Compare Subaru financing options
Find a car loan for your new Subaru by searching across one of Australia's biggest databases. Compare interest rates, fees and features to find a Subaru finance option that's right for you.
Car Loan (New and dealer used)
A low fixed rate and fast approval. Get your motor running with our super-low interest rate car loans.
Gold Award Winner 2021
Drive away with a new set of wheels, without forking out ongoing fees.
$5k to $100k
Drive away with a new set of wheels, without forking out ongoing fees.
Winner of Best New Car Loans, RateCity Gold Awards 2021
$5k to $63k
Tech-savvy car buyers can apply for this digital lender online, and pay no ongoing fees or early repayment fees.
$10k to $100k
Lock in a competitive interest rate and no ongoing fees with this secured car loan available for new and demo vehicles.
$10k to $150k
Enjoy the freedom of choosing a new or used car, as well as the certainty of a fixed-rate car loan.
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There’s a reason Subaru has such loyal followers. The Japanese manufacturer has a good reputation for its reliability and performance as well as its all-wheel-drive vehicles.
If you're in the market for a new Subaru, it may be time to think about what financing options might be available to you.
What car models are offered by Subaru?
Subaru offers a wide range of vehicles, including SUVs, hatchbacks, sedans and performance models. It's a popular brand amongst buyers who are drawn to its signature drive train engine, all-wheel capabilities and affordable sports car range.
Subaru has a competitive selection of affordable to mid-range priced cars that would suit most budgets for new or used cars. Aussie buyers can choose from a range of city-friendly Subaru models, such as the Impreza, through to its all-wheel Outback made for weekend living.
Popular models include:
- Impreza (from $26,640) - a sedan or hatchback ideal for city living
- XV (from $34,009) - a compact SUV built for city streets or the outdoors
- Forester (from $39,838) - a small SUV made with the family in mind
- Liberty (from $42,672) - a medium-sized sedan with an extensive suite of driver-aid tech
- Outback (from $44,782) - an SUV built for everyday adventures with high-tech safety features
- WRX (from $45,648) - a turbocharged performance vehicle with all-wheel drive
Subaru currently has over 115 vehicle sales dealerships across the country. Subaru Australia made exclusively all-wheel-drive makes from 1998, but now include a rear-wheel drive make.
How can I get a Subaru car loan?
If you’re looking for car loan financing for a new or used Subaru, there are a few options. Firstly, however, you should keep in mind that the most suitable Subaru car loan option for someone else may not be what’s best for you. Assess your financial situation and budget before taking out any car loan to ensure you can make any loan repayments and manage potential fees.
Your local Subaru dealer will have an in-house finance offering to help you organise a car loan. However, be mindful of higher than average interest rates and fees that often come with this option.
Other finance options include:
- Financial comparison websites – Filter through competitive rate car loan options and explore features and fees at RateCity to minimise the hassle of shopping around.
- Car finance broker – Car loan brokers can take the guesswork out of finding the most suitable secured or unsecured new or used car loan.
- Direct-to-lender – This simply means applying directly with an Australian car loan lender, such as a bank or credit union.
How do I compare Subaru car finance?
Interest rate - It's not a bad idea to begin your car loan search by comparing interest rates on different loan products, but be sure to also factor in fees for a more comprehensive understanding of the overall cost of the loan.
Comparison rate - Consider also taking note of a loan's comparison rate, as it represents the interest rate plus any main fees.
Fixed rate vs variable rate - The interest rate on a fixed rate car loan can provide certainty, as it will remain the same throughout the duration of the loan. In contrast, variable rates can fluctuate with the market, which will need to be factored into your budget.
Loan term - A longer loan term will generally mean lower monthly repayments than a shorter term, but more money spent on interest charges over the life of the loan. Keep this in mind when deciding what's right for you.
Fees - Some of the various fees you may be charged include application fees, establishment fees, extra repayment fees, early repayment fees and other ongoing fees.
Features - It's important to check if the loan product you're considering offers the features you are looking for. You may want the flexibility to make extra repayments when you have some cash spare, so if this is important to you, be sure to choose a loan that offers unlimited extra repayments.
How much does Subaru finance cost?
If you know which Subaru model you want to buy, it's likely you'll have an idea of how much it might cost you. Next, it's time to consider finance costs.
You might like to consider using RateCity's car loan calculator to get a repayment estimate, and determine whether it will fit comfortably within your budget. The calculator can tell how how much your repayments might be, depending on your preferred loan amount, interest rate, loan term and credit score. It can also calculate the total interest payable over the life of the loan, as well as the total cost of the loan.
Before you submit a car loan application for your new car, it's important to check the eligibility criteria and read the product disclosure statement of your preferred loan product including any disclaimers that may be listed.
Georgia Brown is a journalist and content writer for RateCity. Before venturing into the world of personal finance, she worked as a reporter for realestate.com.au and Smart Property Investment. She now works truly amongst personal finance, while also writing about other areas, such as sustainable finance and super.
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Frequently asked questions
How to find a great car loan
Historically, finding a great car loan would require excess research ranging from visiting an excess of websites or making phone calls, but technology has moved on. Using RateCity, Australia’s leading financial comparison service, you can check out great deals from a range of lenders on the one site.
