Finder makes money from featured partners, but editorial opinions are our own.

New Car Loans Comparison

{"visibility":"visibilityTable","ctaLabel":"Calculate","tableCode":"AUFCL_COMPARISON_V2_TABLE","nicheCode":"AUFCL","fields":[{"name":"LOAN_AMOUNT","value":"20000","options":"","label":"Loan amount","suffix":"$","useSuffixAsPrefix":true,"useDropDownOption":false,"tooltip":""},{"name":"PERIOD","value":"3","options":"","label":"Loan term","suffix":"years","useSuffixAsPrefix":true,"useDropDownOption":false,"tooltip":""}]}
1 - 4 of 94
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
to 7.74%
Comp. Rate (p.a.)
to 8.85%
Application Fee
Monthly Fee
Monthly Repayment
Go to siteMore Info
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
to 18.99%
Comp. Rate (p.a.)
to 21.78%
Application Fee
Monthly Fee
Monthly Repayment
Go to siteMore Info
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
to 16.99%
Comp. Rate (p.a.)
to 17.77%
Application Fee
Monthly Fee
Monthly Repayment
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.)
Stratton Finance New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
to 18%
Comp. Rate (p.a.)
to 23%
Application Fee
Monthly Fee
Monthly Repayment
Go to siteMore Info
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Showing 4 of 4 results

What new car loan on Finder has the lowest rate?

Why compare new car loans with Finder?

No fee icon

It's 100% free

You won't be charged for clicking through to one of our car finance partners. We get paid out of their pocket – not yours.

Papers with magnifying glass icon

We're here to help

We've helped tens of thousands of Australians find a car loan by keeping things simple and free of complicated jargon.


It's quick and easy to use

Our side-by-side car loan comparison makes it easy to find a car loan that is a good fit.

How new car loans work

The majority of new car loan products are secured loans, meaning the lender has the right to repossess the vehicle if you default on your loan. While this is a steep price to pay, it also means you get a lower interest rate. Getting a new car loan doesn't mean you have to buy a car from a dealership – the majority of lenders will accept a vehicle up to two years old from a second-hand car dealer or a private sale.

When you apply, you and your car will need to pass the eligibility criteria. Depending on how strict the lender is, you may need to use the entire loan amount on the car, although some lenders may allow you to borrow some extra money to cover the costs that come with buying a new car. You will need to repay the loan over the pre-agreed loan term.

Types of new car loans

  • Secured car loan
    With a secured car loan, the bank is able to use the new car as security. That means it has a registered interest in the car and can repossess it if you default on your payments. The interest rate is lower than the rate you would get with an unsecured loan because a lender views it as less risky.
  • Unsecured car loan
    An unsecured car loan works a little differently, as the bank or loan company does not hold the new car you are purchasing or any of your assets as security. If you fail to make your personal loan repayments, the bank has little power to do anything about it, except send reminders. When you've consistently lapsed on repayments, it will send a debt collector to try and obtain the money. Your assets are safe, but the lender could take you to court. In response to the increased risk taken on by the lender, the interest rates are raised when compared with a secured loan.
  • Bad credit car loan
    If your credit report isn't quite as stellar as you'd like and you still want a new car, you should consider a bad credit secured car loan. These loans come with a higher interest rate due to the increased risk factor.

What is the difference between fixed and variable new car loans?

Variable rate car loans

A variable rate means the interest rate will fluctuate (according to the Reserve Bank of Australia's cash rate), while a fixed rate remains the same for the length of the loan's term. The variable rate might be cheaper now, but it can and will fluctuate with the market interest rates. This means your repayments might increase if the rates go up. Your payments may also come down if the rates start to fall.

Fixed rate car loans

By comparison, a fixed rate loan might initially be a bit higher than the variable rate, but you know that your repayments won't change throughout the loan term. If the rates increase over the next few years, it is possible that the fixed rate may end up being lower than the resulting variable rate.

How to compare new car loans

  • Check interest rates
    Compare interest rates and find the lowest option. Your interest rate will be personalised according to your credit history.
  • Watch out for fees
    Car loan application and monthly service fees can cost you hundreds of dollars.
  • Look for a loan with money-saving features
    You can get out of debt faster and save money with a loan that lets you make penalty-free extra repayments. A redraw facility lets you pull out those extra repayments to spend in an emergency.
  • Choose a suitable loan length
    Also known as loan term, this is how many years it will take to pay off your loan. A longer loan term makes your monthly payments cheaper, but you’ll pay more interest all up.

New car news

2023 Kia EV6 GT review

2023 Kia EV6 GT review

The Kia EV6 GT is a vehicle that marks a significant point in the evolution of the modern performance car, a nod to the future where speed and power coexist with sustainability and practicality.

Read more…
2024 MG4 review

Finder survey: What percentage of Australians in each state have taken out a car loan?

Source: Finder survey by Pure Profile of 1113 Australians, December 2023
Data for ACT, NT, TAS not shown due to insufficient sample size. Some other states may also be excluded for this reason.

2024 MG4 review

Once again MG proves it's making "Electric for Everyone" with the MG4.

Read more…

Did you know

Finder not only helps you find and compare new car loans, but we also have vehicle comparisons. If you still aren't sure about which car you are going to purchase, read our car reviews and compare models against each other.

The benefits and drawbacks of a new car loan

  • It fills your coffers so you can buy a new car.
  • It spreads the cost over several years.
  • New cars are generally easier to finance, so you could find a lender without fuss.
  • You get a new vehicle, benefiting from improved safety equipment, fuel efficiency, technology and passenger comforts.
  • The price of the car is often higher than the resale value of the car. This is because all car loans attracts interest and new cars can lose market value quickly, through depreciation.

Things to look out for with new car loanse

  • Once you have decided to take out a new car finance, it is essential that you work out all the costs associated with the car loan. The obvious things are the interest rates but there are other charges too. These may vary depending on the lender.
  • Fixed interest rates are common among car loan companies and they will not change throughout the loan period. If you choose a variable interest rate, the loan provider could alter the interest rate at any time depending on the Reserve Bank rates.
  • You should negotiate early repayment fees and redraw fees with the loan provider just in case your situation changes during the loan period.

How much are Australians borrowing on average?

Finder's Consumer Sentiment Tracker shows that on average Australians are carrying approximately $11,987 through their car loan in 2023.

Meanwhile, ABS figures from October 2023, show that new vehicle lending is currently at $1.4 billion, as of October 2023, increasing from $1.1 billion in October 2022.

What we thought of these new cars...

2023 Kia EV6 GT review

2023 Kia EV6 GT review

The Kia EV6 GT is a vehicle that marks a significant point in the evolution of the modern performance car, a nod to the future where speed and power coexist with sustainability and practicality.

Read more…
More car reviews...

Frequently asked questions about new car loans

More guides on Finder

Ask a Question

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • 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 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site