Short term loans for car insurance & registration |

Car registration and insurance loans

Compare short term loan options you can use to cover car rego and insurance costs.

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If you've been hit with an expensive car insurance or rego bill and you don't have enough money put aside to cover it, a short term loan is one option that could help you to pay on time.

As with any form of finance, the requirements and fees can vary a lot between short term loans. Use this guide to compare different options and decide if a short term loan is right for you. Remember to compare the fees of any loan you are looking at with the cost of delaying payment on your car insurance or rego bill. To help, we also go through the key car registration and insurance costs to consider, so that you can choose the option that fits with your circumstances.

Are you struggling financially?

If you're struggling financially and would like to speak to someone for free financial advice, information and assistance you can call the Financial Counsellors hotline on 1800 007 007 (open from 9:30am to 4pm, Monday to Friday). If you are suffering financial problems related to the coronavirus pandemic you may be eligible for additional support. Find out more here:

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

Car registration costs to consider

There are several costs you need to consider when registering your car, including:

  • Registration. The cost of car registration varies depending on where you live and the type of car you drive. It generally ranges from $300 to more than $600 in some places, but will be much more if the cost of compulsory third party (CTP) insurance is automatically included (see below for more details).
  • CTP insurance. CTP insurance, also commonly known as green slip insurance, is mandatory for every Australian driver. It covers compensation costs if you kill or injure someone in an accident. In most Australian states CTP insurance is automatically included in vehicle registration costs, but drivers in NSW, Queensland and the ACT can choose their own CTP provider. The cost of CTP insurance varies depending on a range of factors but you can generally expect to pay upwards of $300 for cover.
  • Vehicle safety tests. You may also need to have your vehicle tested to ensure that it meets safety requirements before it can be registered. A safety certificate in Queensland costs more than $80, a NSW Vehicle Safety Check (formerly a pink slip) costs $42 and a Safety and Identity Check (formerly a blue slip) costs $66, and a Certificate of Roadworthiness in Victoria will cost $79 or more.

Sunshine Short Term Loans

This is a short-term loan offer with a fast and easy online application for good or bad credit borrowers. You can apply today to get approved for up to $2,000. Get your loan funded in 30 minutes - conditions apply.
  • Loan Amount: $2,000
  • Loan Term: 9-14 weeks
  • Turnaround Time: 30 minutes - conditions apply
  • Fees: 20% of loan amount + 4% of loan amount each month
  • Bad credit borrowers OK
  • Quick & easy Approval
Sunshine Short Term Loans
  • Bad credit applicants considered
  • Fast approval service
  • Borrow up to $2,000
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Short term loans you can use for car rego and insurance

Data updated regularly
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
9-14 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $2,000 that you repay over 9-14 weeks. Loans approved and funded in as little as 30 minutes.
Credit24 Short Term Loan
6-12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay. Centrelink borrowers are considered as long as Centrelink payments are not more than 50% of income.
Nimble Short Term Loan
62 days to 9 months
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan
22 - 52 weeks
Same day - conditions apply
Up to $2,000 - 20% establishment fee + 4% monthly.

Above $2,000 - $400 + loan management fee of up to $399 + from 8.7% to 48% APR
Borrow from $1,000 to $5,000 with same-day funding and no early repayment fees.
Fair Go Finance Small Loan
3-12 months
24 to 48 hours
0% Establishment Fee + monthly fee 4%
A small loan between $500 and $2,000 that can be funded in 24 hours. Note: Save up to $400 when you apply for a small loan from $500 to $2,000 and are approved for a 0% establishment fee. T&Cs apply.
Moneyspot Small Loan
62 to 90 days
1 hour - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Borrow under $2,000 and benefit from a transparent fee structure and a simple application. Bad credit borrowers considered.
Ferratum Cash Loans
3 to 12 months
Same day - conditions apply
20% of borrowed amount + 4% of borrowed amount each month
Borrow what you need with loans starting from $500 and approval in minutes.

