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Range Rover finance options

Compare Range Rover finance options and get the best deal for you.

When only a Range Rover will do, it's time to compare Range Rover finance options to find the best deal for you.

Founded by Land Rover, Range Rover was developed to fill the niche of luxury 4x4 vehicles. An increasingly popular brand with those who desire the luxuries of a higher-end vehicle with 4x4 capabilities, Range Rover continues to introduce innovative designs and features to its 4x4 range.

Popular models of Range Rover available in Australia

Following the release of the Range Rover Evoque to Australian shores in 2011, Range Rover has enjoyed increasing popularity of its Australian releases, which also include the Range Rover Vogue and the Range Rover Sport

How much does it cost to buy and run a Range Rover?

Initial purchase cost

According to Redbook, the cost to purchase new 2018 Range Rover models in Australia is as follows:

  • 2018 Range Rover Evoque from $56,050
  • 2018 Range Rover Sport from $95,100
  • 2018 Range Rover Velar from $70,662

Fuel efficiency

According to information provided by the Australian government's Green Vehicle Guide, the Range Rover and Range Rover Sport are both relatively fuel-efficient, with a minimum urban fuel consumption of 5.8 litres per 100 kilometres each. The Range Rover Evoque ranks next with a minimum urban fuel consumption of 6.9 L/100km, followed by the Range Rover LWB at 7.8 L/100km.

The ATO defines a fuel-efficient car as one with a fuel consumption of 7 L/100km or less, causing the Range Rover, Range Rover Sport and Range Rover Evoque to fall into the category, with the Range Rover LWB falling just outside the definition of a fuel-efficient car.

Compare car loans suitable for purchasing a Range Rover

Updated August 24th, 2019
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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
5.49% (fixed)
5.84%
$2,000
1 to 7 years
$250
$0
You'll receive a fixed rate of 5.49% 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.
6.99% (fixed)
8.1%
$5,000
1 to 7 years
$295
$10
You'll receive a fixed rate of 6.99% p.a.
Finance a new or used car up with loans from $5,000 and benefit from flexible repayments.
From 4.99% (fixed)
5.54%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.99% 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.
From 5.34% (fixed)
6.6%
$7,500
1 to 7 years
$459.20 (for private seller vehicles this fee is $608)
$8.90
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $150,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
From 5.69% (fixed)
6.39%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.69% 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. Note: Product only available to residents of Victoria.
5.69% (fixed)
5.97%
$25,000
1 to 7 years
$175
$0
You'll receive 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.
8.49% (fixed)
9.67%
$10,000
1 to 7 years
$250
$12
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.
From 8.49% (fixed)
9.6%
$3,000
1 to 5 years
$195
$12
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.
From 5.71% (fixed)
6.57%
$1,000
1 to 7 years
$100 (from $100 to $500)
$10
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.
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.
From 7.99% (variable)
8.96%
$10,000
1 to 10 years
$200
$10
You'll receive a variable rate from 7.99% p.a.
Apply for up to $75,000 and benefit from features such as fast approval, free online redraws and no penalties for early repayment.
6.45% (variable)
6.59%
$10,000
1 to 7 years
$100
$0
You'll receive a variable rate of 6.45% p.a.
Finance 100% of the purchase price of a new or used car up to 3 years old with a loan starting from $10,000
6.69% (fixed)
7.04%
$2,000
1 to 5 years
$250
$0
You'll receive a fixed rate of 6.69% 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.
From 5.69% (fixed)
6.39%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 5.69% p. a.
Purchase a new car with this loan and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
From 4.79% (fixed)
5.34%
$10,000
1 to 7 years
$400
$0
You'll receive a fixed rate of 4.79% p.a. with a comparison rate of 5.34% p.a.
Get access to over 20 providers to fund a new or used car.

