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Car Loans Adelaide

Name: Car Loans Adelaide
Creator: Savvy
Published: 2020-12-14T18:14:19+10:30

Explore your car finance options in South Australia and compare a range of lenders with Savvy.

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

Written by , updated on July 23rd, 2024

Are you looking for a car loan in Adelaide or elsewhere in South Australia? Whether you need a car for your commute, want a new ride to get you to the beach or just fancy a change, Savvy can help you with your finance needs. Based in Adelaide but serving all of Australia, we work with more than 40 reputable lenders across the country to help you find the best finance option on offer. Get in touch today for a free, no-obligation quote!

How do I get a car loan in Adelaide?

There are several steps involved in getting a car loan, from establishing your budget to finding the right lender. If you want to save yourself the hassle, turn to Savvy. We can compare dozens of loans and lenders on your behalf and our streamlined process ensures a stress-free experience from start to finish. Here’s how it works:

Online enquiry: begin by filling in our user-friendly online form. Provide essential details about yourself and the loan you’re after, such as the desired loan amount, term length, residency, employment status and credit history. This should only take a few minutes.
Consultation: one of our seasoned car loan brokers will get in touch. They'll discuss your requirements and determine your eligibility.
Documentation: if you’re eligible, it's time to gather necessary documentation. This may include ID, proof of address, payslips or bank statements. It doesn’t matter where you are, you can submit everything online.
Loan procurement: leave the legwork to us. Your dedicated consultant will assess your submission and tap into our extensive network of lenders to secure the best deal for you. Rest assured, we've got your back every step of the way.
Application and approval: if you’re happy with the loan terms and conditions, we'll submit your application for approval. With many lenders, you could receive the green light within just 24 hours. Once approved, it's time to sign the paperwork and finalise the settlement with the seller for your new car. Then all you need to do is get behind the wheel!

How much does a car loan cost in Adelaide?

According to the Australian Automobile Association (AAA), the average weekly cost of a car loan in Adelaide was $208.84 in Q1 2024. However, how much your loan will actually cost depends on a number of factors, particularly:

Car value: the value of the car directly affects the loan amount you need to borrow. For example, if you're buying a more expensive car, you'll need a larger loan.
Interest rate: a higher interest rate means you'll pay more in interest over the life of the loan.
Fees and charges: loans may come with various fees and charges, such as application fees, that can add to the overall cost of the loan.
Loan term: a longer loan term typically results in lower monthly repayments but often means paying more in interest over time.
Down payment: making a down payment lowers the amount you need to borrow for the car purchase and consequently the total cost of the loan.

If you live in South Australia, there are a several other costs to consider when you buy a car. These include:

Stamp duty: in SA, the amount of stamp duty you pay depends on the value of your car and its classification. Find out more here.

Registration: the amount you pay depends on the type of vehicle you drive and whether you live in a metropolitan area or the country. Registration fees also include CTP insurance. Find out more here.

Car insurance: most car loan agreements require you to take out comprehensive car insurance.

Fuel: fuel makes up a substantial portion of you car running costs; according to a survey by Savvy, 50% of South Australian surveyed pay between $61 – $90 a week on petrol.

Servicing and maintenance: while Adelaide is the cheapest city for car servicing at $29.56 per week, according to the AAA, it is important to factor in regular maintenance costs and unexpected repairs.

How do I find the best car loan in Adelaide?

When seeking a car loan in Adelaide, Mount Gambier or anywhere else in SA, it's crucial to explore your options before making a decision. Take the time to compare offers based on key factors such as:

Interest rate: a lower interest rate can translate to significant savings over the life of the loan.
Fees and charges: these additional costs can impact the overall affordability of the loan.
Comparison rate: the comparison rate encompasses both the interest rate and any associated fees, providing a more accurate representation of the total cost of the loan.
Loan term: the length of the loan term can significantly influence the total cost of your car loan when factoring in interest payments. While a longer term may result in lower monthly payments, it may also lead to higher overall interest costs.

The examples below for a $45,000 vehicle can help give you a better understanding of how these elements can affect the cost of your loan:

	Scenario #1: low interest	Scenario #2: high interest	Scenario #3: shorter loan term	Scenario #4: longer loan term
Interest rate	5%	12%	7%	7%
Comparison rate	5.5%	13.5%	7.5%	7.5%
Loan term	4 years	4 years	2 years	7 years
Monthly payment	$1,046.54	$1,218.43	$2,024.98	$690.22
Total interest & fees paid	$5,233.99	$13,484.86	$3,599.56	$12,978.68

Ultimately, the best car loan is one that aligns with your income, expenses and individual circumstances. Before applying, establish a clear budget, including monthly repayment limits and any upfront costs like a deposit or fees. Seeking guidance from car finance experts such as Savvy can also provide valuable insights and support throughout the loan process. By carefully considering these factors and seeking the right advice, you can find a car loan that best meets your needs.

