OurMoneyMarket New Car Loan
- Application Fee
- 0% establishment fee for customers with an exceptional credit score. A higher fee may apply depending on your credit score.
- Interest Rate (p.a.)
- From 5.95% (fixed)
- Comparison Rate (p.a.)
- 5.95%
- Max Loan Amount
- $100,000
Summary
Finance your next vehicle with a car loan from OurMoneyMarket and receive a rate from 5.95% p.a.
Apply for a loan from $5,000 to $100,000 for any new motorised vehicle with OurMoneyMarket. Applications are entirely online, and you could get a conditional loan offer within minutes. If you’re looking to finance a used car, check out our review of OurMoneyMarket’s Used Car Loan.
You might like the OurMoneyMarket New Car Loan ($5,000–$100,000) if...
- You want one of the lowest rates available. With a comparison rate of 6.28% p.a., this loan is among the cheapest in the Finder database, making it a highly competitive option for new car financing.
- You prefer a loan with no ongoing fees. This product has no monthly fee, making it more cost-effective over the life of the loan compared to others that charge a monthly fee.
- You want flexibility without penalties. The loan allows extra repayments with no early exit fees, helping you pay it off sooner without additional costs.
- You’re looking for a well-reviewed product. It has a Finder Score of 9.3, placing it among the highest-rated car loans in the entire Finder database.
You might not like the OurMoneyMarket New Car Loan ($5,000–$100,000) if...
- You want to borrow less than $5,000. The minimum loan amount available is $5,000, which may not suit you if you only need a small car loan.
- You’re not buying a new car. This loan is specifically designed for new car purchases, so it may not be suitable if you're looking to finance a used or older vehicle.
- You want in-person service. OurMoneyMarket operates entirely online, so if you prefer speaking with someone face-to-face or getting assistance at a physical branch, this may not be the best fit.
Pros
-
Flexible repayments
-
No application fee or monthly service fee
-
No early repayment or exit fees
-
No vehicle age limit
Cons
-
Late payment fee of $35
Details
OurMoneyMarket New Car Loan
| Product Name | OurMoneyMarket New Car Loan ($5,000-$100,000) |
| Interest Rate (p.a.) | 5.95% to 18.99% |
| Comp. Rate (p.a.) | 5.95% to 21.78% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max Loan Amount | $100,000 |
Main points to consider with an OurMoneyMarket New Car Loan ($5,000-$100,000)
With a car loan from OurMoneyMarket, you can borrow from $5,000 up to $100,000 for any motorised vehicle, such as boats, motorbikes and caravans. Rates start at 5.95% p.a. (comparison rate 5.95% p.a.) for secured loans and there are no monthly account-keeping fees, no prepayment payment fees and no early exit penalty charges. All rates are fixed, so your repayments won't change over the life of the loan. Available terms vary from 1 to 7 years.
New car loans from OurMoneyMarket are secured loans, meaning the car is used as collateral. Applications only take 5 minutes to complete, and you could get a conditional loan offer in as little as 1 minute.
Features of an OurMoneyMarket New Car Loan ($5,000-$100,000)
The following features apply to an OurMoneyMarket New Car Loan:
- Loan amount. You can apply for a loan from $5,000 to $100,000.
- Loan terms. Loan terms vary from 1 to 7 years.
- Quick application. Applications are 100% online and take only 5 minutes to complete.
- Quick approval. If you're approved, you could receive a conditional loan offer in less than 1 minute.
- Flexible repayments. Make your repayments weekly, monthly or fortnightly.
- Personalised rate. The rate you will receive is based on factors including your credit score, income, loan amount, loan term, etc.
- Fixed rate. OurMoneyMarket offers fixed rate loans. This means that your repayments will not change over the life of the loan.
- No early repayment penalties. If you wish to make additional repayments or pay off your loan early, you can do so without fees.
- Won't affect your score. Obtaining a free quote won't affect your credit score.
- Direct debit repayments. Repayments will be taken from your nominated bank account on the agreed upon dates.
Fees and charges
- Interest rate: 5.95% p.a. to 18.99% p.a.
- Comparison rate: 5.95% p.a. to 21.78% p.a.
- Application fee: $0
- Monthly service fee: $0
Additional fees and charges, such as late payment or dishonour fees, may also apply.
How to apply for an OurMoneyMarket New Car Loan ($5,000-$100,000)
To apply for a car loan with OurMoneyMarket, simply click "Go to site" to visit the lender's website directly and submit an application. To apply, you must:
- Be an Australian citizen or permanent resident
- Be aged 18 years or older
- Have a gross income greater than or equal to $25,000 per annum
- Have an acceptable credit history
- Not be in hardship with another financial provider
- Have no undischarged bankruptcy listings on your credit file
You will also require the following documentation to apply:
- Three months of your bank statements (this can be done manually or online through the Illion gateway)
For other similar loan products, compare a range of car loans.
Sources
Your reviews
Bria Finder
Writer
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Sarah Megginson Finder
May 02, 2025
Hi Pal,
This guide runs through personal loan options for those on a pension, it’s worth looking at some options here. You may also be eligible for a $3,000 no interest loan through Good Shep, which could be helpful? Lastly, the National Debt Helpline might be helpful as they have free financial counsellors. Hope this helps!
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Pal
May 02, 2025
Is there anyone you can recommend that do car loans if you are on a centrelink cares pension earning around just over 30000 a year any help towards the right lenders would be appreciated