car loans products

Features of a loans.com.au car loan

loans.com.au provides secured car loans suitable for everyday car purchasers looking for new and used vehicles. You can borrow between $5,000 and $100,000 and pay it off over a loan term of three, four or five years.

loans.com.au charges a one-off establishment fee on its car loans but does not charge ongoing fees. Keep in mind you may be penalised if you pay off your loan early prior to the last 12 months of the loan term.

Borrowers can choose to reduce their regular repayments by paying a one-off lump sum at the end of the loan. This is known as a ‘balloon payment’.

This lender may personalise its car loan rates according to the car, vehicle age and model. But as it is an online-only lender, its rates tend to be low compared with the rest of the market.

loans.com.au car loans – customer service

Customers can contact loans.com.au by phone, online enquiry, live chat and email. Its phone line is in operation from 7am to 7pm (AEST) on weekdays. Live chat is available seven days a week between 7am and 1am.

Who is eligible for a loans.com.au car loan?

  • Must be over the age of 18.
  • Must be a permanent resident of Australia.
  • Vehicle must be no older than seven years.
  • Vehicle must be purchased through a dealership.
  • Self-employed borrowers generally need to have run their business for two years.

How to apply for a loans.com.au car loan?

You can get an indicative quote from loans.com.au and apply for a car loan with them through their website. Applications may be processed in as little as 24 hours.

  1. Go to the car loans section of loans.com.au.
  2. Select your preferred loan term and indicative rate. Hit ‘Apply now’.
  3. Fill in and submit the application form.
  4. You can then book a phone appointment with a lending manager to review and lodge the application.

loans.com.au car loans review

loans.com.au provides borrowers a range of fixed and variable rate car loans. Borrowers may not find loans.com.au suitable if they require face-to-face customer service, as this lender has no branches and is online-only. 

Customers can borrow between $5,000 and $100,000, on loan terms of three, four or five years.

loans.com.au charges a one-off setup fee and no monthly fees. However, customers may be penalised if they end their loan early.

As loans.com.au does not have the same large overheads as a big bank, it is able to offer reasonable car loan interest rates, typically below the market average. The interest rate you can get at loans.com.au may vary, according to the vehicle itself.

It is generally advised that borrowers compare interest rates, fees and features from different lenders before signing up for a car loan.

Learn more about car loans

What is an unsecured car loan?

An unsecured car loan is a loan that is not connected to a form of security, or collateral. Not all lenders provide unsecured car loans – and if they do, they generally charge higher interest rates for their unsecured car loans than their secured car loans.

Can I get a no credit check car loan?

You may be able to get a no credit check car loan in certain circumstances, although it’s important to weigh up your options before doing so.

Most lenders refuse to provide no credit check car loans, because they don’t want to give loans to borrowers without first confirming that they have a track record of repaying debts. So any lenders that do provide no credit check car loans would take measures to protect themselves against the risk of default.

That’s why no credit check car loans have higher interest rates than other car loans. Also, borrowers often have to provide security and put down a larger deposit.

Where can I find lenders who offer no credit check car loans?

You can find lenders who offer no credit check car loans through comparison sites like RateCity or by doing an online search.

One thing to bear in mind is that lenders who offer no credit check car loans are likely to charge higher interest rates and higher fees than on car loans that include a credit check. Also, lenders who no credit check car loans might expect you to pay a higher deposit. You might also be expected to provide security.

Lenders regard no credit check car loans as riskier than other car loans, which is why it’s a niche product that often features special conditions.

What is a guarantor on a car loan?

A guarantor on a car loan is a third party, usually a relative or friend, who guarantees to meet the repayments of a loan for the purchase of a car, if the borrower/owner of the car defaults on the loan.

Guarantor car loans can be useful for people who would otherwise struggle in being accepted for credit to purchase a vehicle. These may include people with bad credit, students and young people who may have no credit history, as well as some pensioners.

Many lenders offer guarantor car loans, guarantor personal loans and guarantor home loans, because of the significantly reduced risk to the lender.

Where can I get a student car loan?

Student car loans are not a necessarily a product in and of themselves, but what you may be looking for is a guarantor car loan.

A guarantor car loan has a third-party act as a form of guarantee for your loan application, telling the bank or lender that if you default on your loan, someone will pay the loan repayments.

Going guarantor on a car loan is no new thing, and before internet-based credit scores, guarantor car loan applicants would apply for loans with a guarantor or property owner who could vouch for the person borrowing the loan.

To get a guarantor car loan, you’ll need someone willing to act as a guarantor for your car loan.

Where can I find lenders who offer no credit check car loans?

There are companies that claim to offer no credit check car loans. However, you may find that companies that offer no credit check car loans have high fees and high interest rates.

You might be better off finding a specialist lender who will look at your credit history and income, who will decide whether or not you are able to responsibility pay back the loan. Alternatively, you could contact a car finance broker.

