Compare Car Loan Rates
Compare car loan rates from Australia's leading banks, fintechs and manufacturer finance providers. Find the lowest rate for your vehicle and budget.
Car Loan Comparison
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Calculate your full ownership cost
Our car loan calculator shows repayments plus insurance, fuel, rego and servicing — the true monthly cost.
Consider a novated lease instead
Eligible employees can save on GST and income tax through a novated lease — often cheaper than any car loan.
How to Compare Car Loans in Australia
Car loan rates in Australia range from under 5% for manufacturer finance on new vehicles to over 25% for unsecured loans or borrowers with poor credit history. Choosing the right lender and loan type can save thousands of dollars over the life of your loan.
Secured vs unsecured car loans
A secured car loan uses the vehicle as collateral, which reduces the lender's risk and typically results in a lower interest rate. An unsecured car loan requires no collateral but usually comes with a higher rate. Most car loans in Australia are secured against the vehicle being purchased.
Manufacturer finance — is it worth it?
Car manufacturers often offer promotional finance rates — sometimes as low as 0% to 3% — on new vehicles. These deals can be excellent value but typically require you to buy a specific model, may come with a balloon payment, and are only available on new cars. Always compare the total cost of the loan including any balloon payment against standard lender rates.
Car loan vs novated lease
If your employer offers salary packaging, a novated lease can be significantly cheaper than a standard car loan. With a novated lease your employer pays for the car and running costs from your pre-tax salary — saving you GST on the purchase price and reducing your taxable income. Use our novated lease calculator to see how much you could save compared to a standard car loan.
Tips for getting the best car loan rate
- Check your credit score before applying — a higher score means a lower rate
- Get pre-approval before visiting a dealership so you know your budget
- Compare at least 3 lenders before accepting any finance offer
- Be cautious of balloon payments — they lower repayments but increase total cost
- Avoid dealer finance unless you have compared it against independent lenders
Use our car loan calculator to see weekly, fortnightly and monthly repayments.
All information is general in nature and does not constitute financial advice. Rates are indicative only. Please consult a licensed financial adviser before applying for any loan.