Compare up to 4 providers

Car insurance costs to consider

Other than CTP insurance, there are three types of car insurance available in Australia:

  • Comprehensive car insurance. Comprehensive car insurance offers the highest level of protection for your vehicle, providing cover against collision damage as well as loss or damage caused by storm, hail, fire, flood, theft, vandalism and more. The cost of cover varies depending on your age, your driving history, the vehicle you drive, where you live and many other factors, but prices can range from around $600 up to more than $2,000 per year for younger drivers.
  • Third party fire and theft insurance. This type of car insurance covers your legal liability if you cause damage to someone else’s car or property, and it covers your own vehicle if it is lost or damaged due to fire or theft. If you want third party fire and theft insurance, you’re looking at a bill of several hundred dollars.
  • Third party property damage insurance. This basic level of car insurance covers your legal liability if you cause damage to someone else’s car or property. It’s the cheapest type of car insurance available but will still set you back several hundred dollars or more.

What is a car rego loan?

This term usually refers to a short term loan you can use to help cover your car rego costs and insurance premiums. The amount you can borrow varies depending on the loan and lending criteria, but they typically range from $500 to $2,000, with repayment terms of around 2 to 12 months.

Many car rego loans offer fast online applications and approval processes. There are also many lenders willing to offer loans to customers with bad credit. However, the costs associated with short term loans can be high compared to other personal loans, so it is important to look carefully at each option before deciding if you want to apply. Remember that if you miss repayments on a short term loan there are normally late fees that could result in you having to pay back a lot more than you borrowed in the first place.

How to compare car registration loans

If you need a car rego loan or a car insurance loan, remember to consider the following factors when comparing your loan options:

  • Loan fees. The Australian government has capped fees for small short-term loans at the following maximum limits: an establishment fee of no more than 20% of the loan amount and an ongoing monthly fee of no more than 4% of the loan amount. Remember to take the loan fees into account when calculating the total cost of borrowing.
  • Loan term. Terms of up to 12 months are typically available for car rego loans. Remember to calculate how the loan term will affect not only your monthly repayment amount but also the total cost of borrowing over the life of the loan.
  • Repayment schedule and amount. Many lenders will allow you to choose a repayment schedule that aligns with your income so that you can make weekly, fortnightly or monthly payments whenever you receive your usual paycheque. Take a look at the regular repayment amount that you will need to meet and make sure it’s a figure you can comfortably afford.
  • Turnaround time. Some lenders provide loan approval and access to funds within the hour, while the process could take up to two business days with other lenders. If you need fast access to funds to pay an urgent bill, check the lender’s turnaround time before you apply.
  • Loan amount. Most car rego and car insurance loans are for amounts of up to $2,000. However, depending on your circumstances, you may be able to access a larger loan of up to $5,000 if required to help you pay essential vehicle costs.

Factors to consider before you apply for a car registration loan

There are a few important issues you need to consider before you apply for a car rego loan:

  • What are your options? It’s always a good idea to consider all your payment options before borrowing money. For example, can you pay your rego for a shorter period of time, such as three or six months, rather than forking out to register your vehicle for the full year? If you have comprehensive car insurance, could you reduce your premium by choosing a higher excess or maybe even switching to a lower level of cover?
  • Can you afford the loan? If you do decide to borrow, make sure you can afford to repay your debt. Consider the loan amount, the term, the regular repayment amount and the total loan cost before you decide whether a car rego loan is right for you. Be careful not to get in over your head as this could lead you into deeper financial trouble.
  • Are bad-credit borrowers accepted? Many car rego loan lenders will accept borrowers with bad credit, but not all will. Ensure that your credit history won’t disqualify you from a loan before you apply. Lots of failed applications for loans can have a negative impact on your credit score.
  • Do you meet the eligibility requirements? You’ll also need to check that you meet all the other eligibility requirements that apply, such as:
    • You must be at least 18 years of age
    • You must be an Australian citizen or permanent resident
    • You must have a regular source of income

Other requirements will often need to be met as well, so check with the lender before you apply.

If you need finance to help keep your car on the road, compare your car rego loan options at today.

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