Liberty Car Loan

Consider one of Australia’s most open-minded lenders and learn about Liberty car finance with Savvy here.

Written by 
Thomas Perrotta
Thomas Perrotta is the managing editor of Savvy. Throughout his time at the company, Thomas has specialised in personal finance, namely car, personal and small loans, although he has also written on topics ranging from mortgages to business loans to banking and more. Thomas graduated from the University of Adelaide with a Bachelor of Media, majoring in journalism, and has previously had his work published in The Advertiser.
Our authors
, updated on April 10th, 2024       

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Australian-founded online lender Liberty is one of the country’s most popular financiers, thanks in large part to their free-thinking loans and more open-minded approach to approving finance deals.

This extends to their car loan products, which are designed to help a wide range of potential borrowers access the funds they need to purchase their vehicle and pay off their debt as comfortably as possible.

Fortunately, you can find out more about Liberty and their car loans right here with Savvy, as we’ve broken down their product to keep you informed on how it works and what its key features and benefits are. This will help you ultimately choose your car loan with greater confidence.

*Liberty Financial is among Savvy’s panel of car loan financiers. All information in this article is correct as of 10 April 2024.

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The features and benefits of Liberty car loans

Interest rates from 9.15% p.a.

With interest rates starting from 9.15% p.a. and comparison rates beginning at 12.95% p.a., you can lock in your interest rate for the duration of your loan term.

Borrow up to $100,000

With a borrowing range offered of between $5,000 and $100,000, you can choose any car you like, provided it satisfies Liberty's car finance criteria.

Fast application and approval

Liberty prides themselves on providing a fast, hassle-free process for Australians, so you can fill out your application, receive conditional and full approval and own your car in very little time.

Select your ideal repayment schedule

Whether you’re paid weekly, fortnightly or monthly, you can select a payment schedule which suits your needs with Liberty. The more frequent the repayments, the less your loan will cost.

Access to balloon payments

You can add a balloon payment, or residual amount, to your car loan, which enables you to pay a lump sum at the conclusion of the finance deal and reduce your monthly repayments.

Electric vehicle discount

If you're purchasing a new or used plug-in electric vehicle, you could qualify for a discount on your interest rate of 0.25% p.a. (although this doesn't apply to hybrid vehicles).

The pros and cons of Liberty car finance


Buy new or old cars

The car you choose doesn’t have to be brand-new out of the dealership. You can also get financing for older used vehicles with Liberty.

Options for borrowers with poor credit

You won’t be barred from applying for your car loan with Liberty just because you’ve struggled with credit in the past or have an unconventional financial situation which may count you out with other lenders.

Options for self-employed borrowers

In addition to offering standard consumer car loans, you can take out a low doc loan through Liberty, which can open doors for self-employed individuals who don't have all the financials they need to apply for a regular loan.


Restrictions for borrowers under 23

If you’re applying for Liberty car finance and are under the age of 23, there’ll be a cap of just $25,000 placed on your borrowing power, potentially limiting your options.

Application and ongoing fees charged

As part of your loan, you’ll also have to pay several fees, such as an application fee (which can vary depending on the size of the loan) and ongoing fee of $10 each month.

Two-year minimum term

Borrowers looking for short-term loans of one year or less will be required to look elsewhere, as this loan comes with a two-year minimum term over which to repay it.

More about Liberty car loans

How do I qualify for a car loan with Liberty?

Liberty implements relatively basic and broad eligibility criteria for their loans, as they aim to make financing obtainable for people of all walks of life. As such, you’ll be required to meet the following general criteria when applying for your car loan with Liberty:

  • You must be at least 18 years old
  • You must be a citizen or permanent resident of Australia
  • You must be earning a consistent income of more than $20,000 each year (the majority cannot come from Centrelink benefits)
  • You mustn't have any outstanding defaults, court judgments, writs or bankruptcies
  • You mustn't currently be in collections for any existing debts
  • You mustn't have any more than three active payday loans
  • If self-employed, you must've been trading for at least two years

How do I apply for a Liberty car loan?

Liberty is slightly more unique than most other lenders when it comes to how you can apply. Rather than applying directly through their website, you can instead apply via a broker. You can do this with Savvy following these simple steps:

Fill out a quick quote (with an option to complete your full application)

Firstly, fill out an initial quick quote with Savvy to let us know about you and the loan you’re after. This will only take a matter of minutes to complete, after which you have the option to submit a full application for review by a member of our consultant team. They’ll take your profile into account and find the best offer available, with Liberty one of the lenders on our panel.

Consider loan offers with your Savvy consultant

Your consultant will return to you once you’ve completed your full application and show you the best loan offers available to you, recommending what they see as the best finance solution for you. You can compare several different offers if you’d like to consider more of your choices yourself.

Have your application submitted and approved

Once you give your consultant the green light to pursue your Liberty loan, they’ll prepare your application with the various documents and personal details required and send it off to Liberty. They’ll have a clear understanding of Liberty’s eligibility criteria and what will and won’t be approved, so your application is in safe hands.

Take ownership of your vehicle after signing your contract

Your consultant will let you know when your application is approved and forward you the Liberty loan contract to sign and return. Once that’s completed, they’ll release your funds directly to the seller of your vehicle, who can then release the vehicle to you so you can take ownership of it.

Common Liberty car loan queries

Can I get car loan pre-approval with Liberty?

Yes – you can be pre-approved for your car loan, meaning you don’t have to have selected the car you’re looking to buy when you apply. With pre-approval in hand, you can find yourself in a stronger position when it comes to negotiating on the sale price of the car, given that the pre-approval only allows for a pre-determined ceiling.

Will a car loan help me build my credit score?

Yes – if you’re struggling with credit, taking out a car loan is a great way to rebuild it. By making your repayments consistently on time and in full, you’ll add positive credit behaviour to your file, increasing your score and potentially improving your chances of accessing finance in the future at a lower rate.

Does Liberty offer business car loans?

Yes – if you’re buying your car for business purposes, Liberty also offers a commercial loan product to help you purchase the vehicle you need. This comes with similar conditions as their standard private-use car loan, but you can access a lower interest rate in the process.

If I’m self-employed and don’t have my tax returns, can I still be approved?

Yes – Liberty offers a low doc car loan for self-employed people who need to supply alternative documentation as part of their car loan application. This may be the case if your business is starting up and you don’t have the documents needed to qualify for a commercial loan elsewhere.

Can I pay out my car loan early with Liberty?

Yes – however, you’ll be charged an early repayment fee if you complete your car loan repayments ahead of schedule. This amount depends on how long there is left to run on your loan and your interest rate.

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