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Online car loan brokers

Applying for a car loan through an online broker can be a quick, convenient way to secure the right kind of finance for your car purchase.

Car loan brokers can help you find and apply for a loan when you're ready to purchase a vehicle. And online brokers can give you insights into what different lenders are looking for and help you complete the application process when you've chosen a loan.

Applying with a broker also means that your application can be submitted to several lenders, which increases your chances of getting approved.

How do car loan brokers differ from a car lender?

  • A car lender such as a bank or standalone financier, provides car finance directly. They can only offer you the loans and products that they have available.
  • A car loan broker goes between banks and car lenders to find a loan that meets your needs. They can pick and choose loans from different lenders to give you a range of options to choose from, instead of you having to go to multiple lenders to get quotes.

Car loan broker comparison

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
Credit Concierge Car Loan - Prime (Credit Score 800+)
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
to 8.29%
Comp. Rate (p.a.)
to 9.41%
Application Fee
Monthly Fee
Monthly Repayment
More Info
You'll receive a fixed rate of 6.29% p.a. with a comparison rate of 7.41% p.a.
Must have a high credit score and excellent previous repayment history to qualify. Home ownership or mortgage may assist overcoming a lower credit score in some instances. Lenders individual credit criteria applies and approval is not guaranteed nor is the interest rate finalised until a formal submission for finance is made.
Driva Car Loan
Fixed3 - 7 Years $1,000 - $250,000
Interest Rate (p.a.)
to 25.99%
Comp. Rate (p.a.)
to 30.9%
Application Fee
Monthly Fee
Monthly Repayment
More Info
You'll receive a fixed rate from 5.95% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
Fixed1 - 7 Years $15,000 - $500,000
Interest Rate (p.a.)
Comp. Rate (p.a.)
Application Fee
Monthly Fee
Monthly Repayment
More Info
You'll receive a fixed rate from 4.8% p.a.
Get access to a range of lenders to finance a new vehicle or a car up to 2 years old. Loans start at $15,000
Freedom Finance Car Loan
Fixed1 - 5 Years $35,000 -
Interest Rate (p.a.)
Comp. Rate (p.a.)
Application Fee
Monthly Fee
Monthly Repayment
More Info
If you meet all the requirements you could get access to a range of lenders to finance a new or used car up to 4 years.
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Pros and cons of applying with an online car loan broker


  • Access a range of lenders. A car loan broker is able to engage with a variety of lenders and present you with different options based on your criteria.
  • Simple application process. A broker essentially lets you apply with multiple lenders through one application, and can help you with applying.
  • Options for bad credit. While traditional lenders might be wary of customers with bad credit, an online broker may be able to submit your application to several alternative lenders.
  • Potential discounts. Online brokers have relationships with a range of lenders and may be able to negotiate loan terms and get discounted interest rates for you.


  • Doesn't consider all lenders. Online brokers have relationships with a range of lenders but may not have relationships with all of them. This means you'll be given options that are available to the broker.
  • Additional fees. Brokers may charge a brokerage fee for their services, as well as other fees for setting up the loan. Check these details before committing to any contract.
  • Impersonal. If you prefer face-to-face exchanges with lenders, then this solution is not for you. The broker submits your application to lenders on your behalf, and you might not even meet with the lender who grants you the loan.

How do you choose a car loan broker?

It can be tough choosing a car loan broker, but it’s important to consider whether or not they meet your needs.

The most important thing to know first off is if they are licensed within Australia to be brokering loans. If they’re not, walk away. You can search whether or not they are licensed through ASIC Connect’s Professional Registers.

Another thing to consider is that a loan broker is impersonal. If you like meeting the lender who will grant your loan request in person, this may not be the ideal situation for you as loan brokers send applications off for approval.

Also keep in mind that a car loan broker should be transparent with its fees. It is important to ask what loans a broker offers, who it works with and if it charges a fee for its services.

Getting all the right information is vital in making your decision, so it’s okay to ask questions before agreeing to go with a car loan broker. Making a wish list of your loan requirements can also help as you can show the loan broker what you’re looking for.

