Finder makes money from featured partners, but editorial opinions are our own.
Finder’s Personal and Car Loan Awards methodology
The data and analysis Finder’s experts used to determine the best personal and car loans for each category of the 2024 Finder Product Awards.
What are the Finder Personal and Car Loan Awards?
Finder's Personal and Car Loan Awards recognise market-leading secured, unsecured and car loans, with a ratings methodology that compares features for 600 loans in our database.
Why you can trust our research
275
personal loans assessed
339
car loans assessed
22,104
data points analysed
Selection criteria
Providers were included in the categories if their products were currently available, Finder had a full data set for the previous 12 months, and met the following criteria:
- Personal Loans - Secured: Not a car loan, requires security and has a valid interest rate.
- Personal Loans - Unsecured: Does not require security and has a valid interest rate.
- Car Loans - New: Car loan available for new vehicles.
- Car Loans - Used: Car loan available for used vehicles.
- Car Loans - Electric Vehicles: Car loan specifically for "green" or "electric" purposes.
Scoring
Metrics scored using either the tiered scores when dealing with categorical data points or a dynamic scoring when dealing with numeric data. Finder's dynamic scoring means a product's metric is scored in comparison to the data points of all the other competitor products.
| Features | Scoring method |
|---|---|
| Interest rate | Dynamic scoring |
| Monthly service fee | Dynamic scoring |
| Application fee | Dynamic scoring |
Weights
| Features | Unsecured | Secured | New car | Used car | Electric car |
|---|---|---|---|---|---|
| Interest rate | 70% | 70% | 80% | 80% | 80% |
| Monthly service fee | 15% | 15% | 10% | 10% | 10% |
| Application fee | 15% | 15% | 10% | 10% | 10% |
Final award score
The final award score is calculated by first calculating a score for each of the previous 12 months. This evaluates each product against the competing products in those particular months. This score is calculated by multiplying the score for each metric by the weight percentage and summing the weighted scores:
The final award score is calculated by taking a weighted average of the monthly scores with more recent months being weighted progressively more. This final award score is then ranked to determine the overall winners for each category.
Ties
In the event of a tie between two loans, Finder uses profile-based scoring to decide a winner.
More guides on Finder
-
Simplify Used Car Loan
Simplify Used Car Loan.
-
Simplify New Car Loan
Simplify New Car Loan.
-
Australian Vs. USA car prices 2017
Aussies are paying up to 185.14% extra for vehicles compared to our American friends.
-
Car loans for classic cars
Want to buy a classic car but don't have the ready money? There are still financing options available for classic vehicles. Find out what loans you have to choose one and which one will work best for you.
-
Tesla buying guide
If you're looking at purchasing a Tesla – Model S, Model X or Model 3 – this guide will show you how to choose a vehicle and make your purchase.
-
How do you sell a car under finance?
Read the guide on how to sell an encumbered vehicle to find out the extra steps involved.
-
Tesla Superchargers Map: Where you can charge in Australia
Find out the extent of Australia's Tesla Supercharger network with our complete map of every charging station.
-
How Uber car loans can help you get on the road
Need a new loan for your next Uber car? Find out what is on offer here.
-
Macquarie car loans
Get funding for a new or used car, motorbike or caravan as well as access to a complimentary car-buying service with a Macquarie Car Loan.
-
Bad credit car loans Australia
Have bad credit but still need a car? There are a range of lenders that will consider you for a loan. Find out how to apply and how you can get approved in this guide.