Liberty Car Loan

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

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, updated on June 30th, 2023       

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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 amongst Savvy’s panel of car loan financiers.

liberty logo

The features and benefits of Liberty car loans

Competitive rates from 5.99% p.a.

With interest rates starting from 5.99% p.a. and comparison rates beginning at 7.55% p.a., you can secure a loan for yourself at a lower rate than other lenders and save overall.

Borrow up to $100,000

With a borrowing range offered of between $5,000 and $100,000, you can choose any car you like, from a beaten-up set of wheels to use for parts to high-end luxury vehicles.

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 across your term.

Flexible Payment Arrangement (FPA) available

The FPA in your car loan gives you the ability to cut down your monthly repayments by up to two thirds if you decide you’d like to distribute your funds elsewhere.

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 vehicles up to 20 years of age at the point of application 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.

Affordable interest

One of the most important features is the interest rate on offer, which can be very attractive to younger borrowers and those looking to secure financing from a free-thinking financier.


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 $7.70 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 earning a consistent income of more than $20,000 each year
  • You must show that the income you earn is enough to support the repayments on your car loan (use Savvy’s car loan calculator to work out what Liberty may consider affordable for you)
  • You must have a credit score above 300
  • You must have been employed in a stable position (usually full-time) for at least six months
  • You mustn’t have taken out a personal loan within the last 90 days
  • You mustn’t have taken a repayment holiday on any outstanding loan debts within the last 90 days

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, but it could reach around $800 in some cases.

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