Quick Car Loans

Drive away with your new car faster with Savvy. Get approved for your car loan and see your new wheels in a matter of days.

No obligation. It won't affect your credit score.

Last updated on April 19th, 2022 at 03:36 pm by Thomas Perrotta

Looking to get on the road quickly after picking out your next car? Savvy is the perfect place to not only find your ideal car loan, but have it settled in no time.

With a quick quote that only takes a few minutes, instant digital processing and a fast response from your loan consultant to present the best options for you, you can drive away with your new set of wheels in as little as 48 hours.

Kick-start your application today by getting a quick quote and compare from the best options on the market.

Getting on the road fast with a quick car loan through Savvy

Quick and easy online application

Our quick quote takes only a few minutes, while we only need a few forms as part of your application to submit to the lender.

Competitive interest rates

We can help you secure a low rate car loan with rates as low as 3.99% p.a. (4.36% p.a. comparison rate) 

Customisable repayment terms

As part of your application, you will be able to choose a loan term suitable to your needs up to seven years.

Borrow up to your car’s value

We offer 100% finance between $5,000 all the way up to your car’s maximum value.

Fast approval and settlement time

We can help turn applications around in as little as 48 hours from your application to settlement and receiving your car.

New or used, private or dealer

Whether your car is new or used, old or young or purchased from a dealership or privately, we can move your application along quickly.

Eligibility

To apply for a car loan quickly, you must be at least 18 years old, hold Australian citizenship, permanent residency or a valid visa and earn at least $26,000 p.a.

Why you should finance your car through Savvy

How to fast track your car finance application

Your quick car loan questions answered

Are second-hand cars as quick to finance as new cars?

Yes – in some cases, you may actually receive your used car more quickly than a new one if the latter isn’t in stock.

By nature, used cars are always in stock and waiting to be sold, so they’re readily available for you to drive away in.

How does my credit score affect the speed of my application?

When you apply as a customer with a good to great credit score, you may find that approval occurs much more quickly.

This is because some lenders’ online engines can be satisfied that you’re a suitable customer for financing and can automatically approve your initial application.

This is also the case for asset-backed customers, such as those who own their home or other investment property, as lenders preference them.

For customers with bad credit, auto-approval generally isn’t possible; lenders will want to assess further documentation to inform their decision on whether they’re able to comfortably and reliably repay the loan.

Can I apply for car finance with no previous borrowing experience?

Yes – even if you have zero previous borrowing experience, our consultants can help find lenders and products from our flexible lending partners that can work for your situation. This will hold up your application slightly, however, as the lack of evidence of past borrowing means that the lender will require you to complete several further checks before approving your application .

Will the amount I ask for affect how quickly I can be approved?

It can – the less you apply for, the lower the risk for the lender and the greater their ability to sign off on it sooner. However, this isn’t always possible if your car is a bit more expensive.

The best way to speed up your application in this case is to not ask for more than you can handle with your car loan, whether that be in terms of the debt you’re taking on or the monthly repayments required to service it.

Are commercial car loans quick to process?

Yes – while not as fast as consumer car loans, products such as chattel mortgages, car leases, novated leases and hire purchases can all be processed, approved and settled in a matter of days.

Will my car loan application take longer to process if I’m self-employed?

Probably, yes – because sole traders can’t produce the same documentation that other PAYG employees can, such as payslips, they’ll have to submit tax returns as part of their application.

Because these are more slightly more detailed and complex in nature, they’ll take longer to assess compared to PAYG documents.

If you’re unable to supply tax returns from the previous two financial years, though, you can apply for a low doc car loan, which instead utilises alternative documents such as BAS documents, bank and profit and loss statements and your ABN, the combination of which will take longer to assess.

What if I need my car loan funds sooner than 48 hours?

If you’re need of faster financing than a car loan can offer, an alternative you could turn to is a personal loan. These are processed more quickly than car finance and can be either secured or unsecured (the latter being the faster to settle). With a personal loan, you can have the funds released inside 24 hours to buy your car.

It’s important to note than personal loans typically come with higher interest rates than car loans, but they can be used for car purchases in the same way (and are the only option for cars over the age of 20 to 25).