Compare Car Loan Options for Military Members
Find a broader selection of military car loans with rapid applications 100% online. Compare the lowest interest rates, repay your way and save money.
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Car finance options for members of the military
Serving in the military and need an easier way to arrange a car loan? Whether you’re Navy, Army or Air Force, there are plenty of finance offers on the market that are suited to your needs. Find out more about your car loan options, as well as how to find the best one for you.
Borrow from $5,000
1-7 years loan term
Flexible loan repayments
No early termination fees
Fixed interest rates
New and used cars approved
No deposit
Balloon payment options
How Savvy helps military personnel find the right car loan
More choice
Military personnel can choose from a wide range of cost-effective car loans and specialist vehicle finance lenders to find their ideal borrowing solution.
Expert help
Get a real person to guide you through the car loan process and expert help with everything from forms and documents to fees.
Fast approvals
Online applications are faster and more convenient when you’re stuck on base or pulling unsociable shifts. Qualify quicker and save time.
Military car loans explained further
How does a military car loan work?
If you’re a member of the Australian Army, Navy, or Air Force, you may be eligible for a military car loan. Car loans for ADF personnel are pretty straightforward. You borrow what you need to buy a car, which can be 100% of the asking price or you can use a deposit or trade-in vehicle. You can repay over anything up to seven years with interest, which is set according to your borrower profile. You’ll also pay car loan fees, which will typically come in the form of a setup or establishment fee (which is added to your loan amount and repaid over time) and a monthly account fee (which is usually between $10 and $50).
Each month, you pay a portion of the borrowed amount and some interest until the loan is fully repaid. Military car loans are a secured form of borrowing. That means the lender registers an interest in your car during the loan term. Once all your repayments are made, the car is yours without restriction. The advantage of secured loans is they pose fewer risks for loan providers, so interest rates tend to be lower.
How do I apply for a military car loan?
Savvy allows active military personnel to apply for a car loan digitally. You can do everything you need using just a smartphone, tablet or laptop and an internet connection.
Applying for a military car loan via Savvy is quick and easy. We’ll assign you a specialist vehicle finance consultant who will target relevant loans and lenders and source the most cost-effective options out there. Everything is done digitally, so you can also upload documents using Savvy’s secure website. Have a driver’s licence or passport, a recent utility or phone bill, your Medicare card and statements for any credit cards, mortgages or other loans at hand. You’ll also be asked to supply details of your assets, such as shares, other vehicles, boats, and bikes, and your past three months’ worth of payslips.
We’ll also ask you to fill out a quick online application form. Your documents are used to confirm the details you supply. Along with your bank statements, we’ll use this to assess your income and spending to determine how much you can comfortably afford to borrow.
