Loans.com.au Car Loans

From
fixed rate
From
comparison rate
- Early payout available
- No monthly ongoing fee
- Borrow up to $100,000
Loans.com.au Car Loans
From
fixed rate
From
comparison rate
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Having a car can make student life a lot more convenient, but finding the money to buy one can be hard. A student car loan gives you the funds you need to buy a new or used car.Find out if you can get a car loan as a student, what to look out for and compare your options below.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Calculate how much you could borrow with a car loan.
Straight to your inbox
A car loan is a financing option that lets you purchase a new or used vehicle. You borrow money to cover the purchase of the car, then repay the loan over a set period of time, generally one to seven years. You are charged interest on the loan, and this is added to your regular repayments.
You generally have the option of a secured or unsecured loan, although car loans are typically secured. This means the vehicle you purchase is used as security against the loan, and the lender can take ownership of the vehicle if you fail to make your repayments.
With an unsecured car loan, you don't need to use the vehicle as security. However, you'll generally receive a higher interest rate, as this type of loan represents more risk to the lender. This means you're also more likely to be approved for a secured car loan as a student.
As a student, you're able to get a car loan provided you meet the lender's eligibility requirements. This means you'll generally need to be at least 18 years old, an Australian citizen or permanent resident and have a job or regular source of income.
Some lenders may have additional lending criteria and will generally not lend money to applicants whose primary source of income is Austudy, Youth Allowance or Newstart.
What if I'm an international or exchange student?
Unfortunately most lenders require you to be an Australian citizen or permanent resident. If you're on a study visa or other type of visa, it's unlikely that you would be eligible for a loan, but it may be worth checking with the lender directly.
You should keep the following in mind when comparing student car loans:
If you're a student, you may be working part time or casually, have a lower income and have a limited credit history, which can make it difficult to get a car loan. Use the tips below to help improve your chances of getting approved for a car loan.
Once you've chosen the car you want to buy, you'll need to find the car loan that best suits your needs. It's important to understand your loan options, and what you'll need to do to give yourself the best chance of being approved.
1. Compare your loan options.
You will need to choose whether you want a secured or unsecured car loan and a fixed or variable interest rate. You should also compare a number of loans based on the rate, fees and features they offer.
2. Check the eligibility criteria.
You should ensure you meet the eligibility criteria before applying for a specific loan. If you don't, you're likely to be rejected, which can affect your credit score. Lenders usually require you to be over 18, have a regular income and have some form of employment to be eligible for a car loan.
3. Have your documents ready.
As part of your application, you will need to provide a form of ID, payslips and information regarding your employment and finances (income, expenses and debts). If you've chosen your car, you will need to submit the make, model and year, the VIN/chassis number, registration number and purchase price.
4. Submit your application.
Depending on the lender, you may receive a response within a couple of minutes. Other lenders may take a few days to review your application and approve or deny your loan.
If you're looking to get a car loan for a used car, you need to check that the car meets the age requirements of the specific lender.
Lender | Car loans | Vehicle requirements | More information |
---|---|---|---|
ANZ | ANZ Online Secured Car Loan | Car needs to be under 7 years old | More |
Beyond Bank | Low Rate Car Loan Flexi Loan | Car can be up to 6 years old Car needs to be over 6 years old | More |
CUA | Fixed Rate Car Loan | Car can be up to 7 years old | More |
IMB | Secured Personal Loan | Car can be up to 6 years old | More |
NRMA | NRMA Car Loan | No set limit | More |
RACV | RACV Car Loan | Car can be up to 10 years old | More |
St.George | Secured Personal Loan | Car must be less than 12 years old at loan expiry | More |
Suncorp | Secured Car Loan | Car must be less than 12 years old at loan expiry | |
Westpac | Secured Car Loan | Car can be up to 7 years old | More |
Read our guide to buying a used car
Picture: Shutterstock
Matt Corke is Finder's head of publishing for rest of world and New Zealand. He previously worked as the publisher for credit cards, home loans, personal loans and credit scores. Matt built his first website in 1999 and has been building computers since he was in his early teens. In that time, he has survived the dot-com crash and countless Google algorithm updates.
Find out about how to insure the luxury Mercedes-AMG G 63 4x4 SUV.
Compare soon-to-launch electric and hybrid cars.
Off the back of Christmas spending, a finance expert has warned that your Afterpay habits could negatively impact your home loan application.
Our experts crunch the numbers to help you work out the best place to park your money: is it your mortgage or your super fund?
One in four (25%) Australians are worried about how they will pay the rent or mortgage after Christmas, according to new research by Finder, Australia’s most visited comparison site. Find out how the Finder App can help save you money in 2021.
A UCapital unsecured business loan can provide up to $300,000 without security, with repayment terms between 3 and 12 months.
Find out how much dentures cost in Australia and how you can get cover with mid-level health insurance.
Lenders often give discounts to new borrowers, but not to loyal existing customers. Here's how to work out if you're being charged too much.
Find out more about AdvancePay, the Commonwealth Bank's new "pay on demand" platform accessible to creditworthy CommBank customers.
These are the 6 best mechanical pencils you can buy right now in Australia.
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.
You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
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.
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.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.