online car loan approval

Online Car Finance Quote

If you are looking for a car loan, comparing online car finance quotes is one of the most convenient ways for you to shop around for the best deal.

If you plan on acquiring a new or used car, you obviously want to compare what the market has to offer. It’s quite easy to get caught up with new features and the smell of a new car, but it’s always wise to put the excitement aside and compare what different financiers have to offer. Most people resort to financing when buying a car, so it makes sense to compare quotes to ensure you get the best possible deal.

Gone are the days when you had to walk from lender to lender in a bid to compare rates. You can now conveniently get car finance quotes online.

Calculate how much you could borrow

Before you get a quote for your next car, it could be a good idea to know how much you could borrow. Use the calculator below to get an estimate of your borrowing power

How does an online car finance quote work?

Online car finance quotes help you get the right financing for your car loan. They also give you an upper hand when it comes to negotiating a better rate since you have a basic understanding of what the average interest rates and fees are. You are able to get a clear picture of the financial implications of a car loan, allowing you to make an informed choice.

Online car finance quotes work as follows. The first step is for you to provide lenders with your personal and financial information, along with the details of the car you wish to acquire. Each lender will then provide an overview of the type of loan you’d qualify for. You simply need to look for lenders’ sites and click on the link to obtain an online quote. The site will give you a list of the car loans provided by the lender and you can check out the application fees associated with each option.

Best car loan comparison*

Rates last updated September 24th, 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.
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.
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.
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.
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.
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.
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.
CUA Secured Fixed Car Loan
6.79% (fixed)
6.92%
$5,000
1 to 7 years
$0
$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.
MyState Secured Personal Loan
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$10
$200
You'll receive a variable rate of 7.99% p.a.
A secured loan up to $75,000 that you can have up to years to repay. Early repayments and redraw facility available.
People's Choice CU Car Loan
From 5.64% (fixed)
5.99%
$20,000
1 to 10 years
$0
$250
You'll receive a fixed rate of 5.64% p.a.
A lower interest rate when you're borrowing over $20,000. Benefit from pre-approval and no monthly fees.

Compare up to 4 providers

How to use a car finance quote to make a decision

The main aim of getting online car finance quotes is to find a lender that is most suitable for your needs. It’s advised that you compare quotes from at least three lenders before you settle on one. The most important considerations to look out for are interest rates, monthly repayments, loan term and the fees applicable with the car loan. You can use a comparison table to help you identify exactly how much the loan will cost you in the long run. You can also weigh up the pros and cons of fixed or variable interest rates to determine which option suits you better.

Online quotes will also help you compare the features that come with these loans. For example, you can find out if a certain lender allows extra payments and redraws. At the end of it all, these quotes will help you get the best car loan product.

Pros and cons of online car finance quotes

Pros

  • Convenience. You don’t have to move from one financial institution to another looking for quotes. All you have to do is provide the information required and have your quote delivered to your inbox. This is a convenient and less stressful way of getting quotes.
  • Easy budgeting. Online car finance quotes are beneficial even when you are just thinking of buying a car. They help you to start preparing early since you get an idea of what you would be required to pay for the loan on a monthly basis and in the long run.
  • Better decision making. By comparing quotes, you are able to make an informed decision on the most suitable car loan provider.

Cons

  • Poor decision making. There are far too many lenders online and the abundance of quotes may lead you to make a poor decision on a lender. It helps to work with recognised lenders you can trust.

Things to be way of when getting a quote

  • False information. When requesting an online car finance quote, the information you provide must be factual. Providing false information may lead to a lender disqualifying your application.
  • Overpricing / underpricing. Do not overprice or underprice the cost of the car you intend to buy. Remember that the value you provide will contribute to the quote that you will be given, and you need a quote that you can actually use.
  • Settling. Do not settle for the first quote you come across. The whole point is to compare what different lenders have to offer to get the best deal.

How to obtain an online car finance quote

The information required when filling out an online car finance quote includes:

  • The details of the car you wish to buy, such as the make, model, year, condition and where you are buying it.
  • Your financial details. In this section you will list the loan amount and term that you require, as well as indicate whether you have any assets and liabilities.
  • Your personal details. You will need to include your full name, address and contact details.

Once you are done filling in these details, simply submit your quote and wait for a response.

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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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