Compare up to 4 providers

Other costs to consider

  • Repairs and servicing. Ongoing servicing can protect your investment and prevent small problems from becoming costly repair jobs.
  • New car extras. The advertised sticker price of a car generally does not include any extras, so keep in mind that if you opt for automatic transmission, metallic paint, ABS or a greater engine capacity, you need to be prepared to pay more (sometimes significantly more) than the original advertised price.
  • CTP and motor vehicle insurance. Compulsory third party insurance (CTP insurance) is a legal requirement in all Australian states and territories, while other forms of car insurance are not required but can be a good idea to protect the value of your asset should something happen to your car.
  • Dealer delivery. Dealer delivery costs can vary significantly and are set by the dealer. The costs include all expenses related to transporting a new car from the manufacturer to you.
  • Stamp duty. Sometimes known as motor vehicle duty, motor vehicle stamp duty or vehicle registration duty, stamp duty can be a considerable expense. When working out how much stamp duty you will need to pay, use this motor vehicle stamp duty calculator which takes into account the cost of the car and the Australian state or territory in which you live. Stamp duty is payable for new and used vehicles and covers the costs of transferring a car from the seller to the buyer.
  • Finance costs. If you need finance to purchase your new Range Rover, there will be costs associated with different types of Range Rover finance options. Find out more information in the next section.

What types of Range Rover finance options are available?

Once you've decided that a Range Rover is perfect for you, the next step is to weigh up your Range Rover finance options. There are plenty of different ways to obtain finance to buy a new car and the best choice for you will depend on your individual circumstances.

Some of the Range Rover finance options available to you could include:

Pre-approved car loan

Some lenders offer a pre-approved car loan, which can greatly assist when comparing car options since you'll know exactly how much you can borrow. While not all lenders will give pre-approval, if you'd like to know exactly how much you have to spend and how much bargaining power you have when negotiating the price of a new car, consider lenders that do offer a pre-approval service.

Unsecured car loan

An unsecured car loan tends to come with a higher interest rate and a shorter loan term than a secured loan but can offer more flexibility in terms of how you use the loan funds.

Secured car loan

A secured car loan involves using your new car as security for the loan and can attract a lower interest rate and other advantages since it poses less risk to the lender.

Mortgage redraw

If you have been building up savings in a home loan offset account or redraw facility in your mortgage, consider using these funds to purchase your car. However, make sure to calculate how much you would have saved on your home loan had you not redrawn the funds and how this amount compares to the total cost you might have paid with another form of car finance.

Mortgage refinance

If you have sufficient equity in your mortgage, it could be worth considering refinancing your home loan. Refinancing involves moving your existing mortgage to a new lender or a new loan product offered by your existing lender at a lower interest rate or other more favourable terms. Doing so can release some of the equity in your home to allow you to purchase the car while locking in a better rate for the remainder of your mortgage. Mortgage refinancing can be a good option for people whose credit score or circumstances have improved since the mortgage was initially taken out, or if the value of the property has significantly increased. Keep in mind that mortgage refinancing will usually involve having your home revalued, and be aware of early exit fees and other refinancing fees.

Credit card

The thought of racking up thousands of dollars of credit card reward points may be tempting, but it's important to consider all the implications of using your credit card to purchase a vehicle before you go ahead. Credit cards are renowned for disproportionately high interest rates compared to other types of Range Rover finance options, and what started out as a good deal on the car of your dreams could blow out to a much more expensive purchase if not managed properly. Before using your credit card to make a big purchase, make sure you fully understand how your credit card works, including interest rates, credit limits and other fees and charges, then compare your options to make sure you don't end up paying more than you expected. If you're considering taking out a new credit card to fund the purchase, take the time to compare credit cards to get the best deal.

Novated lease

A novated lease can be a popular car finance solution for employees on a relatively high salary, effectively reducing your taxable income while giving you access to a leased car. Keep in mind that you will still need to pay fringe benefits tax on the payments and this additional cost must be weighed against any income tax savings brought about by the lease agreement. The amount of fringe benefits tax paid depends on the number of kilometres you drive, with novated leases typically benefiting employees on high salaries with relatively high kilometre rates per year.

Chattel mortgage

Available to business buyers, a chattel mortgage is a form of secured finance that can bring with it interest rate discounts compared to unsecured finance. Business buyers should also keep in mind the recently renewed Australian government small business tax break offer.

Commercial hire purchase

A commercial hire purchase arrangement involves making regular repayments over the term of the lease period and then purchasing the car outright by making a balloon payment.

Range Rover dealer finance

Range Rover offers a number of finance options for business and personal use. Find out more about how to choose between dealer finance and other forms of car finance.

