Car Loans Adelaide

Explore your car finance options in South Australia and compare a range of lenders with Savvy.

Written by 
Bill Tsouvalas
Bill Tsouvalas is the managing director and a key company spokesperson at Savvy. As a personal finance expert, he often shares his insights on a range of topics, being featured on leading news outlets including News Corp publications such as the Daily Telegraph and Herald Sun, Fairfax Media publications such as the Australian Financial Review, the Seven Network and more. Bill has over 15 years of experience working in the finance industry and founded Savvy in 2010 with a vision to provide affordable and accessible finance options to all Australians. He has built Savvy from a small asset finance brokerage into a financial comparison website which now attracts close to 2 million Aussies per year and was included in the BRW’s Fast 100 in 2015 as one of the fastest-growing companies in the country. He’s passionate about helping Australians make financially savvy decisions and reviews content across the brand to ensure its accuracy. You can follow Bill on LinkedIn.
Our authors
, updated on July 23rd, 2024       

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Happy man and woman driving in car

Are you looking for a car loan in Adelaide or elsewhere in South Australia? Whether you need a car for your commute, want a new ride to get you to the beach or just fancy a change, Savvy can help you with your finance needs. Based in Adelaide but serving all of Australia, we work with more than 40 reputable lenders across the country to help you find the best finance option on offer. Get in touch today for a free, no-obligation quote!

How do I get a car loan in Adelaide?

There are several steps involved in getting a car loan, from establishing your budget to finding the right lender. If you want to save yourself the hassle, turn to Savvy. We can compare dozens of loans and lenders on your behalf and our streamlined process ensures a stress-free experience from start to finish. Here’s how it works:

  1. Online enquiry: begin by filling in our user-friendly online form. Provide essential details about yourself and the loan you’re after, such as the desired loan amount, term length, residency, employment status and credit history. This should only take a few minutes.
  2. Consultation: one of our seasoned car loan brokers will get in touch. They'll discuss your requirements and determine your eligibility.
  3. Documentation: if you’re eligible, it's time to gather necessary documentation. This may include ID, proof of address, payslips or bank statements. It doesn’t matter where you are, you can submit everything online.
  4. Loan procurement: leave the legwork to us. Your dedicated consultant will assess your submission and tap into our extensive network of lenders to secure the best deal for you. Rest assured, we've got your back every step of the way.
  5. Application and approval: if you’re happy with the loan terms and conditions, we'll submit your application for approval. With many lenders, you could receive the green light within just 24 hours. Once approved, it's time to sign the paperwork and finalise the settlement with the seller for your new car. Then all you need to do is get behind the wheel!

How much does a car loan cost in Adelaide?

According to the Australian Automobile Association (AAA), the average weekly cost of a car loan in Adelaide was $208.84 in Q1 2024. However, how much your loan will actually cost depends on a number of factors, particularly:

  • Car value: the value of the car directly affects the loan amount you need to borrow. For example, if you're buying a more expensive car, you'll need a larger loan.
  • Interest rate: a higher interest rate means you'll pay more in interest over the life of the loan.
  • Fees and charges: loans may come with various fees and charges, such as application fees, that can add to the overall cost of the loan.
  • Loan term: a longer loan term typically results in lower monthly repayments but often means paying more in interest over time.
  • Down payment: making a down payment lowers the amount you need to borrow for the car purchase and consequently the total cost of the loan.

If you live in South Australia, there are a several other costs to consider when you buy a car. These include:

Stamp duty: in SA, the amount of stamp duty you pay depends on the value of your car and its classification. Find out more here.

Registration: the amount you pay depends on the type of vehicle you drive and whether you live in a metropolitan area or the country. Registration fees also include CTP insurance. Find out more here.

Car insurance: most car loan agreements require you to take out comprehensive car insurance.

Fuel: fuel makes up a substantial portion of you car running costs; according to a survey by Savvy, 50% of South Australian surveyed pay between $61 – $90 a week on petrol.

Servicing and maintenance: while Adelaide is the cheapest city for car servicing at $29.56 per week, according to the AAA, it is important to factor in regular maintenance costs and unexpected repairs.

How do I find the best car loan in Adelaide?

