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Aussie Car Loan Review

Aussie Car Loan

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Application Fee
$199
Interest Rate (p.a.)
From 6.07% (fixed)
Comparison Rate (p.a.)
7.96%

Summary

Finance your dream car with Aussie and take advantage of the experience of one of Australia's largest mortgage brokers.

An Aussie Car Loan can help you buy your dream car or even the car that you need to travel from one place to another. It's a flexible loan and can be used to buy a new or used caravan, trailer, motorcycle, scooter or boat, and the application can be completed in 15 minutes.

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name Aussie Car Loan
Interest Rate (p.a.) 6.07%
Comp. Rate (p.a.) 7.96%
Interest Rate Type Fixed
Min Loan Amount $3,000

Things to consider

The Aussie Car Loan is a flexible financing option for your next new or used car. You can even bundle your loan with other debts to consolidate and pay them off in one neat package. It is an unsecured loan so your assets are not used for security if you default on the loan, while the fixed rate means your repayments are set for the whole loan term.
Once you have bought your car it's possible to get your comprehensive car insurance through Aussie as well.

Features of the Aussie Car Loan

As mentioned, the Aussie Car Loan is comparatively flexible compared to other car loans. Here's what you can expect from this loan.

  • Loan amount. The minimum amount of loan offered by Aussie Car Loans is $3,000 and the maximum amount that you can borrow depends on your income and ability to manage your repayments.
  • Loan term. The term of loan can range from 1 year to 5 years, giving you the ability to decide on a term that suits you.
  • Flexible repayments. Repayments can be made weekly, fortnightly or monthly by direct debit. This gives you the ability to tailor repayments to what suits your budget.
  • Interest rate. This loan features a competitive fixed rate, currently 6.07% p.a. for the life of the loan.
  • Optional extras. The Aussie Car Loan gives you some options which you can use to make your loan suit you better. If you happen to run into extra money, for example, you can put this towards your loan as a lump sum payment. You may also be able to increase your loan amount, although this is subject to Aussie's lending criteria.

Fees and charges

  • Establishment fee. An establishment fee of $199 is charged for this loan. This amount needs to be paid only once at the time when the loan amount is received.
  • Monthly administration fee. An administration fee of $10 applies and needs to be paid every month.
  • Early termination fee. If you decide to pay your loan earlier than the fixed term or you want to prepay your loan, you'll need to pay an early termination fee. The amount depends on how much you still owe and the time left your term.

How you can apply

If you meet the above criteria and are interested in applying for the Aussie Car Loan, you can do so by clicking "Go to Site". Before you do so, you need to meet the following eligibility criteria.

You must:

  • Be over 18 years of age
  • Be an Australian permanent resident
  • Have consistent paid employment, be working at present and have an annual gross income of above $24,000
  • Not have any defaults on loans or credit cards within the last five years
  • Not have filed for bankruptcy within the last seven years
  • Be out of your probationary period at your work

You'll need to have the following documents on hand:

  • Your current address details as well as your previous address details if you have moved within the last three years
  • Details of your income, savings, expenditure and assets.
  • Your employment details including your employer's address and contact information

Make sure you go through the terms and conditions of the Aussie Car Loan and also understand all the features of this loan before you submit your application.

Remember to always compare car loan options thoroughly before submitting an application in order to find the best possible financial solution for your circumstances.

Compare car loan providers

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Simplify New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
OurMoneyMarket Used Car Loan - No Vehicle Age Limit
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Simplify Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA Used Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
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Dravamp

May 11, 2016

I have been working at my job for 10 months on a casual basis. I am looking to purchase a used car for 8,000 who can I get approval through.


Avatar

Elizabeth Barry Finder

May 11, 2016

Hi Dravamp,


Aussie may consider you for a loan if you’re “currently earning a salary with an annual gross income of more than $24,000 or in regular paid employment where you earn an annual gross income of more than $24,000”. If you meet this criteria, as well as the criteria outlined above, then you can apply.


I hope this has helped.


Thanks,


Elizabeth


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Daryn

December 14, 2015

I have been previously bankrupt in 2007. I have been self employed as a Taxi driver for the past ten years and have a $4000 deposit for a 2014 Hyundai I20 selling at $12990. Do you think I will get approved for a loan?


Avatar

Elizabeth Barry Finder

December 14, 2015

Hi Daryn,


If your bankruptcy is no longer listed on your credit file you may be eligible for a loan, but you will need to get in contact with Aussie to confirm your eligibility.


You can also read our guide on available bankrupt loans and how can borrowing as a current or discharged bankrupt works.


Before applying for a loan, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you.


I hope this has helped.


Thanks,


Elizabeth


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Skye

April 30, 2015

I’m on single parenting payments and also am casually employed with guaranteed amount of hours per fortnight, would I be eligible for a car loan ?


Avatar

Elizabeth Finder

April 30, 2015

Hi Skye,


Thanks for your question.


In order to be eligible for this loan you need to be in consistent paid employment and be earning over $24,000 per year. You can’t be in probation in your role, you can’t have any defaults on loans or credit cards within the last five years and you can’t have filed for bankruptcy within the last seven years.


If you meet this criteria you will be eligible to apply and Aussie will determine your ability to repay your loan when deciding whether to approve you.


I hope this has helped.


Thanks,


Elizabeth


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Syed

April 17, 2015

I am on 489 visa but with consistent paid employment, do I eligible for car loan.


Avatar

Matt Corke Finder

April 20, 2015

Hi Syed,


Thanks for your comment. From what I understand 489 Visas are handled on a case by case matter.


Please get in touch with a lender directly to discuss eligibility.


Thanks

Cheers

Matt


Avatar

Matt

December 09, 2014

Hi there, I’m a casual employee and I applied for a $16, 000 loan with another finance company and I’ve been approved for $15, 000 n they say I can’t get the car I really want (Toyota aurion 2008) coz its “2 high risk” & I MUST get a 2012 car n it has 2 be bought from a dealership. . I’m not 2 sure if I should take the offer but im scared of not getting approved somewhere else.. I’ve read through ur site n u’s seem more trust worthy n more flexible 2 my needs & I want 2 go with Aussie.. if I apply with u’s, will this be bad for my record thing?


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Avatar

Shirley Liu Finder

December 09, 2014

Hi Matt,


Thanks for your question.


It depends on when you applied for your last car loan. As a general rule of thumb, you should wait about 3-6 months before you apply for another one.


Please note that if you refuse this current offer, there is the risk that Aussie may not offer you the loan amount that you’d like or accept your application. You might want to get in touch with them directly to discuss your options.


Cheers,

Shirley


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