Fixed Rate Car Loans

Lock in a competitive rate and be able to budget for your loan term with a fixed rate car loan.

Found the car you want to buy? Whether it's new or used, you can find a low rate that stays low for your entire low term when you opt for a fixed rate car loan. Terms of between one and seven years are available with these loans and you can get financing for cars for a range of budgets. Compare your options below and read our guide to find out more about how fixed rate car loans work.

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
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100% confidential application

Stratton Finance New Car Loan Offer

Benefit from Stratton's expertise to get a fixed or variable rate car loan.

  • 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
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Fixed rate car loans comparison

Rates last updated August 16th, 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.
RACV New Car Loans
From 5.99% (fixed)
6.55%
$15,000
1 to 7 years
$0
$399
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.
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.
St.George Secured Personal Loan - Fixed Rate
From 8.49% (fixed)
9.6%
$3,000
1 to 5 years
$12
$195
Use your car as security and benefit from a competitive interest rate.

Compare up to 4 providers

Compare fixed car loans

  • Bank Australia Car Loan: 6.66% p.a. comparison rate. A fixed rate car loan that offsets your car's carbon emissions.
  • IMB New Car Loan: 6.34% p.a. comparison rate. A fixed car loan with flexible terms, no account-keeping fees and a competitive rate.
  • Beyong Bank Low Rate Car Loan: 5.97% p.a. comparison rate. A competitely priced car loan that is only available for a limited time.
  • RACV New Car Loan: 6.55% p.a. comparison rate. Get a low interest rate and fast approval with the RACV New Car Loan.

How do fixed rate car loans work?

Fixed rate car loans come with an interest rate that will apply for the duration of the loan term. As this protects you from rate fluctuations, these loans come with more restrictions. You generally won't be able to make extra repayments or repay your loan early, or you'll have to pay a fee to do so.

Lenders normally require you to use your entire loan amount on the car purchase, although some allow you to borrow extra to cover additional vehicle costs, such as insurance. Once you're approved for the loan you make ongoing repayments throughout the loan term, which can be anywhere between one and seven years, until the loan is repaid in full.

What are the types of fixed rate car loans?

There are two types of fixed rate car loans, a secured fixed rate car loan and an unsecured fixed rate car loan.

  • Fixed Rate Secured Loan.
    In secured fixed rate car loans, the lender will use your vehicle as a guarantee for the loan. These loans generally come with lower rates as they are a lower risk for the lender to take on.
  • Fixed Rate Unsecured Loan.
    An unsecured fixed rate car loan means you do not have to use your vehicle to secure the loan. As the loan is more of a risk the rates are generally higher, but you have more freedom with how you use your loan amount.

How you can compare fixed rate car loans

When you plan to take a fixed rate car loan, it is important to compare the fee structure, interest rate and other features offered by different lenders in the market.

  • Compare interest rates.
    Fixed interest rates differ from one lender to another and determine what your repayments will be. You are also given an option to reduce your interest payments by providing your asset as a security against the loan.
  • Compare comparison rates.
    The comparison rate is basically a tool that helps you identify the actual cost of a loan. This rate is determined by taking into account the interest rate, other charges and fees related to a loan. However, it does not include government charges and contingent fees (for example, redraws fee or fees for early repayment). Comparison rates are calculated on the basis of a loan term, loan amount, repayment frequency (whether fortnightly, monthly or weekly), interest rate and other charges and fees.
  • Compare lenders.
    Choosing the right lender is very critical when you plan to take a fixed rate car loan. Different brands offer different features, such as extended loan terms, minimum loan amount, insurance covers, flexible repayment schedule, early repayment options, lower interest and comparison rate in order to attract borrowers. If you're loyal to a particular lender, be mindful that they may not have the best deal for you particular situation.
  • Compare the fees.
    There are different fees and charges such as early termination fees, monthly administration fees and establishment fees. Fees generally vary from lender to lender and it is only wise if you choose the one who offers minimal fees in order to reduce your overall cost of the fixed rate car loan.

Benefits and drawbacks of a fixed rate car loan

  • Fixed repayments can help you budget throughout your loan term
  • Car loans generally come with lower rates, so you can lock in a competitive option
  • A fixed rate loan does not offer flexibility if your repayments change
  • If market rates change your interest rate will not drop

Things to avoid about fixed rate car loans

Although, fixed rate car loans offer a great deal of benefits and attractive features yet there are certain issues that you need to consider when you apply for a fixed rate car loan.

  • Always read the fine print.

The most important thing to avoid is not understanding what you're getting into. Make sure you're aware of all fees, charges, terms and conditions before applying.

  • Early repayment fees.

There may be early termination fees or early payoff penalties with fixed rate car loans if you want to finalise your loan payment earlier than the agreed term.

  • Car eligibility.

Check the car you're planning to purchase is eligible under the terms of the loan. Most lenders will set maximum age limits on cars but it may also have to be of a certain condition.


Start a comparison of car loans today

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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.

Loans.com.au - New Car Loan

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

Latitude Motor Vehicle Loan

Apply online to finance a new or used motor vehicle and receive a response in 90 seconds. You will receive a competitive tailored rate of between 6.99% p.a. to 14.99% p.a. based on your risk profile.

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.

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