Who provides bad credit car loans?

Lenders that provide bad credit car loans tend to be smaller challenger lenders rather than the bigger banks.

Bad credit car loans are a niche product. The bigger banks tend to focus on mainstream car loan finance for borrowers with better credit histories. That’s why smaller lenders tend to be the ones that provide bad credit car loans.

Bad credit car loans can have high interest rates and fees, so it’s important to compare options before submitting an application.

Where can I get a guarantor car loan?

There are multiple lenders who are willing to provide loans secured by guarantors.

If someone is willing to go guarantor for you and they meet the requirements set out by lenders, you can apply for guarantor finance online, over the phone, or in person.

Some banks also provide guarantor car loans, though because they’re larger banks, they may have higher interest rates than smaller lenders.

You may want to compare guarantor car loans at RateCity, and find a guarantor car loan ideal for your purposes.

Can I get a car loan with bad credit?

Yes, you can get a car loan with bad credit, although you’ll probably find the process trickier and dearer than that experienced by people who have good credit histories.

You can find a number of lenders that specialise in bad credit car loans. However, make sure you compare bad credit car loans before you sign on the dotted line, because not all car loans are alike and having bad credit may mean you are more likely to be hit with higher fees and interest rates.

If you have bad credit, it’s important not to take out a car loan unless you can afford the repayments because a default could further damage your credit rating. Conversely, if you make all the repayments and repay the loan successfully, your credit rating might improve.

What are the pros and cons of guarantor car loans?

Like all things, there are positives and negatives to guarantor car loans, though one may outweigh the other depending on your needs.

Guarantor car loan pros may include that you’re more likely to be approved for a long if you have no credit or a history with bad credit, that you’re more likely to secure a car loan with a lower interest rate, and that because your guarantor car loan is based on a relationship, you will be more inclined to meet your repayment schedule.

However, there are negatives, as well. Guarantor car loan cons may include leaving a detrimental mark on a personal relationship with added strain if you don’t meet your repayments, and you may take out a loan that you can’t actually afford.

Weighing these pros and cons will give you a greater understanding of whether a guarantor loan is ideal for your circumstances.

Can you get a chattel mortgage with bad credit?

Getting approval for a chattel mortgage with bad credit may be possible, given ‘chattel’ (usually a piece of equipment or car) is put up as security for the loan. That means if you fail to repay the loan, the creditor can recover the loaned amount by repossessing and selling the car or piece of equipment. This differs from unsecured car loans, where the asset is not tied to the loan and cannot be taken if you don’t meet the repayments. 

How to get a chattel mortgage?

Both businesses and individuals may use a chattel mortgage, provided that the car is being used predominantly for business purposes. 

To apply for a chattel mortgage, you need to first consider your options and choose a suitable lender that meets your requirements. Once you have selected a lender, you can apply for the loan online by filling out a form. If the lender doesn’t offer an online application process, you can either call them or visit their nearest branch. 

After you’ve applied, the lender will ask you to supply documents that confirm your identification, income, job profile, etc. If everything is in order, most lenders will arrange the loan’s settlement, so all you need to do is pick up your car!

What is a bad credit car loan?

A bad credit car loan is a car loan for borrowers who have ‘bad credit’ or a bad credit history.

Some lenders refuse to offer bad credit car loans, because they believe there is an excessive risk that bad credit borrowers will not repay their loans. However, other lenders are willing to provide bad credit car loans.

Generally, these lenders charge higher interest rates for bad credit car loans than ‘prime’ car loans, reflecting the higher level of risk. Bad credit car loans may also have higher fees than prime car loans.

However, the big advantage of a bad credit car loan is that it allows borrowers with bad credit to access finance. Another advantage is that it could help bad credit borrowers improve their credit rating, assuming they make all their repayments on time.

What is a guarantor car loan?

A guarantor car loan is a type of loan that features a guarantor on the agreement. The guarantor is a third-party individual, often a friend or relative, who guarantees the loan will be repaid if the borrower defaults on the car loan.

Guarantor car loans are often geared at people who might otherwise struggle being accepted for a secured car loan when purchasing a vehicle. Some of the reasons might include a lack of credit history such as with a student or young person, if there’s bad credit, or age as a factor such as with pensioners.

Do I need good credit to get a car loan?

You don’t need good credit to get a car loan, although the worse your credit history, the harder and more expensive it’s likely to be.

Some lenders will do business only with borrowers who have good credit. However, there are other lenders that are willing to offer car loans to borrowers who don’t have good credit. The catch, though, is that they may charge higher interest rates and fees, and also require more paperwork.

If you don’t have good credit and want a car loan immediately, you can search for lenders that work with bad credit borrowers. If you are able to wait, you can work to improve your credit score and then apply for a car loan once you have good credit.