Online car finance quotes

When you're about to buy a car with a loan, it's a really good idea to get a few online car finance quotes first. You don't want to overpay for a car. And in the same way, you don't an expensive car loan with a high interest rate and large fees.

Comparing your options and getting a few quotes online can save you hundreds if not thousands of dollars.

Online car finance quote (indicative only)

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
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 Compare
Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to siteMore Info Compare	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.
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 Compare
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 Compare
Credit Concierge New Car Loan Fixed1 - 7 Years $10,000 - $100,000	Interest Rate (p.a.) 6.29% to 16.45%	Comp. Rate (p.a.) 7.41% to 17.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment $637.97	Go to siteMore Info Compare
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 Compare
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 Compare
Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $625.27	Go to siteMore Info Compare	You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a. A used car loan of up to $300,000 with quick approval times and balloon payment options.
loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.74% to 7.74%	Comp. Rate (p.a.) 8.85% to 8.99%	Application Fee $400	Monthly Fee $8	Monthly Repayment $644.82	Go to siteMore Info Compare
RACV New Car Loans Fixed1 - 7 Years $5,000 - $150,000	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 Compare	You'll receive a fixed rate from 7.29% p.a. A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Credit Concierge Used Car Loan Fixed1 - 7 Years $10,000 - $1,000,000	Interest Rate (p.a.) 6.8% to 17.45%	Comp. Rate (p.a.) 7.56% to 18.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment $642.74	Go to siteMore Info Compare
RACV Used Car Loans Fixed1 - 7 Years $5,000 - $150,000	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 Compare	You'll receive a fixed rate from 8.49% p.a. Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.

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How does an online car finance quote work?

1. Start by finding a few car loan lender that looks suitable (you can compare them in the table above).
2. Enter your details on the lender's site (they probably have a quote form). This includes your personal details and information about the car you're buying (or thinking about buying if you're still just researching).
3. Once you're done, the lender will provide you with either a single quote, or a few options. Pay close attention to the interest rate and the loan fees.
4. Repeat steps 1 to 3 with a few more lenders so you can compare multiple car loan quotes.

Run your car loan quote through a calculator

If you've received a quote for a car loan, plug the rate and fee details along the with loan amount into a car loan calculator. This way you can see what it will cost you month by month.

And you can adjust some of the details (like the loan term) to see how a change will affect your repayments.

How to use a car finance quote to make a decision

Once you have a few car loan quotes you can easily compare them and find the best car loan for you.

• Look at the interest rate. For any loan, the lower the rate the cheaper the loan will usually be (unless it has very high fees). Borrowers with Good or Excellent credit scores get the lowest rates.
• Factor in the cost of fees. Application and monthly fees increase the cost of your loan. Be sure to factor in the cost of fees on top of the interest rate.
• Think about the loan term. A shorter loan term means you pay less interest because you get out of debt faster. But a longer loan term means smaller repayments each month. Try different loan terms when getting online quotes to see how it changes your loan.

There are other factors to look at too, but these can be harder to compare. Some loans let you make extra repayments, which means you can pay the loan off faster. Fixed rate loans mean your interest rate never changes, while variable rates fluctuate.

You should also be aware of loans with balloon payments: your monthly repayments might be smaller but you'll have to pay a sizeable lump sum at the end of the loan.

What is the comparison rate?

The comparison rate is just the loan's interest rate, adjusted to include the cost of fees. It can help you understand the true cost of loan.

Pros and cons of online car finance quotes

What should I consider while requesting an online quote?

• False information. When requesting an online car finance quote, the information you provide must be factual. Providing false information may lead to a lender disqualifying your application.
• Overpricing / underpricing. Do not overprice or underprice the cost of the car you intend to buy. Remember that the value you provide will contribute to the quote that you will be given, and you need a quote that you can actually use.
• Settling. Do not settle for the first quote you come across. The whole point is to compare what different lenders have to offer to get the best deal.

How to obtain an online car finance quote

The information required when filling out an online car finance quote includes:

• The details of the car you wish to buy, such as the make, model, year, condition and where you are buying it.
• Your financial details. In this section you will list the loan amount and term that you require, as well as indicate whether you have any assets and liabilities.
• Your personal details. You will need to include your full name, address and contact details.

Once you are done filling in these details, simply submit your quote and wait for a response.

Written by

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full bio

Richard's expertise

Richard has written 530 Finder guides across topics including:

• Home loans
• Property
• Personal finance
• Money-saving tips