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Mortgage Choice Car Loan

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Want to find the perfect car loan? Let Mortgage Choice steer you in the right direction.

If you're in the market for a car loan and need some help narrowing down on your best option, a car loan broker might be an avenue to consider. Brokers will look at your financial situation, the purpose of your loan – in this case, to finance a vehicle – and determine what features you need from the loan, and they will then find the best loan for you.

From (fixed)

Interest Rate (p.a.)

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Details

Product NameMortgage Choice Car Loan
Interest Rate (p.a.)From (fixed)
Interest Rate TypeFixed
Min Loan Amount$5,000

How does it work?

You apply for a loan, or pre-approval, through Mortgage Choice by submitting an online enquiry. Once a mortgage broker has been in touch with you to discuss your needs, a suitable loan will be sourced for you and financing processed. Financing time varies but can be in as little as two days. Pre-approval is on offer for applicants who haven't found the car they want to purchase yet. No deposit is required for your loan, but you can provide one if you wish.

The types of vehicles you can finance

Mortgage Choice provides financing options for a range of vehicles. The only requirements are that you're looking to finance Here's what they can help you find a loan for:

  • Cars - both new and old cars are accepted. For PAYG applicants, cars cannot be more than 12 years old at the end of the contract, and for self-employed applicants this increases to 15.
  • Motorbikes
  • Caravans
  • Boats

Features on offer with Mortgage Choice

  • Interest rate. All loans financed through Mortgage Choice are fixed rate loans, meaning you'll be able to budget your repayments as they'll remain the same throughout the loan term.
  • Pre-approval. Mortgage Choice lets you have the upper hand when searching for your car – get pre-approved for your loan and know how much to have to spend. Once you've found an eligible vehicle to finance, the funds will be drawn by the broker and the payment will be made.
  • Flexible eligibility criteria. Having a broker find your loan means that the best finance is found for you, no matter what your situation. Both PAYG and self-employed borrowers can apply, and you can also apply if you've got bad credit.
  • Range of vehicles you can finance. Whether you're looking for a boat, a caravan, a motorbike or a car, a Mortgage Choice broker should be able to source a loan for you. Both new and older vehicles are accepted.
  • Repayment terms. You'll have between two and seven years to repay your loan.
  • Flexibility of the loan amount. Depending on the lender you take out the loan with, you may be able to add insurance and your warranty in the loan amount.

What costs are involved?

Certain fees may be involved when applying for a loan with Mortgage Choice. You'll need to take into account the following:

  • Lender's application fee
  • Origination fee
  • Vehicle inspection fee (for private purchases)
  • PPSR (Financiers Security registration fee)
  • Stamp Duty (for applicants in NSW)
  • Monthly account-keeping fees
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How to apply for a car loan through Mortgage Choice

If you're interested in seeing the loan and lending options available through Mortgage Choice, you can submit a quick enquiry online. Make sure you meet the below eligibility criteria before you apply:

  • Over the age of 18
  • Australian resident
  • Earn a regular income – PAYG and self-employed accepted
  • Looking to borrow more than $5,000
  • Bad credit applicants are able to apply

Once you've checked you meet the eligibility criteria, you can click through to submit an online enquiry. You'll need to provide a few details, so have the following on hand:

  • A clear copy of your driver's licence (front and back)
  • A recent rates notice if you own property
  • PAYG applicants need to provide their last two payslips and a copy of the contract of sale for the car
  • Self-employed applicants also need to provide a trust deed (if applicable)
  • Commercial full-doc applicants need to provide recent financials (business and individual) and a trust deed (if applicable)

Alternatives to Mortgage Choice Car Loans

Comparing your options when dealing with any type of credit or finance is important. See how the Mortgage Choice Car Loan stacks up to the others in the market.

Data indicated here is updated regularly
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Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Note: Settle the loan before 30 November 2020 and enter the draw to win a $1,000 fuel voucher. Terms & conditions apply.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Credit Concierge Car Loan
From 4.45% (fixed)
5.29%
$10,000
1 to 7 years
$350
$5
You'll receive a fixed rate of 4.45% p.a. with a comparison rate of 5.29% p.a.
Get access to over 20 providers to fund a new or used car.

CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
NAB Personal Loan Unsecured Fixed
From 9.99% (fixed)
10.88%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 21.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p. a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$10,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
Driva Car Loan
From 4.34% (fixed)
5.5%
$2,000
1 to 7 years
$295 (Varies by lender, starting from $295)
$10
You'll receive a fixed rate from 4.34% p.a.
Borrow up to $250,000 with loan terms from 1 to 7 years. Get access to a range of lenders.
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Latitude Personal Loan (Secured)
From 6.49% (fixed)
7.75%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 6.49% p.a. and 19.49% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible.
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Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% 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.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.89% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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