CarStart Car Loan

Take advantage of a no-deposit car loan from CarStart Finance and get on the road hassle-free.

CarStart is a financial services business that helps Australians across the country buy the cars they need with very little hassle. It specialises in sourcing quality, reliable second-hand vehicles and providing loans to help customers buy one. The maximum loan amount you can apply for is $20,000, and you have to use it to purchase a car from the range of used vehicles CarStart has to offer.

Things to consider about this car loan

The rate of interest for this loan depends on whether or not you are able to put forward an old car as security. If you can, the rate as of November 2017 is 32.84%. If you can’t offer security, there is an unsecured option available, for which the rate varies.

If you are unsure about the amount you want to spend, and the kind of vehicle you are looking for, CarStart will work with you to find one that meets your needs and is within your budget.

Loan amounts start from $5,000 and go up to $20,000, and are for a 3 to 4 years period.

Features of the CarStart car loan

Some of the features you can take advantage of with this loan include the following:

  • Varied loan amounts. You are able to borrow a minimum of $5,000 and a maximum of $20,000 to buy the car you are after.
  • Same day drive away. If the car you want is in stock and meets your needs, you can pick it up and drive it away on the same day.
  • Straightforward application process. You simply need to provide your personal and income details to determine whether you are eligible for the loan. This process only takes around 10 minutes. If you have an asset, such as an old car that you want to put forward as security, you are able to do this as well.
  • Bad credit isn’t an issue. You can still apply for this loan even you have bad credit. In order to do so, you need an old vehicle that you own to put forward as security.
  • Flexible repayments. You can choose to make payments weekly, fortnightly or monthly, to fit in with your personal financial situation.
  • Varied loan terms. You are able to choose a loan term of between 3 or 4 years.

Fees and charges

Some of the fees you can expect to be charged include the following:

  • An establishment fee.
  • Late fees. These will be charged if you are unable to make a payment on the due date.
  • A monthly fee. This will either be a percentage of the amount you’ve borrowed or a set fee.

The specific fees that will be charged for your loan will be set in a fee schedule and will be known to you once you have been approved for this loan.

How to apply for a CarStart car loan

First of all, check that you meet the following criteria:

  • You must be over the age of 21.
  • You must have a regular income. This can include Centrelink benefits, but they must not be your only source of payment.

Having a good credit rating is ideal but not a requirement. You are able to apply for this loan with bad credit by offering up an old car that you own as security.

Once you are sure you meet these criteria, simply click on “Go to Site” to begin your application. Some of the documents you will need to provide include the following:

  • A photocopy of your driver’s licence or your licence number.
  • At least three months worth of income statements or Centrelink income statements.
  • If you are offering an old car as security, you need to provide proof of ownership.

Provided you have these details on hand, the application process should take no longer than 10 minutes.

A car loan from CarStart is definitely worth considering if you’re looking for a new or upgrade vehicle. Compare other car loans as well to make sure you’re getting the best deal for your needs.

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Car Loan Offers

Important Information*
Stratton Finance New Car Loan

Apply for up to $100,000 and have up to 10 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.

IMB New Car Loan

Borrow up to $75,000 for a new car up to two years old. Competitive 5.99% p.a. rate available to all approved applicants.

Beyond Bank Low Rate Car Loan "Special Offer"

Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

RACV New Car Loans

A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.

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