Car Loans Brisbane

Compare a range of car finance deals with fast approvals, low rates and flexible repayments in Brisbane through Savvy today!

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 May 22nd, 2024       

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Man and woman happy in car

Looking to save on your new car purchase in Brisbane? Savvy can help you finance your car quickly and easily, all from the comfort of your home. We’ve partnered with over 40 trusted Australian vehicle financiers to help you compare and choose from the widest range of car loans.

You can customise your car loan to your liking with competitive interest rates and a number of flexible features potentially available to you, such as 100% finance, added deposits, flexible repayment schedules, free additional repayments and no early termination fees. 

With over ten years of experience in the industry, our online car finance consultants can help source the best quotes available to you through our lending partners no matter where you live in Queensland, from Brisbane to Toowoomba to the Sunshine Coast and all the way up the east coast to Townsville and Cairns. Get a free, no-obligation quote today to get your application started!

How do I qualify for a car loan in Brisbane?

Qualifying for a car loan in Brisbane is the same as in any other city or town in Australia. Lenders will set a range of minimum criteria which must be met by all applicants before applications proceed any further. Although these can vary depending on your lender, the following will appear across all lenders:

  • You must be at least 18 years of age to apply for a car loan. This is the case for all loans in Australia.
  • You must be an Australian citizen or permanent resident in most cases, although some lenders may offer finance to eligible temporary visa holders.
  • Your income must be enough to support your loan repayments. Depending on the lender, this may include full-time, part-time or stable casual employment income, income from your business, investments, government benefitsor other sources of regular income. There will often be a minimum salary requirement, which may start as low as $20,000 to $26,000 with some lenders.
  • Standard lenders will require you to meet a minimum credit score. In many cases, they’ll require your score to be good and no have any defaults or bankruptcies. However, there are options available for those with bad credit.
  • Your car will also need to satisfy their eligibility requirements, typically relating to the age and condition of the vehicle.

When you apply with Savvy, we’ll only consider lenders whose criteria you and your vehicle meet to save you from any unnecessary loan rejections, which would otherwise show up on your credit file. We’ll do the heavy lifting to find the most suitable loan product and lender for your profile.

What factors impact the cost of car loans in Brisbane?

Brisbane is the cheapest capital city in the country for car loans, with the average resident paying $208.67 per week and $10,851 per year on vehicle finance, according to the Australian Automobile Association (AAA) Transport Affordability Report for Q1, 2024. However, the cost of a car loan will be different for each individual, as it’s determined by a wide range of variables. These include:

Interest rates

It goes without saying that higher interest will lead to a higher overall loan cost. However, you can see just how much extra you can expect to pay with a higher interest rate in the table below:

Loan cost 7.00% p.a. 8.00% p.a. 9.50% p.a. 11.50% p.a.

Calculations based on a $30,000 car loan repaid monthly over five years.

As you can see, receiving a rate of 7.00% p.a. instead of 8.00% p.a. on the above loan terms would lead to a saving of over $850, while this increases to more than $1,150 for 9.50% p.a.


It’s also crucial to consider the additional fees charged on top of your interest. Establishment fees are one-off charges which are included in your loan amount, ranging from $150 to $200 up to $600 or more with certain lenders. Ongoing fees can also add up over time, with these ranging from $5 to $15 in many cases. For example, a five-year loan with a $10 fee per month means you’d pay $600 extra.

Loan terms

The length of your loan term will also have an impact on the interest charged. That’s because interest is calculated based on your outstanding balance, so the longer it takes to decrease, the more interest you’ll have to pay. The table below demonstrates how this works:

Loan cost Six years Five years Four years Three years Two years

Calculations based on a $30,000 car loan repaid monthly at 7.50% p.a.

Shortening your loan term will increase the amount you pay each month, but it can potentially save you hundreds, if not more, in interest overall.

Loan amounts

Because interest is calculated on your ongoing loan balance, the greater the sum you borrow, the more you can expect to pay. For instance, in the table above, you’d pay $6,069 in interest on a $30,000 loan repaid monthly over five years at 7.50% p.a. However, increasing this amount to $40,000 results in your interest rising to $8,092.

Repayment flexibility

Some lenders may allow you to make free additional repayments and don’t charge early payment fees, which can allow you to clear your debt much sooner and save money in the process. For example, on a $30,000, five-year loan at 7.50% p.a., you could save over $1,000 and have your loan paid off ten months earlier by simply paying an extra $100 per month on top of your regular repayments.

Balloon payment

A balloon or residual payment can be an effective way to reduce your monthly repayments, but adding one of these to your loan will increase the interest charged overall. The following table demonstrates how residual payments of different sizes can impact the cost of your loan:

Balloon payment Repayments Total interest Total saving

Source: How to Pay Off Your Car Loan Faster – Savvy. Calculations based on a $30,000 car loan repaid monthly over five years with a 7.50% p.a. interest rate.