Are there any risks in using an online car loan broker?

There are a few risks to using an online broker. For example, you may not be approved for a loan despite following the broker’s instructions and filling out the form properly. This can be tough as you have done the legwork and received no reward for it.

There is also the potential risk of being approved for a loan but it’s not the amount that you need. Keep this in mind when you apply.

Another aspect to keep in mind is that the loan the broker is pushing may work out better for the broker than you, whether that is because of a higher commission rate or a higher fee that it charges you. These possibilities are something to keep in mind when deciding whether or not you want to go with a car loan broker.

How does applying for a car loan online work?

The first step is getting in touch with the online broker about your car finance needs. Most car loan websites have a contact or a quote form you can fill in. The car loan broker will then follow up with you about your financial situation, the car you’d like to buy and the appropriate loan product. This information will be used to do a preliminary assessment of your situation.

After cross-checking your application against various lenders’ criteria, the broker will recommend a loan product suited to your situation. If you agree to the suggested terms, the broker will secure the finance on your behalf.

You will also need some information from the seller so that the lender can settle the loan contracts. Funds will then be sent directly from the lender to the seller, after which you can collect your new car.

What do you need to apply with a car loan broker?

Here’s what you’ll need to submit as part of your application:

  • Driver’s licence
  • Medicare card
  • Proof of income
  • Proof of residence
  • Passport or birth certificate

You’ll also have to provide information about the car you’d like to buy and the person or company selling it (if you’ve chosen your vehicle).

The more complete your application, the better your chances of getting it approved. Online brokers work with a variety of lenders, so they’ll help you cast a wide net by highlighting the strongest aspects of your application.

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Is there anything you need to keep in mind?

Buying a new car is exciting, but there are a few things to keep in mind before signing any binding contracts.

  • Be realistic. Besides a house, a car is one of the bigger investments you’ll make. Go for a purchase that’s good value for money and that you can afford to pay off and maintain.
  • Thoroughly check the car. Before signing any legal contracts, make sure that the car corresponds with the seller’s description. Check the car’s mileage, the features advertised and its general condition.
  • Don’t settle. You don’t have to sign or agree to anything if you don’t feel comfortable with the broker’s recommendations. Make sure that the broker has a clear idea of what you want and what you’re willing to pay.

Frequently asked questions about car loan brokers

What if I don’t earn enough to qualify for an online car loan?

If you have valuable assets like property, other vehicles or business equipment, you can use these as security for a car loan.

Can I have finance approved before I start car shopping?

After an initial assessment, some online brokers offer conditional pre-approval before submitting your application to lenders.

How do I know I can trust the lender?

Since you’re not dealing with the lenders yourself, it’s a good idea to make sure you’re borrowing from a legitimate loan provider. Check to see whether the lender is registered with the Credit Ombudsman Service. In the case of a dispute or legal issues about the loan, you’ll be able to contact the service for an independent resolution.
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4 Responses

    Default Gravatar
    ابتسامAugust 15, 2018

    Hi I am a smile from Saudi Arabia I want to get a personal loan through a broker or broker Is it possible to help me in the addresses and locations

      Default Gravatar
      JoelAugust 15, 2018

      Hi Smile,

      Thanks for leaving a question on finder.

      Unfortunately, the lenders featured on our website only caters to residents from the US, Australia, UK, Canada and New Zealand. You will have to check with your local lenders if you are not from those 5 countries I mentioned. Sorry about that. I hope you find what you need and good luck.


    Default Gravatar
    JinilSeptember 13, 2017

    I already got a car loan which I got another $12000 to pay off. I signed another contract to get a car before asking if i can get second car loan. Because i thought i will sell my current car straight away. They are rejecting my loan.

      JhezelynSeptember 14, 2017Finder

      Hi Jinil,

      Thanks for your comment.

      The big thing with a second loan is credit scores, and reports. This is the most important because you are putting yourself farther into debt with another car, and that can scare the lenders off.

      You would be best to directly get in touch with a car loan brokers. You may click the Enquire Now button above to get in touch with car loan brokers.


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