When seeking a car loan in Adelaide, Mount Gambier or anywhere else in SA, it's crucial to explore your options before making a decision. Take the time to compare offers based on key factors such as:

  • Interest rate: a lower interest rate can translate to significant savings over the life of the loan.
  • Fees and charges: these additional costs can impact the overall affordability of the loan.
  • Comparison rate: the comparison rate encompasses both the interest rate and any associated fees, providing a more accurate representation of the total cost of the loan.
  • Loan term: the length of the loan term can significantly influence the total cost of your car loan when factoring in interest payments. While a longer term may result in lower monthly payments, it may also lead to higher overall interest costs.

The examples below for a $45,000 vehicle can help give you a better understanding of how these elements can affect the cost of your loan:

Scenario #1: low interest Scenario #2: high interest Scenario #3: shorter loan term Scenario #4: longer loan term
Interest rate
5%
12%
7%
7%
Comparison rate
5.5%
13.5%
7.5%
7.5%
Loan term
4 years
4 years
2 years
7 years
Monthly payment
$1,046.54
$1,218.43
$2,024.98
$690.22
Total interest & fees paid
$5,233.99
$13,484.86
$3,599.56
$12,978.68

Ultimately, the best car loan is one that aligns with your income, expenses and individual circumstances. Before applying, establish a clear budget, including monthly repayment limits and any upfront costs like a deposit or fees. Seeking guidance from car finance experts such as Savvy can also provide valuable insights and support throughout the loan process. By carefully considering these factors and seeking the right advice, you can find a car loan that best meets your needs.

Why choose Savvy for your Adelaide 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

The typical eligibility requirements for a car loan in Adelaide

Your frequently asked questions about car loans in Adelaide​

How do Adelaide car loan interest rates work?

Lenders base car finance interest rates on a range of factors. Secured car loans from Savvy come with lower interest rates than finance agreements like personal loans where you provide no collateral to lenders. All lending is costed on the basis of risk. That means, the more security you provide, the less you’ll pay in charges. When you take out a secured car loan in Adelaide, the loan provider will check that the value of your car covers your borrowing too – to assess whether it offers adequate security. That can mean newer cars attract lower interest rates.

Do I have to buy a brand-new vehicle with an Adelaide car loan?

No. You can use a range of car finance products to buy either new or used vehicles up to a certain age. However, be aware that lenders may charge higher interest rates for purchasing older cars. The cheapest deals will generally get offered for cars that are new or just a couple of years old when you purchase them.

Can I use my old vehicle or cash as a deposit?

You can borrow 100% of your new car cost, or choose to use an old car as a trade-in, to reduce repayment amounts by minimising how much you borrow. Trading in your old vehicle can also save you the hassle of selling it privately. Using a cash deposit is an excellent method of bringing down the cost of borrowing, but it's by no means compulsory.

How long will it take me to pay back my car loan?

Savvy partners with specialist car loan lenders to bring you a range of flexible repayment options. In Adelaide, car loan agreements run between just twelve months and seven years. Deposits are not compulsory, and you can choose to borrow the entire cost of your new car. However, in terms of what you pay and how long for, a deposit can add some flexibility. For instance, you can use one to reduce the amount you repay on a monthly basis – or you can keep the repayment amounts but reduce the term of the loan instead. At Savvy, we have a car loan option to suit most budgets, financial goals and circumstances.

I’m not yet sure which car I want to buy – how do I know I’ll get approved?

At Savvy, we help lots of Adelaide car buyers get pre-approved for car finance – and then eventually go on to buy the vehicle they want. Getting pre-approved for a car loan in Adelaide is easy. Lenders will assess your situation and borrowing power by making a soft enquiry about your credit rating (which doesn’t show on your report) and they’ll also look at your finances, regular spending and earnings so they can let you have a ceiling amount in terms of what you can borrow. You’ll then be free to shop around – using auction sites, private, and dealership sales. Loan pre-approvals carry no obligation to go ahead with finance.

Are there any government incentives for EVs in South Australia?

South Australia’s subsidy scheme, which offered a $3,000 subsidy on new battery electric and hydrogen fuel cell vehicles, closed on 1 January 2024. However, certain electric vehicles registered before 30 June 2025 are still eligible for a three-year registration exemption.

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