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 buy the cars they need. It specialises in sourcing quality, reliable secondhand 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.

Main points to consider with a CarStart Car Loan

The interest rate for this car loan depends on whether or not you are able to put forward an old car as security. If you can, the rate is currently 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:

  • Loan amounts. You are able to borrow between $5,000 and $20,000 to buy the car you are after.
  • Same day turnaround. 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 applicants considered. 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.

How much will the loan cost?

The fees and charges are outlined in full when you apply for the loan. However, an illustrative comparison rate over 48 months for a $10,000 is 32.84%. For a $15,000, you can expect to pay $552.40 per month on a 48-month term.*

*Figures correct as at July 2018

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
  • Be allowed to work and reside in Australia for the duration of your chosen loan term

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*
IMB New Car Loan

You'll receive a fixed rate of 5.89% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Loans.com.au - New Car Loan

You'll receive a fixed rate of 5.44% p.a.
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

Latitude Motor Vehicle Loan

You'll receive a fixed rate between 6.99% p.a. and 14.99% p.a. based on your risk profile
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Stratton Finance New Car Loan

You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

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