Personal Car Loans

Apply for a personal car loan through Savvy, and compare your options to find the best rates.

No obligation. It wont affect your credit score.

Low rate personal car loans

Looking for a loan to purchase a car for private use? Savvy can help you out! Our team are experts at arranging personal car finance at great rates.

A personal car loan is a type of consumer loan allowing you to buy a vehicle for personal purposes. At Savvy, our brokers can provide you with a range of great options for a car loan, drawing from more than 25 of Australia’s top lenders to offer you finance suited to your circumstances and budget. Contact us today for a free, no obligation quote, and get on the road sooner rather than later.

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Features of a Savvy personal car loan

More options, better rates

Savvy’s suite of lenders can offer car loan interest rates as low as 3.35% p.a. (3.89% p.a. comparison rate) And having a range of lenders to choose from means better options and rates for you.

Borrow from $5,000

A loan through Savvy can be for as little as $5,000, up to the full value of the car – our suite of lenders can offer 100% finance on a car loan, no deposit or extra collateral required!

A range of loan terms

With Savvy, the choice is yours when it comes to how quickly you want to repay the loan. Our lenders can offer a range of loan terms from 1 to 7 years.

Affordable fees

Savvy’s lenders offer very reasonable fees on their car loans – $100-$600 at loan setup, and $5-$20 as an ongoing monthly fee. Some even offer no fees on their loans!

A secured loan

A personal car loan is secured – it uses the car itself as collateral for the loan. This generally means lower interest rates, so you pay less overall.

New, used or demo

With a loan from one of Savvy’s lenders, it’s your choice to go new, demo model, or used. You can also buy from a dealer or private seller – we have a loan for every situation.

Flexible repayment options

With a car loan through Savvy, you have the choice of weekly, fortnightly, or monthly payments. Some lenders even allow early repayments to pay the loan off sooner.

Fixed interest

A car loan through one of Savvy’s lenders is fixed interest – meaning your repayments don’t change. This lets you plan your finances, and to work around budget constraints.

What makes Savvy the stand out choice for car finance?

What will you need to be eligible for a car loan with Savvy?

Frequently asked questions about personal car loans

Do I need insurance for a car I purchase with a loan?

Yes, it’s mandatory to get full comprehensive insurance for a car you have financed. It makes sure that if the car is destroyed in an accident (and written off as a total loss), you’re not left with an outstanding debt and no car.

Can I use a car loan to cover expenses like stamp duty?

Yes, you can extend your loan slightly to cover specific car related expenses like stamp duty and registration – as long as the expenses are specifically related to the car.

Can I use a personal loan to buy a car instead?

You can, but the rates generally won’t be as good. Personal loans are unsecured, meaning you don’t need to use the car as security, but you pay more in interest.

Will the age of the car affect the terms I get on a loan?

Yes. As a rule, although older cars are generally cheaper, you normally pay more interest on the loan. So if you have two $20,000 cars, but one is 2 years old and the other is 12, you’ll get slightly better rates for the newer car, and pay less overall.

How much do I need to earn to be eligible for personal car finance?

Not very much. Savvy can help out with vehicle finance for customers earning as little as $26,000 a year (provided you don’t have too many expenses). You’ll need to have been earning that income for at least three months, however – so don’t rush to apply for a loan the moment you land a job.

Can I get a car loan if I already have other loans – like a home loan?

It’s possible to have multiple loans at once, provided you have the income to service both loans. It can even help a loan application, as it can show you have a reliable lending history.

Is there any benefit to offering a deposit on a personal car loan?

Although it’s not required for a loan through one of Savvy’s lenders, there are potential benefits to offering a deposit on a loan for a personal car. Most notably, it can boost your chances of approval, and lower your monthly repayments.