Car Loans Perth

Keep things Savvy and find flexible, affordable car loans in Perth that match the way you live and drive.

No obligation. It won't affect your credit score.

Last updated on April 19th, 2022 at 03:13 pm by Thomas Perrotta

Low rate car loans Perth

Find your ideal car loan in Perth

With Savvy, you get more choice and that means lower car loan interest rates than anywhere else. If you’re considering car loans, Perth based and looking to save dollars – let Australia’s number one car loan brokers help you find the best deal from the widest choice of car loan lenders online. We can help you get approved more quickly, drive the car you want, and make your money go miles further. Be savvy, and don’t let new car costs mount up.

Drive the Savvy way and save money

Getting a great deal on a car is about more than just the price – it’s essential to get the best deal available on your finance too. At Savvy, we’ve developed long-term relationships with a myriad of loan providers. Our consultants take the tedium out of sourcing winning finance deals – so you can get on with enjoying your drive. If you’re thinking convenience and peace of mind, and you want to get unrivalled advice too – think Savvy!

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The features and benefits of a car loan with Savvy

Interest rates from just 3.99% p.a.

With comparison rates starting at 4.36% p.a., you can lock in a great deal and guarantee your low rate across the entirety of your loan term.

Choose your repayment term and schedule

You can choose between loan terms of one and seven years and make your loan contributions on a weekly, monthly or fortnightly basis.

Borrow up to your car’s value

Car loans come with a minimum borrowing amount of $5,000, but you can borrow up 100% of any vehicle’s value (provided you can comfortably afford to do so)

Buy from a dealership or privately

You’re not restricted to solely buying cars from dealerships. Our lenders can finance cars anywhere in Western Australia, bought from private sellers, opening up more options for you to purchase.

Available to different employment types

Whether you’re working full-time, permanent part-time, casual or even as a sole trader, there are car finance options that you can take advantage of.

Early repayment options

We can match you with top lenders who allow you to pay above the minimum monthly requirement and complete your loan term early.

Why you should go with Savvy for your car loan

Calculate car loan repayments

Your estimated repayments

$98.62

Total interest paid: $1233.43
Total amount to pay: $5,143.99

Disclaimer:  The results provided is an estimate only. Please read our Calculator Assumptions and Disclaimer for more information

A checklist for before you apply for a car loan in Perth

Car loans Perth FAQs

How do I apply for a secured car loan in Perth?
Applications are straightforward and carried out entirely online. You’ll get asked to provide some documentation, which may include payslips or bank statements, depending on your circumstances. Your lender will also ask for ID and proof of address, like a driving licence and utility bill. Everything gets taken care of as quickly as possible online.
How can I get the lowest interest rates on a car loan in Perth?
Choosing a secured car loan from Savvy is the first step to gaining access to lower interest rates. That’s because your new car provides security against your borrowing.
How else can I improve my chances of qualifying for car finance in Perth?
You can boost your application and gain access to a lower interest rate by showing a lender you’re in strong financial shape. Employment stability and type, your age, and even whether you own a house can all affect lender decisions about interest rates. Not only that, but the higher your credit score, the better the deal you’re likely to get offered – because it demonstrates to your lender that you’ve paid back credit on time in the past.
Will the age of my new vehicle impact the cost of my car loan?
Another great way to keep down the cost of a car loan is to limit your vehicle search to newer models. Many loan providers prefer cars that have seen fewer years on the road, because they’re more likely to provide security against your borrowing for the full term of your loan.
 
Many people don’t want to buy brand-new because of depreciation, and some estimates say a vehicle loses 20% of its value in the first year, so that can make sense. A good rule of thumb is that cars under three years old get the best car loan interest rates. Cars between three and ten years attract slightly higher rates, and the highest rates get reserved for cars older than that.
What's a balloon payment, and should I choose to use one?
Balloon payments, also called residual payments, are a feature of secured car loans designed to reduce regular repayment amounts. Many borrowers opt to include a residual amount at the end of their loan. That means you pay back less throughout the agreement.
 
When the loan ends, you can either refinance the balloon payment and keep driving, sell your car and pay off the residual, or repay the amount in cash – then buy a new vehicle. Residuals generally get calculated according to how long your loan runs for – and all lenders have their own guidelines. On a five-year loan, that’s around 30%, four years is approximately 40%, with up to 50% available for three-year loan terms.
I found the vehicle I want and got offered a 0% finance package at the car dealership. Should I just take that?
Zero per cent deals aren’t always all they seem to be. It’s wise to check out all your options before you commit to long-term car finance, and savings across different products can be huge. Car dealers often hike up the sticker price of a vehicle to cover 0% offers, and there can be substantial hidden fees, and components like balloon payments included too.
I use my vehicle for business a lot of the time. Is a secured car loan the right product for me?
If you use your car for business more than half the time, a car loan might not necessarily be the best option for you.
 
A chattel mortgage is a very tax-friendly way to buy for business users. With a chattel mortgage you get increased tax benefits. You can claim back any GST in the purchase price next time you lodge a business activity statement.
 
There’s also no GST on your repayments, which can help with cash flow. The interest portions of repayments are tax-deductible, and you get to claim for depreciation on the vehicle too.