Personal Car Loans

We can help with a wide range of car and vehicle finance options for personal and commercial needs. This may include:

• New vehicle loans for drivers purchasing a new car
• Used car finance for pre-owned vehicles
• Pre-approval car loans so you can shop with a clearer budget
• Green car loans for eligible low-emission or electric vehicles
• Business car loans for vehicles used mainly for work
• Other vehicle finance options, including commercial loans, boat loans and caravan loans

Loan availability will depend on the asset, how it will be used, your financial position and lender criteria.

A secured car loan uses the vehicle as security for the loan. Because the finance is tied to the asset being purchased, lenders may offer more competitive rates than some unsecured options. Secured loans are commonly used for new and used cars, provided the vehicle meets the lender’s requirements. An unsecured car loan does not use the vehicle as security. This can suit some borrowers who want flexibility, but rates may be higher because the lender takes on more risk. Approval will depend on income, credit history, existing debts and overall financial circumstances.

No. We start with a soft credit check that doesn’t affect your credit score. Your credit file is only affected when an application is submitted to a lender, and we only apply to the lender whose criteria best match your situation.

Not always. Some lenders don’t need a deposit, while others may ask for one depending on your situation, the car and the loan amount. We’ll tell you up front.

Yes. Lenders usually ask for the seller’s details and the vehicle details, such as rego and VIN, plus a quick e-inspection done through a third party like Verimoto or Redbook. The seller gets an SMS and email and takes photos of the vehicle to confirm it. We also run a PPSR check to make sure there’s no money owing on it. Auctions are usually treated like a dealer purchase. See how private sale and auction finance works.

Yes. Buying a car for personal use is a personal (consumer) loan, so there’s no ABN or business-use requirement. Lenders have their own criteria: they usually look at your payslips, your employment and your living expenses. We start with a soft credit check and only apply to the lender whose criteria best match you.

Yes, if you have an ABN and the car will be used at least 50% for your business. With some lenders you can apply with an ABN from 3 months, depending on your circumstances. With a low doc loan you don’t need to provide tax returns or financials. Lenders still check your ABN, ID and credit history, and some may ask for a deposit.

It may still be possible. Banks have one set of rules, and our panel of 49+ lenders includes lenders with different criteria. We look at your income, the car and your history first, and only apply where your situation fits. Approval is subject to lender criteria.

A comparison rate combines a loan’s interest rate with most of its standard fees and charges in one percentage, so you can compare the overall cost of different loans. Lenders must show it next to an advertised interest rate. It’s based on a set loan amount and term, so your own costs may differ, and some fees, such as government charges, aren’t included.

It depends on the car and your situation. A car loan is usually secured by the car, which some lenders reflect in the rate. A personal loan is often unsecured and can be used for more than the car. We’ll explain the difference in cost before you decide.