Low rate Car Loans

Greater Flexibility • Ideal for older vehicles • 1-7 year terms

An unsecured car loan is finance that can be provided to purchase a new, near new or used car without the car being held as security in the unlikely event of payment default.

Also known as a personal loan, unsecured car loans offer a greater level of flexibility than other loan types, however, as the lender’s risk is slightly higher by not having any security over the loan, the interest rates offered can be a little higher.

An unsecured car loan is ideal for purchasing older, niche or unique cars or if you simply want the freedom to sell your car down the track without impacting on your finance arrangements. It can be a good option for those wanting a car loan, but who don’t have collateral to be used as security.

Learn more about unsecured car loans by speaking with one of our Finance Specialists who can help find the right car loan for you, and the best car loan rates.

Lowest rates • Tax effective • Low Doc • 1-7 year terms

A commercial or business car loan is used for the specific purpose of purchasing a vehicle or fleet of vehicles for business.

Commercial loans can offer some of the most competitive rates and repayments compared to other loan types and can provide a tax advantage and allow you to claim GST and depreciation. A Business car loan is a great option for any sized business with flexible repayment terms to suit business cashflow or accounting structures.

Learn more about our business car finance solutions or speak to one of our commercial Finance Specialists to discuss the options available.

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We'll find your ideal car and your best finance.

Finding the right car and finance to suit your needs can be extremely time consuming, but that’s where we can help!

Our 'Find & Finance' service can help you find your next car, with your lowest rate car finance to suit your budget and lifestyle.

Our procurement team works with a national network of over 180 dealerships and can source your dream car, negotiate the price on your behalf and get the best price for your trade-in - all at no cost to you!

Learn more about our Find & Finance service via the link below.

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How do car loans work?

A car loan is a type of personal loan for the specific purpose of buying a new or used vehicle including sedans, SUV’s, utes and even sportscars (often referred to as a “secured loan”).

When you take out a car loan, you borrow an agreed amount of money (loan amount) from a financier (lender) for a set period of time (loan term) that you agree to repay in weekly, fortnightly or monthly repayments.

Loan repayments are calculated based on paying back the amount borrowed, interest on the loan and any fees charged. The interest rate you pay is largely determined by the lender based on a number of factors including the age and value of the car you are seeking to buy, the lenders criteria; and your credit profile/credit score.

Car Finance is generally available as either a secured loan or an unsecured loan. This will depend on if you agree to use the car you are buying as security on the loan, which is the usual arrangement.

If you do put your car up as security on the loan, it reduces the risk to the lender in the event you are unable to meet your repayments or financial commitments of the loan. This reduced risk to the lender often means they can offer a lower interest rate or more favourable terms.

Generally, a secured loan is only available up to the value of the car. An unsecured car loan however, does not use an asset (ie car) as security, and therefore the risk to the lender is greater and the interest rate often higher.

What are the minimum or maximum I can borrow with a car loan?

There is no ‘set-in-stone’ limit for how much you can borrow with a car loan. Each financier (or lender) has different minimum and maximum loan amounts, but mostly the limit is determined on a case-by-case basis depending on your choice of car, type of loan and your financial circumstances.

As a general guide, many Australian lenders have a minimum borrowing amount of $5,000 or $10,000.

In some cases, you may not be able to borrow the full amount of the vehicles purchase price, but will be required to provide a portion of the car price via a deposit (or down payment). For Secured Loans, you generally cannot borrow more than the total value of the asset used as security on the loan.

How do I take out a car loan?

The first stage of the car loan process is to find out how much you can borrow, what you can afford and if this provides the funds your need to purchase your ideal car. An online Car Loan Calculator can give you a quick idea of what loan repayments might be or how much you may be able to borrow based on your weekly budget.

The next step is to contact a finance specialist who will quickly assess your basic information and financial circumstances before arranging finance pre-approval on your behalf.

Once you are happy with the proposed loan structure (term, amount, interest rate etc) your application will be submitted to the selected leader for Settlement of the Loan. When the loan ‘Settles’ the money will be transferred to the vehicle seller (private or dealership) and the car is yours!