Online car loan brokers

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.

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.

Car loan broker comparison

3 of 3 results

Checked 5 November 2026

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Finder Score	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Promoted 8.5 Great Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	8.5 Great	Interest Rate (p.a.) 6.2% to 18%	Comp. Rate (p.a.) 6.63% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $622.31	Your own personal car loan broker can help you borrow up to $300,000 for your new car by choosing from a range of finance options.	Go to siteView details Compare product selection Compare	loading
8.6 Great Driva Car Loan Fixed or Variable1 - 7 Years $2,001 - $300,000	8.6 Great	Interest Rate (p.a.) 6.57% to 36%	Comp. Rate (p.a.) 6.78% to 36%	Application Fee $0 - $500	Monthly Fee $0	Monthly Repayment $613.62	ContinueView details Compare product selection Compare	loading
Not scored yet AutoCarLoans Fixed or Variable3 - 7 Years $5,000 - $300,000	Not scored yet	Interest Rate (p.a.) 1% to 6%		Application Fee $500	Monthly Fee	Monthly Repayment $578.27	ContinueView details Compare product selection Compare	loading

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How we picked these

Finder Score for car loans

To make comparing car loans even easier we came up with the Finder Score. Interest rates, fees and features across 200+ car loan products and 100+ lenders are all weighted and scaled to produce a score out of 10. The higher the score, the more competitive the product.

Read the full methodology

Pros and cons of applying with an online car loan broker

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.

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 that the lender and broker hold an Australian Credit Licence (or are authorised credit representatives) and are members of the Australian Financial Complaints Authority (AFCA). If you have a dispute about the loan that the lender or broker can't resolve, you can take your complaint to AFCA for independent resolution.

• Can I get pre-approval through an online car loan broker?

  Many online car loan brokers offer pre-approval so you can get an idea of how much you can borrow before you start shopping for a car. Pre-approval can help you set a firm budget and give you extra confidence when negotiating with dealers.

• Do online car loan brokers charge fees?

  Most brokers earn a commission from the lender, so they usually don't charge you directly. However, some may include service or processing fees in specific cases. Always check the broker's fee disclosure before proceeding with an application.

• Will using a broker affect my credit score?

  It depends on how the broker checks your credit. Some brokers perform a "soft" credit check initially, which won't impact your score. Once you decide to apply for a loan, a "hard" credit check may occur, which can temporarily affect your credit rating.

• Can I use a broker if I have bad credit?

  Brokers can be really helpful for borrowers with bad credit or lower credit scores. A good broker can help you improve your application and show you lenders that are more likely to accept your application.

• Is using an online car loan broker safe?

  Reputable brokers use secure platforms to protect your personal and financial information. Always make sure the broker is accredited and works with licensed Australian lenders. Reading customer reviews can also help you assess their reliability.

• Can I refinance my car loan through an online broker?

  Yes. Many brokers can help you compare refinancing options from multiple lenders to see if you can lower your interest rate, reduce your monthly repayments or adjust your loan term. It's worth checking if early repayment fees apply to your current loan first.

• How long does it take to get a car loan approved through a broker?

  Approval times vary between lenders, but many online brokers can secure conditional approval within a few hours. Full approval typically follows once all your documents are verified, which can take one to three business days.

• Can I use an online car loan broker to buy from a private seller?

  Car loan brokers can arrange loans for cars bought through private sales as well as dealerships. The process is similar, but you'll need to provide details about the seller and ensure the vehicle passes any required inspections.

• Are online car loan brokers regulated in Australia?

  Online car loan brokers must hold an Australian Credit Licence (ACL) or act as a representative of a licensed broker under ASIC's regulation. This ensures they meet national credit laws and responsible lending obligations.

Written by

Elizabeth Barry

Journalist

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Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise

Elizabeth has written 150 Finder guides across topics including:

• Banking
• Personal finance
• Investing