Harmoney car loan

A fast, flexible low interest car loan that’s 100% online? Check out the Harmoney Car Loan and see why marketplace lending is changing how we borrow.

Harmoney is a leading Australasian marketplace lending website, matching people who want to borrow with those seeking to invest. The Harmoney Car Loan offers a low interest rate, flexible terms and easy online application.

Product NameHarmoney Peer-to-Peer Car Loan
Interest Rate (p.a.)From 6.99% (fixed)
Comparison Rate (p.a.)7.69%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max Loan Amount$70,000


  • Competitive, tailored rate
  • No penalties for early payments
  • Loan is unsecured


  • $500 upfront fee
  • Ongoing service fee

Main points to consider with the Harmoney P2P Car Loan

Harmoney offers unsecured loans on 36 or 60-month terms and fixed interest rates from 6.99% p.a., but the interest rate you receive depends on your credit rating. While this loan is unsecured, depending on your credit rating the rates are comparable to secured car loan rates.

Loans range from $5,000 up to $70,000 and you usually have your money within 24 hours after the online application is approved. Provided you submit your repayments on time, the Harmoney Car Loan is flexible with only one upfront fee. While there are minimum monthly repayments, there are no penalties if you choose to pay your loan out early.

Features of the Harmoney Car Loan

  • Competitive, tailored interest rate. From 6.99% p.a. (comparison rate 7.69% p.a., based on an unsecured personal loan of $30,000 over 5 years).
  • Flexible conditions. Choice of loan amount from $5,000 to $70,000 on 36 or 60-month terms.
  • Early payout option. No penalties if you pay your loan off early.
  • No hidden fees. Just one upfront Platform fee of $500 providing you make your repayments on time.
  • Unsecured loan. Not tied to an asset such as a house or car.
  • 100% online application. Fast, simple online application process with 95% of car loans funded within 24 hours.

Fees and charges

Fees and charges that apply to Harmoney Car Loans include:

  • Platform fee. An upfront, one-off Platform fee of $500 added to the loan amount and paid to Harmoney once the loan is settled (also applies to loan top-ups).
  • Dishonour fee. If a repayment is dishonoured a $15 fee will be charged to your account and due with your next payment.
  • Legal fees. Any legal and associated third party costs incurred by Harmoney if enforcement action is required.
  • Service fee. Investors pay an administration fee of 1.25% of the principal and interest payments collected on each fraction, which is deducted from repayments into the investor account.

How to apply for the Harmoney Car Loan

To start the application process for your Harmoney Car Loan, simply click Go to Site. You’ll need to be eligible for the following criteria:

  • You must be an Australian or New Zealand citizen or permanent resident aged 18 years or older.
  • You must have suitable ID including a valid Australian or New Zealand driver licence or passport.
  • You must have a regular income or sufficient funds to repay the loan.
  • You must have an acceptable credit record as determined by Harmoney.

The documents required to support your loan application include proof of identity such as a driver’s license and passport and proof of income including payslips or bank statements.

Applying for your Harmoney Car Loan involves 3 simple steps:

  • Application. Complete the fast and easy loan application process.
  • Assessment. Your suitability is assessed and an interest rate is assigned based on your individual circumstances.
  • Investment. Once approved, you’ll be asked to share your story with Harmoney’s investors (i.e. why you want the loan), who’ll then fund it within 24 hours.

It’s important to shop around for car loans before settling on a particular product. With its low interest rate, limited fees and early payout option, the Harmoney Car Loan is sure to compare favourably.

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