🎂 Turned 31 this year? Get health insurance before your price rises.
Get cover

Family Car Loan

Choosing the right loan is as important as choosing the right car for you and your family.

If you’ve decided to get a family car, whether it be your first one, an upgrade or a downgrade, it’s important that you finance it right. A car loan could be with you for a few years, so doing your homework now will benefit you later on.

Stratton Finance New Car Loan Offer

Stratton Finance New Car Loan

from

5.29 % p.a.

fixed rate

from

6.56 % p.a.

comparison rate

  • Rates from 5.29% p.a.
  • Loan terms 1-7 years
  • Fast approval
Security Logo

100% confidential application

Stratton Finance New Car Loan Offer

Apply for Stratton Finance Car Loan for purchasing a new car and enjoy a great fixed interest rate.

  • Interest rate from: 5.29% p.a.
  • Comparison rate: 6.56% p.a.
  • Interest rate type: Fixed
  • Application fee: $459.20
  • Minimum loan amount: $18,000
  • Maximum loan amount: $100,000
Go to site
Promoted

Compare car loans for your family car below

Rates last updated June 18th, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Stratton Finance New Car Loan
From 5.29% (fixed)
6.56%
$18,000
1 to 7 years
$8.90
$459.20
Apply for up to $100,000 and have up to 7 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.
IMB New Car Loan
5.99% (fixed)
6.34%
$2,000
1 to 7 years
$0
$250
Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.
Beyond Bank Low Rate Car Loan
From 5.69% (fixed)
5.97%
$25,000
1 to 7 years
$0
$175
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
Loans.com.au - New Car Loan
From 5.44% (fixed)
5.99%
$5,000
3 to 5 years
$0
$400
This car loan is for new cars and offers a low fixed rate and no ongoing fees.
Sydney CU Special Variable Car Loan
5.95% (variable)
5.95%
$10,000
1 to 7 years
$0
$0
Benefit from a flexible, variable rate to finance a car up to 3 years old with SCU.
RACV New Car Loans
From 5.99% (fixed)
6.53%
$15,000
1 to 7 years
$0
$380
A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.
Bank Australia Car Loan
6.45% (fixed)
6.66%
$1,000
1 to 7 years
$0
$150
A competitive rate and the ability to offset your car’s carbon emissions for the loan term.
Heritage Bank Car Loan
From 6.99% (fixed)
7.62%
$5,000
1 to 7 years
$5
$200
Apply for up to $100,000 to finance a new or used car at a competitive fixed rate.
Community First Credit Union New Car Loan - Variable
From 5.34% (variable)
6.1%
$10,000
1 to 7 years
$5
$195
Borrow up to $60,000 to purchase a new car or motorbike.
IMB Secured Personal Loan
6.89% (fixed)
7.24%
$2,000
1 to 5 years
$0
$250
All approved applicants can access this competitive rate and use the loan to finance a range of purposes. Loan amounts up to $60,000 available.
MyState Secured Personal Loan
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$10
$200
Apply for a loan up to $75,000 and benefit from loan terms up to 10 years. Your choice between secured or unsecured.

Compare up to 4 providers

Types of car loans you can consider

  • Secured car loan. You can apply for a car loan from a bank, credit union or standalone lender. As the car you're buying is used to guarantee the loan you can lock in a more competitive rate. You can get a secured car loan for new or used cars but your car will need to meet eligibility criteria.
  • Unsecured personal loans. Unsecured personal loans can also be used to finance a car purchase, and these loans do not require a guarantee. You can expect a higher interest rate than a secured loan as its more of a risk to the lender. However, these loans are generally more flexible in how you are able to use the loan amount.
  • Dealership finance. If you're purchasing your car from a dealership you may see some dealership financing on offer. These are notoriously low interest deals that last for up to five years. While repayments remain low during your loan term, there will be a balloon payment, in upwards of a few thousand dollars, to pay at the end of your term. Read more about dealership finance vs car loans on this page.

How you can compare family car loans

With all car loans there are some common features that you can use to compare them in order to find the best deal. Here are some things to look at when you are weighing up your options:

  • What fees will you be charged? You need to look at all fees that the lender may charge with the loan, whether you think they apply to you or not. You should look for upfront fees that cover the costs of establishing the loan, ongoing fees such as monthly account-keeping fees, and any additional fees that may be charged for extra repayments or paying back the loan early.
  • What is the interest rate? The rate charged on the loan should also inform your decision as to which option to go with. As explained above, you may opt for a variable or fixed rate loan depending on your needs and situation.
  • How restrictive is the loan?. Certain loans may impose restrictions on the way you are able to use the loan amount or what features you have access to. For instance, most secured loans only let you use the loan amount to finance the car and do not let you use the money for anything else.
  • Are the repayments flexible? Some car loans are more flexible than others. If you want to be able to take advantage of being able to make additional repayments, you should check that you will be able to do so.
  • What are the loan terms? The amount of time you are able to borrow the money for will differ between lenders, so make sure the loan you want to apply for offers the terms you are looking for.
  • How much can you borrow? Car loan amounts vary from between $1,000 to $100,000. Depending on the type of car you want and your financial situation, you may only be able to borrow a certain amount. Check with the lender that you will be able to access the loan amount you need.

What you should consider before applying

When you’re buying a family car it’s important that you opt for a loan you can afford so as not to get your family into any financial difficulty. You need to consider your family’s needs when deciding whether to choose a fixed or variable rate loan, how much you should borrow and also how long to borrow for. If you have young children, consider that they may be starting school soon and your expenses may increase. You also need to check the restrictions on the loan before you apply, as you may find that you cannot use the loan in the way you want.

Ready to apply?

You can use the finder.com.au comparison tables to find a car loan that is right for you and your family. Once you have chosen a loan you can follow the link through to the lender’s website to fill out an online application form. You will generally need to be over the age of 18 and be a permanent Australian resident to apply for a loan, though lenders will differ on their credit rating requirements. You will need to have the following information handy when applying:

  • Personal information including your name and proof of ID
  • Financial information including your income, assets, debts and open credit accounts
  • Your employer’s name and contact information
  • Information about the car including make, model and condition

Car loan comparisons

Was this content helpful to you? No  Yes

Related Posts

Car Loan Offers

Important Information*
IMB New Car Loan

Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.

Stratton Finance New Car Loan

Apply for up to $100,000 and have up to 7 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.

Loans.com.au - New Car Loan

This car loan is for new cars and offers a low fixed rate and no ongoing fees.

Beyond Bank Low Rate Car Loan "Special Offer"

Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question
Go to site