  • Consumer loan. Up to 100% of the cost of a new Range Rover can be financed subject to lending criteria, at a fixed interest rate and with a flexible loan term between 1 and 7 years. The loan is secured by the Range Rover itself and no annual or ongoing fees apply. You can choose to make a deposit at the start or set a balloon payment for the end of the loan term to reduce your ongoing repayments.
  • Novated lease. Range Rover offers a salary packaging option whereby your employer makes payments from your pre-tax income for an agreed period of time. No upfront payment is required, with insurance, on-road costs and registration included in the loan amount. No annual or ongoing fees are payable and lease terms can be negotiated up to five years. At the end of the lease term, you have the option to upgrade to a newer Range Rover.
  • Business finance. Range Rover offers three types of finance for business customers: chattel mortgage, finance lease and hire purchase. A chattel mortgage requires an initial deposit and a balloon payment at the end of the term, with depreciation being tax-deductible and GST payable on the cost of the car. A finance lease involves no upfront deposit but does include a balloon payment at the end of the term. Repayments are tax-deductible, with GST payable on all repayments. A hire purchase agreement includes a deposit and a balloon payment, with both depreciation and interest being tax-deductible. GST is payable on the repayments as well as the cost of the car itself. All three business finance options are secured by the Range Rover vehicle itself.
  • Guaranteed Future Value. A flexible finance solution, the Range Rover Guaranteed Future Value Program guarantees the minimum future value of the vehicle subject to certain conditions. After you have chosen your Range Rover, you set the term of the agreement, deposit amount and kilometre limit. At the end of the term, you have the choice to trade in your Range Rover for a newer model, with any equity in the trade-in value going towards the cost of the new car. Alternatively, you can retain the Range Rover by paying the balloon payment that was set in advance at the start of the agreement or return the Range Rover, provided it is within the preset kilometre limit and in an acceptable condition

Factors to consider when comparing Range Rover finance options

When comparing Range Rover finance options, consider the following points:

  • Interest rate. When you compare car loans, look for a competitive interest rate. However, there are other factors you must also consider.
  • Repayment frequency. Consider the frequency of your repayments to ensure that they suit your circumstances. For business buyers, consider the most convenient repayment schedule to suit your business's cash flow.
  • Balloon payment. Are you happy to make a balloon payment at the end of the loan term in exchange for lower ongoing payments throughout the loan? If so, make sure to budget for the balloon payment so it doesn't become unaffordable for you at the time.
  • Loan flexibility. Some loans are more flexible than others and will allow for early repayments or an upgrade to a newer model without penalty.
  • Loan term. Finance loan terms tend to range between one and seven years, while other forms of finance like a mortgage redraw or using a credit card could involve a different loan term.
  • Loan amount. Consider the total cost of the car when negotiating the loan amount and ensure that all costs will be covered.
  • Fees and charges. Compare application fees, ongoing fees and other charges that might arise.

How to apply for finance to buy a Range Rover

The process of applying for vehicle finance and the documents required will largely depend on the type of finance you choose and whether you are a private or business buyer.

If you are purchasing as an individual, the minimum eligibility criteria for vehicle finance is as follows:

  • Older than 18 years
  • Earning a steady income
  • Australian citizen or permanent resident

You may be asked for the following documents during the vehicle finance application process as a private buyer:

  • Ongoing expenses and credit card limits
  • Details of the vehicle, including its total cost
  • Proof of ID
  • Proof of income and employment
  • Details of other assets and liabilities

Frequently asked questions

What is the warranty period for a Range Rover?

Range Rover offers a 3-year, 100,000-kilometre warranty on all new Range Rovers, beginning from the first date of registration or the day the vehicle is delivered to the first owner, whichever occurs first.

Should I opt for a balloon payment as part of the loan structure?

A balloon payment is a residual amount owing on the loan after the regular repayments have been made. While a balloon payment will reduce the amount of your ongoing repayments, it is still an expense that must be budgeted for at the end of the loan term. If you don't wish to pay the balloon payment at the end of the term, you could sell the car or refinance the amount owing.

Can I still apply for a car loan with bad credit?

While traditional lenders like large banks and credit societies may not be as willing to consider a loan application from someone with a poor credit history, smaller lenders are often more likely to consider your current circumstances rather than concentrating on your history. Be prepared to pay a higher interest rate or to provide security for the loan in order to offset some of the risks to the lender.

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

You'll receive a fixed rate of 5.49% 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 Latitude New and Used Car Loan
Latitude New and Used Car Loan

You'll receive a fixed rate of 6.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 5.69% 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. Note: Product only available to residents of Victoria.

Logo for Stratton Finance New Car Loan
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 $150,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.

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