What other costs will I have to consider when buying a car in Brisbane?

On top of your car purchase and loan, there are several other costs, including Queensland-specific charges, that you’ll need to be aware of. These include:

  • Vehicle registration duty: in Queensland, vehicle registration duty is based on the type of vehicle you’ve purchased, its engine and power and its price. As of May 2024, the cost can range from $2 to $6 for each $100 (or part of $100). You can use the Queensland Government’s vehicle registration duty calculator to estimate what you may have to pay.
  • Vehicle registration: the cost of car registration also depends on the type of vehicle you own in Queensland, as well as the number of cylinders or axles. You can use the Government’s registration quote tool for an indication of what you’re likely to be charged.
  • Compulsory Third Pary (CTP) insurance: CTP insurance is a type of cover which protects policyholders from being held financially liable for injury or death to another person caused by them. This type of cover is mandatory and is paid for alongside vehicle registration. It’s regulated by the Motor Accident Insurance Commission (MAIC) and is offered by Allianz, QBE and Suncorp.
  • Comprehensive car insurance: if you’re taking out a car loan, comprehensive car insurance will always be a key condition of your agreement. The average Brisbane resident pays $3,127 on car insurance premiums each year, according to the AAA’s report, which is second only to Melbourne ($3,373) among all capital cities.
  • Maintenance: of course, if you own a car, you’ll need to be able to look after it. Meeting regular servicing intervals, as well as organising repairs if you’re involved in a minor or major accident, should be factored into your budget.
  • Fuel: another important expense to budget for is fuel. The Queensland Government’s Department of Energy and Climate has published a list of fuel price apps and websites which can be used throughout the state and allow you to compare prices and hopefully save.

Why Brisbane borrowers look to Savvy for their car loans

Vehicle finance options in Brisbane

Your estimated repayments


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

How to compare car loans

Frequently asked car loan questions in Brisbane

Can I borrow to cover other car-related costs?

Yes – in addition to buying the car itself, your Savvy consultant will help you if you wish to borrow to pay for other expensive on-road costs like stamp duty, vehicle registration and extended warranties. We're partnered with lenders who may allow you to borrow more than 100% of your vehicle's purchase price to help you do just that.

Can I buy a car located outside of Queensland?

Yes – regardless of where in Australia your car is located, Savvy can help you finance the purchase. Our in-house car broker team can help you source a vehicle from our network of dealerships around the country and even have it delivered to your door.

How quickly can I start driving my new car?

If you’ve bought your car locally, you can receive it and start driving within 48 hours. However, it’ll take longer than that time for your car to reach you if you’ve chosen one from interstate.  

Does Savvy only offer lenders operating in my state?

No – we have access to a wide range of lenders not just locally, but nationally. We can provide you with options across a wide selection of lenders, ensuring you get the best possible chance of finding the right deal to suit your needs and save money.  

Should I choose a deposit or balloon payment for my car loan?

A deposit is an effective way for you to save money on your car loan by reducing your overall loan amount, which reduces your total loan repayments and interest.

If you don't have the funds on hand to pay a deposit but still want to reduce your monthly repayments, you can opt for a balloon payment, or residual, instead. This requires you to pay a lump sum at the end of the loan instead of the start, but they don't save on interest in the same way as deposits. Because your interest amortises to a higher end point to account for your residual, you pay more in interest than with a deposit. 

What’s the maximum age car I can buy with finance?

We partner with lenders who can finance cars up to 20 to 25 years old, while others don’t enforce a maximum age for cars at all. Speak with a Savvy consultant about your finance options if you’re looking to buy an older model.  

Should I go for 0% finance at my dealership instead of a loan?

0% finance looks good on paper, but borrowers usually find that it's too good to be true. Dealers often inflate the cost of the car to make up for its lack of interest earnings, which means you won't be saving as much as you think (if anything at all). Additionally, 0% finance usually only lasts for a set period before reverting to a high interest rate. 

Can Savvy help me get car financing if I have a bad credit score?

Yes – we partner with many flexible lenders who can work with customers with bad credit scores and more complicated financial histories. Even though many mainstream lenders won't be able to help those in that position, we can help find you a lender to cater to your financial needs. 

Does Queensland offer any incentives for purchasing an electric vehicle?

Yes – there are several incentives available to Brisbane residents and wider Queenslanders when it comes to purchasing an EV. Firstly, the Queensland Zero Emission Vehicle Rebate Scheme offers eligible car buyers a rebate of up to $6,000. Vehicle registration duty and registration fees are also cheaper for EVs and zero emission vehicles (ZEVs).

How much does it cost to renew my licence in Queensland?

In Queensland, you can renew your licence for up to five years as a provisional, probationary and open licence holder (or three years as a learner licence holder). As of May 2024, the cost ranges from $88.15 for a one-year licence to $198.35 for five years. Check the Queensland Government’s driver licencing fees for information on other costs that may apply to you.

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