To start, select the amount you want to borrow and the length of the loan, narrowing your search to show just fixed or variable interest rate results.
Once you’ve indicated your search criteria, you’ll see an immediate list of lenders, ranked by interest rate or application fees. You’ll also be able to view the monthly repayment amount for each result, helping you to know what you can afford.
Up to six products can be compared side-by-side, complete with more information about each car loan, giving you more information about your options.
When comparing your car loan options, it’s ideal to keep in mind some points find a great car loan for your needs. Consider the following:
- Choosing a low interest car loan can reduce costs
- Selecting an option with low fees and charges is ideal, because these can really add up
- Be aware of penalties, such as early exit penalties if you pay off the loan sooner than expected
- Consider the features that best suit your situation
There are many ways to ensure that you get a great car loan. Ultimately, you’ll end up with the best deal by doing your research and selecting the most suitable product for you.
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.
What is a secured car loan?
A secured car loan is a loan that is connected to a form of security, or collateral. Generally, the security for a car loan is the car itself. If you fail to repay the loan, the lender might seize your car, sell it and then use the proceeds to recover their debt.
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.
How do you get a car loan?
There are four different ways you can get a car loan. You can go straight to a lender. You can get a finance broker to organise a car loan for you. You can get ‘dealer finance’ – which is when the car dealer organises a car loan for you. Or you can organise your own car loan through a comparison website, like RateCity.
Whichever method you choose, you will need to provide proof of identification, proof of income and proof of savings. So you may be asked for any combination of passport, driver’s licence, bank statements, payslips, tax returns and utility bills. You might also be asked to provide proof of insurance.
What is a loan term?
The loan term is the amount of time the lender gives you to repay the car loan. For example, if you take out a $20,000 car loan with a five-year loan term, you would be expected to pay off the entire $20,000 (plus interest) within five years.
What are loan repayments?
Loan repayments are the regular payments you make to pay off your car loan. Loan repayments generally occur on a monthly basis, although many lenders will also give you the option of making fortnightly or weekly loan repayments.
Can I get a discounted student car loan?
Being a student is tough enough, and while you might find the odd student discount on movies and technology, the same can’t be said about car loans, as you can’t really get a discounted student car loan.
Lenders make money on the interest and fees that they charge with loans, and the lowest interest and fees are given to the most reliable credit holders: people with excellent credit history.
As a student, you are unlikely to have enough on your credit report to warrant an excellent history. There are however, ways of getting a lower interest car loan if you can’t get an interest-free loan from the bank of mum and dad. One way of doing this may be through getting a guarantor car loan, which can get you a secured car loan by setting your parents up as guarantors.
What is the role of a guarantor on a car loan?
The role of a guarantor on a car loan is to meet repayments if the borrower of the loan were to default for any reason, such as not being able to afford it.
Useful for loan applicants with poor or bad credit, a guarantor makes it possible for these loans to be made secure, because there’s less risk for a lender overall.
Companies will likely give fair warning before they charge a guarantor for the costs of the loan, or before they repossess anything of the guarantor’s that may have been used as security. Still, it is important for a car loan guarantor to fully understand their responsibilities before they commit to the transaction.
Can I get a car loan with poor credit?
Poor credit doesn’t necessarily mean you won’t be able to get finance for your car purchase, though your options aren’t likely to be the same as someone with good credit.
In fact, a number of specialist lenders exist offering car finance for customers with poor credit, able to provide access to bad credit car loans.
However having a history of poor credit will likely mark you as a potential risk to lenders, so your car financing needs could see higher fees and interest rates. Alternatively, consider a secured car loan, which is a type of loan that uses the car you purchase as collateral, reducing the risk.
Other options include getting someone close to act as a guarantor for your car loan, or to talk to a broker about a personalised rate specific to your circumstances.
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.
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!
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.
What is a CHP?
A CHP, or commercial hire purchase, is an arrangement by which a finance company buys a car on your behalf. You get to borrow the car in return for making regular payments to the financier. Once the final payment is made, you take ownership of the car.
What is a pink slip?
A pink slip is another name for the safety check that needs to be done before a car owner can renew the vehicle’s registration.
What is a fixed-rate loan?
A fixed-rate loan is one where the interest rate remains constant for an agreed amount of time. For example, if you take out a five-year fixed-rate loan at 8.75 per cent, the lender is obliged to leave your interest rate at 8.75 per cent for at least five years. By contrast, if you take out a variable-rate loan at 8.75 per cent, the lender can change the interest rate whenever it wants.
What is a balloon payment?
Some lenders will offer borrowers reduced monthly repayments in return for a one-off lump sum – or balloon payment – that the borrower has to pay at the end of the loan. Generally, the total repayments on a loan with a balloon structure will be higher than a loan without.
What is a car loan calculator?
A car loan calculator is an online tool that helps consumers understand how much they would have to repay under different scenarios. Consumers can create these different scenarios by entering different borrowing amounts, interest rates, loan terms and repayment schedules into the car loan calculator.
What is trade-in value?
The trade-in value is the price you could realistically charge if you were to sell your car to a dealer while buying a replacement vehicle. Generally, a car’s trade-in value is less than its market value. That’s because the dealer has no interest in buying your car unless it can make a profit – which can only be done if the dealer has room to increase the price.