Skoda finance options

What types of Skoda finance options are available?

The best Skoda finance option for you will depend on your financial situation, whether you're buying for personal use or business and how long you plan to keep the car. Here are your main options:

Secured car loan

A loan where the car acts as collateral. These are the most common type of loan used to purchase a vehicle and they typically come with lower interest rates.

Unsecured car loan

Unsecured car loans often come with higher interest rates, but you don't have to use the vehicle as security.

Chattel mortgage

A chattel mortgage is a form of secured car finance for business buyers. Small businesses should also keep in mind the Australian Government's small business tax break which was renewed in the federal government's most recent budget.

Novated lease

A chattel mortgage is a form of secured car finance for business buyers. Small businesses should also keep in mind the Australian Government's small business tax break which was renewed in the federal government's most recent budget.

Pre-approved car loan

Pre-approved car loans let you know the amount you're allowed to borrow up to, before you shop. Helps with negotiating price and staying within budget.

Commercial hire purchase

Popular with business owners, this option lets you own the vehicle at the end of the repayment term.

Mortgage redraw

If you have sufficient funds in an offset account or redraw facility attached to your home loan, you could use this money to buy your car. The main benefit is the lower interest rate - home loans usually have far lower rates than car or personal loans. However, redrawing means the amount gets added back to your mortgage, which may take 20-25 years to pay off unless you actively repay it faster. You could end up paying significantly more interest over the life of the mortgage. Do the maths carefully before choosing this route.

Mortgage refinance

If you've built up equity in your home, refinancing could give you access to funds for a vehicle purchase. This option may suit you if your property has increased in value or if you're switching to a more competitive home loan. Just be aware: you'll likely need a fresh property valuation and you might incur exit or refinance fees. This is best for people with strong equity and a long-term financial plan.

Credit card

Some buyers consider using a credit card for part or all of a car purchase - especially if they're chasing reward points or have a short-term repayment strategy. However, credit cards usually come with high interest rates. What might seem like a quick solution can quickly become expensive if you don't pay it off quickly. If you're going this route, compare credit card products carefully and factor in the interest rate, annual fee, and any surcharges the dealer might add for card payments.

Skoda dealer finance

Skoda offers its own in-house finance through Skoda Financial Services, including Skoda Choice and consumer loans:

• Skoda Choice: A guaranteed future value (GFV) loan with flexible end-of-term options.
• Consumer loan: Fixed-rate, no ongoing fees, terms from 1 to 7 years, optional deposit or balloon payment.
• Finance lease: Use the car without owning it. Upgrade, return, or pay out the residual at the end.
• Business finance: Includes chattel mortgage, hire purchase and finance leases with business-use benefits.

Compare loans for buying a Skoda

Use the tool below to compare loan providers and find the best deal for your circumstances.

