Mortgage Choice Car Loan

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. Mortgage Choice offers brokerage services in home loans and business loans, as well as services in the fields of financial planning, and products such as credit cards and insurance. When it comes to finding your next car loan, Mortgage Choice might be able to help.

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.

Rates last updated October 23rd, 2018
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Monthly Service Fee Application Fee Product Description Monthly Repayment
Latitude Motor Vehicle Loan
From 6.99% (fixed)
8.1%
$5,000
1 to 7 years
$10
$295
You'll receive a fixed rate between 6.99% p.a. and 14.99% p.a. based on your risk profile
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.
Loans.com.au - New Car Loan
5.44% (fixed)
5.99%
$5,000
3 to 5 years
$0
$400
You'll receive a fixed rate of 5.44% p.a.
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.
IMB New Car Loan
5.89% (fixed)
6.24%
$2,000
1 to 7 years
$0
$250
You'll receive a fixed rate of 5.89% 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.
Stratton Finance New Car Loan
From 5.29% (fixed)
6.56%
$18,000
1 to 7 years
$8.90
$459.20
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Beyond Bank Low Rate Car Loan
From 5.69% (fixed)
5.97%
$25,000
1 to 7 years
$0
$175
You'll recive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
St.George Secured Personal Loan - Fixed Rate
From 8.49% (fixed)
9.6%
$3,000
1 to 5 years
$12
$195
You'll receive a fixed rate from 8.49% p.a. based on the value of your car
Get a competitive rate and apply for a larger loan up to $80,000 when you attach a new or used car as security to the loan.
Westpac Car Loan
From 8.49% (fixed)
9.67%
$10,000
1 to 7 years
$12
$250
You'll receive a fixed rate of 8.49% p.a.
Finance a new or used car and benefit from convenient features for car buyers including a car search tool and the option to borrow extra for on-road costs.
RACV New Car Loans
From 5.99% (fixed)
6.55%
$15,000
1 to 7 years
$0
$399
You'll receive a fixed rate of 5.99% p.a.
A larger loan of $15,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Australian Military Bank Car Loan
From 5.71% (fixed)
6.57%
$1,000
1 to 7 years
$10
from $100 to $500
You'll receive a fixed rate between 5.71% p.a. and 8.66% p.a. based on your personal credit history
A flexible loan to help you finance a car, motorbike or boat up to five years old.
Latitude Personal Loan (Secured)
From 12.99% (fixed)
14.2%
$3,000
2 to 7 years
$13
$250 (Loans under $4000 - $140)
You'll receive a fixed rate between 12.99% p.a. and 28.99% p.a. based on your risk profile
Lock in a competitive variable rate when you offer security. Loan can be used for any purpose and repayments are flexible.
IMB Secured Personal Loan
6.89% (fixed)
7.24%
$2,000
1 to 5 years
$0
$250
You'll receive a fixed rate of 6.89% p.a.
Benefit from this competitive rate by securing the loan with a vehicle up to 6 years old. Use this flexible loan for any purpose.
Community First Credit Union New Car Loan - Variable
From 5.34% (variable)
6.1%
$10,000
1 to 7 years
$5
$195
You'll receive a variable rate of 5.34% p.a..
Finance a brand new car, demonstrator vehicle, boat, caravan or motorbike and benefit from a competitive variable rate. Loans from $10,000

Compare up to 4 providers

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Car Loan Offers

Important Information*
IMB New Car Loan

You'll receive a fixed rate of 5.89% 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.

Loans.com.au - New Car Loan

You'll receive a fixed rate of 5.44% p.a.
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

Latitude Motor Vehicle Loan

You'll receive a fixed rate between 6.99% p.a. and 14.99% p.a. based on your risk profile
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Stratton Finance New Car Loan

You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

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