Why wait to buy a new car?
If you're looking for a competitive loan option to help you get into that new car sooner, you might want to consider this offering from loans.com.au. The 100% Australian-owned and online lender offers a car loan with a competitive variable rate and flexible loan terms. You'll have the ability to finance a car up to nine years old, but if you don't have your dream car in mind just yet, you can take advantage of the loans.com.au's car buying service.
|Product Name||Loans.com.au - Car Loan|
|Interest Rate (p.a.)||From 4.69% (fixed)|
|Comparison Rate (p.a.)||5.24%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||3 years|
|Maximum Loan Term||5 years|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$100,000|
|Monthly Service Fee||$0|
- Low interest rate
- Maximum loan amount of $100,000
- No ongoing fee
- Application fee of $400
- Interest rate only applies to new cars purchased through a dealership
- Further interest rate loading may be applied during credit assessment
What you need to know about the loan
The loans.com.au Car Loan is a secured loan, meaning the car you purchase will be used as security for the loan. You'll need to be looking to purchase a car that's worth at least $10,000, although you have the option of adding your on-road costs into the loan amount. There is a $400 establishment fee but you will be charged no ongoing monthly fees during the loan term, which can extend up to 5 year(s). This is a fixed interest rate loan, meaning your repayments will stay the same for the duration of your term.
If you’re looking to refinance an existing car, loans.com.au offers a competitive refinancing loan for vehicles valued at $30,000 or more that you might want to consider.
Features of the loans.com.au car loan
- Fixed interest rate. The loan comes with a competitive fixed rate of 4.69% p.a.
- Loan amount. You can borrow an amount between $5,000 and $100,000. If you’re looking to purchase a car cheaper than the minimum amount offered, you have the option of adding your on-road costs into the loan amount.
- Loan term. Borrow the money for a period of three, four, five or seven years.
- The car you buy. Don't know what car you want to buy? Take advantage of loans.com.au's car buying service. If you have your eye on a vehicle, make sure it's under nine years old. You can check the eligibility of your vehicle by clicking 'Go to site' on this page and entering your car's details.
- Pre-approval. You can find out if you qualify before making your vehicle purchase. Just enter your vehicle's and your personal details and find out if you're eligible for a loan.
Fees to consider
As with all loans, you will be charged certain fees with the loans.com.au Car Loan. Take a look at the breakdown of fees below:
Fees you will pay:
- Establishment fee: $400
Fees you won't pay:
- Monthly fee: $0
- Exit fee: $0
How to apply for the loans.com.au Car Loan
You can apply for the loans.com.au Car Loan by clicking "Go to Site". The application process should take approximately 15 minutes to complete. You'll need to be over the age of 18 and a permanent Australian resident to apply.
You’ll need to supply:
- Proof of identity
- Proof of income
- Details of your assets and liabilities
If you're interested in pre-approval, you can also click 'Go to Site' to access this service. If you're interested in pre-approval, you'll need to click through and enter:
- Your vehicle details. This includes the make, model, year and estimated purchase price.
- Your loan details. You'll need to inform loans.com.au of the purpose of your loan (new car, used car from private sale, refinancing) and your estimated loan amount.
- Your personal information. Including your name, country of residence, age, monthly after-tax income and details of previous loans.
If this sounds like the right loan for you, you can apply using the buttons above. Keep in mind, it's always important to compare your options before deciding on a loan that best suits your purposes.