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Finder Score	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
Promoted Finder Score 9.3 Excellent OurMoneyMarket New Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $911.98	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteView details Compare product selection Compare	loading
Promoted Finder Score 9.1 Excellent Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 9.1 Excellent	Interest Rate (p.a.) 5.67% to 18%	Comp. Rate (p.a.) 6.1% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $920.14	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
Promoted Finder Score 8.5 Great RACV New Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.5 Great	Interest Rate (p.a.) 6.59% to 17.69%	Comp. Rate (p.a.) 7.29% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $936.01	Go to siteView details Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - New/Demo - Variable Rate Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteView details Compare product selection Compare	loading
Finder Score 8.1 Great loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8.1 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteView details Compare product selection Compare	loading
Finder Score 9.3 Excellent OurMoneyMarket Used Car Loan ($5,000-$100,000) Fixed1 - 7 Years $5,000 - $100,000	Finder Score 9.3 Excellent	Interest Rate (p.a.) 5.95% to 18.99%	Comp. Rate (p.a.) 5.95% to 21.78%	Application Fee $0 min.	Monthly Fee $0	Monthly Repayment $911.98	No monthly or early exit fees. Loan amounts range from $5,000 to $100,000. No vehicle age limit. Eligibility: Applicants with an Equifax credit score of 500 or above and an annual income of more than $25k are eligible.	Go to siteView details Compare product selection Compare	loading
Finder Score 8.9 Great Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Finder Score 8.9 Great	Interest Rate (p.a.) 6.59% to 18%	Comp. Rate (p.a.) 7.91% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $932.82	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
Finder Score 8.2 Great RACV Used Car Loans Fixed1 - 7 Years $5,000 - $100,000	Finder Score 8.2 Great	Interest Rate (p.a.) 7.89% to 17.69%	Comp. Rate (p.a.) 8.6% to 18.47%	Application Fee $499	Monthly Fee $0	Monthly Repayment $954.18	Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.	Go to siteView details Compare product selection Compare	loading
Finder Score 8 Great loans.com.au - Variable Rate Used Car < 3 years Variable3 - 7 Years $5,000 - $150,000	Finder Score 8 Great	Interest Rate (p.a.) 5.99% to 15.89%	Comp. Rate (p.a.) 7.12% to 17.01%	Application Fee $400	Monthly Fee $8	Monthly Repayment $932.69	Go to siteView details Compare product selection Compare	loading
Finder Score 7.8 Great loans.com.au - Fixed Rate Used Car Loan (6 to 7 years) Fixed3 - 7 Years $5,000 - $150,000	Finder Score 7.8 Great	Interest Rate (p.a.) 6.54% to 15.24%	Comp. Rate (p.a.) 7.67% to 16.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $940.28	Go to siteView details Compare product selection Compare	loading
Finder Score 9.1 Excellent SWS Bank Secured Personal Loan VariableUp to 15 Years $500 - $200,000	Finder Score 9.1 Excellent	Interest Rate (p.a.) 8.5%	Comp. Rate (p.a.) 8.5%	Application Fee $0	Monthly Fee $0	Monthly Repayment $947.03	View details Compare product selection Compare	loading
Finder Score Not scored yet Southern Cross CU Secured Personal Loan Fixed3 - 7 Years $5,000 - $150,000	Finder Score Not scored yet	Interest Rate (p.a.) 7.99%	Comp. Rate (p.a.) 8.9%	Application Fee $250	Monthly Fee $8	Monthly Repayment $955.79	Quick loan service with faster loan approvals and great rate.	View details Compare product selection Compare	loading

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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.

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Popular Skoda models in Australia

Skoda's 2025 range includes a strong mix of petrol and electric vehicles, with standouts like:

• Enyaq Coupe Sportline: From $69,990 drive-away
• Octavia Select Liftback: From $41,490 drive-away
• Ocatvia RS: From $64,490
• Fabia Monte Carlo: From $40,490 drive-away
• Scala Select: From $33,990 drive-away

The Octavia remains Skoda's best-selling model in Australia, now joined by the fully electric Enyaq and the compact yet premium Fabia.

How to apply for finance to buy a Skoda

To be eligible for car finance, you'll usually need to:

• Be 18+ years old
• Be an Australian citizen or permanent resident
• Have a steady income

You'll need to provide:

• Photo ID (e.g. driver's licence)
• Proof of income (payslips, tax returns)
• Details of debts, expenses and the vehicle being purchased

Things to compare when looking at Skoda finance

• Interest rate: Fixed vs variable, secured vs unsecured
• Loan flexibility: Early repayments, redraw facility
• Balloon payment: Will you be able to afford it later?
• Loan term: One to seven years usually
• Fees and charges: Upfront fees, monthly admin fees

Frequently asked questions

• How often should I service a Skoda?

  Every 12 months or 15,000-16,000 km. Your onboard system will notify you based on usage and engine type.

• Should I buy new or used?

  New Skodas offer warranties and newer tech, but used models can be cheaper upfront. Just check for service history and condition.

• What's the warranty on a new Skoda in 2025?

  Skoda offers a 7-year/unlimited-kilometre warranty across its range. Electric models like the Enyaq also include an 8-year/160,000km battery warranty.

• Are Skoda cars expensive to maintain in Australia?

  Skodas are generally cost-effective to maintain, especially with Skoda's capped-price servicing program and 12-month/15,000km service intervals.

• Can I pay off my loan early?

  Some lenders allow this without penalties, others don't. Always check for early exit fees before you sign.

Written by

Stacey Cole

Author

Stacey Cole has degrees in law and science, but happily left the busy world of litigation to be a full-time mother and writer. In her spare time she loves travel, roller coasters, and old-school gaming, even if her daughter can already beat her at most games. See full bio