Borrow up to $100,000 for 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 the loans.com.au car loan. The 100% Australian-owned and online lender offers a car loan with a competitive fixed rate and flexible loan terms.
3 things to know about the loans.com.au car loan
- Fixed interest rate. You will receive a fixed rate, meaning your interest payment will remain the same through the loan term.
- Flexible loan amounts. You can borrow from $5,000 to $100,000.
- Early repayment option. You can repay your loan early without penalty if you're in the last 12 months of your loan term.
|Product Name||Loans.com.au - New Car Loan|
|Interest Rate (p.a.)||5.44% (fixed)|
|Comparison Rate (p.a.)||5.99%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$100,000|
- Low interest rate
- Maximum loan amount of $100,000
- No ongoing fee
- Application fee of $400
- Further interest rate loading may be applied during credit assessment
Main points to consider with the loans.com.au car 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.
This is a fixed interest rate loan, meaning your repayments will stay the same for the duration of your term, which can be from three-to-five years.
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 from 5.44% 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 3, 4 or 5 years.
Fees and charges
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:
- Establishment fee. $400
- Early repayment fee. This will apply if the loan is paid off before the last 12 months of the loan term.
You will not pay an ongoing monthly fee and will not pay the early repayment fee if you pay off the loan within the last 12 months of the agreed term.
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