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Browse car loans in Perth, WA and calculate repayments from 90+ lenders. Compare car loan interest rates, fees and features to help decide on an option that's right for you.

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Can you get a car loan in Western Australia?

Western Australia is one of the most beautiful areas in Australia to explore and, as our largest state or territory, is admittedly hard to travel through without a car.

Whether you’d like to take a trip from Perth to Broome, visit the wineries in the Margaret River or explore the natural beauty of Ningaloo Reef, it can be a challenge to get around if you don’t have a vehicle. And if you don’t quite have all the funds to purchase your first or next car, motorcycle, or caravan, it may be worth considering taking out a car loan.

Where can you get car finance in Western Australia?

If you’re in the market for a car loan in Western Australia, there are a range of options you may want to consider to help you find your ideal loan.

Generally speaking, most car buyers will look to take out financing with a car loan lender or just fill in a loan application at the dealership. However, by sticking with your childhood bank or just accepting the first loan offered to you when you purchase a vehicle, you may be missing out on hundreds, even thousands of dollars in savings.

That’s because by not doing your research and comparing your car loan options, you may pay more than you otherwise would in ongoing fees and interest rate charges. Using comparison tools, such as those listed below, may be able to help ensure you apply for the best car loan for your financial situation and budget.

Further, if you need some additional help in finding your dream car loan, or for information specific to your personal financial situation (such as finding car loans for bad credit history), consider using a car finance broker or reaching out to a Western Australian financial adviser. A car loan broker may also be able to assist you through the process of gaining car loan pre-approval before you begin shopping around for cars.

How do you compare car loans in Western Australia?

While there's no such thing as the best car loan across the board, RateCity's comparison tools can help you in your search to find the best car loan options for you.

RateCity's car loan comparison table, such as the one on this page, can make your search for finance easier with customisable filters that you can use to narrow down your results. You can search for specific lenders, security type, key features, borrow amount, loan terms and whether you're in the market for a new vehicle or a used vehicle.

Car Loan Repayment Calculators can provide you with a repayment estimate based on the amount you'd like to borrow, the car loan term, your preferred interest rate and your credit rating. A car loan calculator may help you better understand what might work for your budget. Keep in mind that knowing the price of the car you'd like to buy can improve the accuracy of your estimate.

Real Time RatingsTM is another comparison tool that may assist you in creating a short list of car finance options. It is RateCity’s world-first rating system that ranks car loans based on your individual requirements. Each car loan is given a score out of five, based on loan costs and flexibility.

What car loan rates can you get in WA?

You may be wondering if interest rates differ from state-to-state, and what range of car loan rates you may be offered if you apply for a Western Australia-based lender.

However, in Australia the rate you may be offered depends on several personal and loan factors, including your credit history, whether the loan is secured and the interest rate type. The location of the car loan lender should not necessarily impact the interest rate you are offered.

  • Credit history

Your credit report will impact the interest rate you may be offered, as lenders will assess your credit score to determine your likelihood to repay your car loan on time and your overall reliability as a borrower.

Borrowers with an excellent credit score have a higher chance of gaining loan approval, as the higher your credit score, the less risk you pose to the lender. Having a good to excellent credit history may result in the lender offering you a lower interest rate than a car buyer with a bad credit score.

  • Secured vs. Unsecured

Secured car loans are generally more affordable than unsecured car loans. By offering up an asset as collateral on the loan, such as the vehicle itself, there is less risk to the lender that you may default on the loan as you run the risk of having the asset repossessed and sold. Due to this reduced risk, the lender will typically offer you a more competitive interest rate than an unsecured car loan.

  • Interest rate type

You will also need to choose between a fixed rate car loan and a variable rate car loan, which can impact the overall cost of your loan. A fixed rate allows you to lock in the interest rate over the loan term, helping to protect your repayments from any rate fluctuations.

A variable rate loan is subject to market fluctuations, so if your lender cuts interest rates, your monthly repayments will be reduced. However, if they lift rates, your repayments will also go up, so you need to choose carefully between the two options.

  • New vs. used

While a new car may cost you more in terms of the vehicle's value, car loan lenders will typically charge low rates on average for this vehicle type. Used car loans may mean you borrow less from a car loan lender, but again, you may find yourself paying more interest over the life of the loan. Whatever the year of the vehicle, ensure you compare your interest rate options from a range of lenders.

Calculate your potential WA car loan repayments

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Calculate what your repayments could be on your car loan.


What other features should you consider when comparing WA car loans?

With so many car finance options on the market, you might be feeling spoilt for choice. But it's important to compare all aspects of a loan product before making your decision.

Here are some of the most important factors to consider when shopping for vehicle finance in WA:

  • Interest rate: A car loan interest rate is the amount of interest that will be charged on the car loan amount.
  • Comparison rate: The comparison rate combines the loan's interest rate with any upfront or ongoing fees to provide a more accurate depiction of the overall cost of the loan.
  • Fees: The fees charged on a loan product will differ from one to the next. It's important to take note of all the fees payable, as a loan with a lower interest rate and high fees could ultimately be more expensive than a loan with a higher interest rate and low fees.
  • Fixed or variable rate: You will need to compare fixed interest rate and variable interest rate loans to decide what's right for you.
  • Secured or unsecured loan: If the car you want to buy is less than a few years old, you will generally have the option to use it as collateral on a secured car loan to access more competitive rates.
  • Loan term: The loan term is the length of time you will have to pay off the loan amount. Typically, a longer loan term means lower monthly repayments, but more interest charged over the life of the loan. Whereas a shorter loan term likely means more expensive repayments, but less total interest charged.
  • Repayment options: You may want flexible repayment options such as the choice between weekly, fortnightly, or monthly repayments. Or, perhaps you want the option to make extra repayments and/or access to a redraw facility.
  • Lender: Western Australian car dealerships will often have relationships with specific lenders, but it's important to consider whether that lender is the best choice for you. Comparing lenders can give you a better idea of what features suit your needs as a borrower, such as online banking, WA branch access and/or other facilities.

Are there benefits or disadvantages to getting a car loan in Western Australia?

It’s always worth comparing the benefits and risks associated with any financial product before you sign on the dotted line.

Benefits of a WA car loan

  • You gain access to a vehicle so you can more easily travel around Western Australia.
  • Making ongoing repayments over time can be easier for budgeting than saving up and paying a lump sum for a vehicle.

Risks of a WA car loan

  • Ongoing costs, like car insurance, are worth keeping in mind for your budgeting. Western Australia can be impacted by natural disasters, such as cyclones, earthquakes and bushfires. These can severely damage a vehicle and your insurer may not cover the damages. Some insurers also may not cover your vehicle for off-road driving, which is a popular way to travel in Western Australia.
  • You may pay more over the life of the loan in interest and fees than if you were able to save up and pay for the vehicle in full.
This article was reviewed by Personal Finance Editor Georgia Brown before it was published as part of RateCity's Fact Check process.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.