Best Car Loans

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, updated on July 4th, 2023       

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Compare the best car loans in Australia

At Savvy, we can help you find the best car loans on the market. Our extensive lender panel allows us to draw from a wide and diverse range of products and lenders when sorting through the top offers to fit your needs. 

Many Australians look to car loans as a way to help them buy their new vehicle, so it’s important to know the right place to go to compare the lowest interest rates and find products tailor-made to your situation. Get a quick quote today and compare your options with Savvy.

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Our car loan features and benefits

Competitive interest rates

With car loan interest starting at low rates from a range of lenders, we can help you access low interest car loans from across the market and save.

Borrow up to your car’s maximum value

Financing is available up to the value of your car from as little as $5,000, affording you access to a wide range of vehicles for purchase.

Weekly, fortnightly or monthly repayments

You can customise your repayments to fit around your own income requirements, adding flexibility to your monthly instalments.

1-7 years flexible loan terms

With flexible options available for term lengths, you can dictate the cost of your repayments by opting for a period between one and seven years.

Free additional repayments

For a $30,000 loan at 5.0% p.a. over five years, you can save over $650 and slash ten months off your term by paying an extra $100 each month.

Fixed repayments

With a fixed interest rate, you can not only enjoy savings across your loan, but carry a degree of certainty around your payments and budget more accurately.

Diverse range of cars to finance

We can arrange financing for either a new or used car, opening up more possibilities for you. All that it’ll need to be is not written off in the past and made in Australia or imported here by its manufacturer.

Low or no early exit costs

We work with lenders who can reduce or waive early repayment fees, so your broker will help you find one and pay off your loan as quickly as you like.

Why you can trust Savvy to find the best car loans for you

How to access the best interest rate on your car loan

Frequently asked car loan questions

How do I apply for the best car loan?

Your application starts by telling us about yourself, such as how much you’re looking for, the car you want and your personal financial situation. From there, our smart technology matches you with ideal lenders and your broker will select the best options for you to choose from. We handle the submission of your application to your lender to ensure that it passes all of their checks and maximises approval chances. You’ll receive your loan offer shortly after and go on to choose your car. After everything has been approved, you’ll sign the agreement and take ownership of your car.

How quickly will I receive the money for my car loan?

From quick quote to the funds being transferred to your seller, we’re able to conduct the process of applying for and settling your car loan in as little as 48 hours. This is particularly useful if you want your car straight away, either because you need it for travelling to work or taking kids to school or simply for peace of mind. Having all of your documents ready and applying early in the day are great ways to maximise the potential for your car loan to be completed in 48 hours.

What are the best ways to compare between car loans?

When presented with your options by your Savvy broker, there are a number of important ways you should compare your car loan. Interest rates and fees are two of the big ones, as these dictate how much you’ll be paying for your loan. Your Savvy broker will always choose from the most affordable options in terms of rate and fees, so you can compare from these. Additionally, you can compare choices based upon the available loan terms, monthly repayments and minimum borrowing amounts, as well as its other features like flexible repayment schedules and the ability to make deposits.

Can my car loan interest rate change at all during my loan term?

No – because your interest rate is fixed, your rate doesn’t have any scope to fluctuate throughout your loan. This is the case for variable rates on loans, so they’re more susceptible to rises and falls and are less stable, but we exclusively offer fixed rates on our car loans and ensure repayment stability for our customers.

Is it best to buy my car from a private seller or a dealership?

Both come with distinct advantages: cars bought from dealerships can often come with slightly lower interest rates, while private seller vehicles tend to be cheaper to buy and come with greater scope for negotiation on price. We can arrange financing for cars purchased from any source at competitive rates, so you won’t have to worry too much about vast differences between the two.

What are the best car loans for self-employed workers?

This depends on how you’re looking to use your car. If you’re looking for a private, personal-use car, self-employed workers can supply their two most recent years’ worth of tax returns instead of payslips to qualify for a standard consumer car loan. If you want a car for business use, you can look to commercial car loan products like chattel mortgages, car leases or hire purchases. However, if you can’t produce the required tax returns, you can also look to take out a low doc car loan, which allows you to provide alternate documentation such as your ABN, BAS and profit and loss statements. Low doc car loans require business usage, so you’ll need tax returns if you wish to take out a loan for a private-use car.

Can I cover other on-road costs with my car loan?

Yes – costs such as car registration, stamp duty, extended warranties and your comprehensive insurance policy are all costs that can be covered in addition to that of your car.

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