Why choose Savvy for your Adelaide car loan?

The choices you want, all in one place

We work with some of Australia's top lenders to source and compare specialist car loan products to give you the best options we can.

Expert advice and support

Our friendly and knowledgeable consultants will work with you every step of the way to help you find and secure a car loan suitable to your needs.

Quick, easy and convenient

You can apply for a loan wherever you are in the state and get approved fast through our straightforward online application process.

Car finance options to suit your needs

Car loans

Our expert consultants can offer you a variety of options to suit your individual needs by comparing the best offers available from our panel of flexible lenders.

Chattel mortgage

This type of business car finance gives you immediate ownership of your vehicle as well as potential tax benefits and flexible repayment options.

Bad credit car loans

Our diverse panel includes lenders that work with customers who have struggled with credit in the past, with much-needed financing available when you’re looking to purchase your next car.

Car lease

You might be looking for the freedom and convenience of using commercial vehicles without ownership responsibilities. Whether you’re looking at finance or operating leases, we can help you find the right arrangement for your business.

Novated leasing

Are you looking for a novated leasing or salary sacrificing for your next car? Savvy can help you secure a novated lease package between you and your employer so you can save more on tax and gain all the benefits of having a company car.

Hire purchase

If your business uses off-balance sheet accounting, a hire purchase agreement can be a great way for you to save with claimable GST, depreciation and interest while taking ownership of the car at the end of the term.

Calculate car loan repayments

Disclaimer: The results provided is an estimate only. Please read our Calculator Assumptions and Disclaimer for more information

The typical eligibility requirements for a car loan in Adelaide

Age

Residency

Income

Employment

Credit history

Documentation

What our customers say about their finance experience

Awesome service by an awesome consultant

Tanja was awesome again. Second loan through her and I'll always continue to deal with her only. Nothing is ever a hassle and a pleasure to deal with.

- By Anonymous 7 hours ago

5/5

Couldn't recommend enough...thank you

Corey was fantastic. He was professional, honest, communicative and very knowledgable. He made a stressful situation much easier and I couldn't recommend him enough. It's a tough decision choosing the right loan but to have the support from a good broker made everything easier. Thank you Corey and team at Savvy.

- By Rose 9 hours ago

5/5

Customer Feedback

really happy and gives me updates every now and then which is somehow good for the client Cheers to Matt for doing a great job

- By Anonymous 11 hours ago

5/5

Savvy is rated 4.9 for customer satisfaction by 3546 customers.

Your frequently asked questions about car loans in Adelaide

How do Adelaide car loan interest rates work?

Lenders base car finance interest rates on a range of factors. Secured car loans from Savvy come with lower interest rates than finance agreements like personal loans where you provide no collateral to lenders. All lending is costed on the basis of risk. That means, the more security you provide, the less you’ll pay in charges. When you take out a secured car loan in Adelaide, the loan provider will check that the value of your car covers your borrowing too – to assess whether it offers adequate security. That can mean newer cars attract lower interest rates.

Do I have to buy a brand-new vehicle with an Adelaide car loan?

No. You can use a range of car finance products to buy either new or used vehicles up to a certain age. However, be aware that lenders may charge higher interest rates for purchasing older cars. The cheapest deals will generally get offered for cars that are new or just a couple of years old when you purchase them.

Can I use my old vehicle or cash as a deposit?

You can borrow 100% of your new car cost, or choose to use an old car as a trade-in, to reduce repayment amounts by minimising how much you borrow. Trading in your old vehicle can also save you the hassle of selling it privately. Using a cash deposit is an excellent method of bringing down the cost of borrowing, but it's by no means compulsory.

How long will it take me to pay back my car loan?

Savvy partners with specialist car loan lenders to bring you a range of flexible repayment options. In Adelaide, car loan agreements run between just twelve months and seven years. Deposits are not compulsory, and you can choose to borrow the entire cost of your new car. However, in terms of what you pay and how long for, a deposit can add some flexibility. For instance, you can use one to reduce the amount you repay on a monthly basis – or you can keep the repayment amounts but reduce the term of the loan instead. At Savvy, we have a car loan option to suit most budgets, financial goals and circumstances.

I’m not yet sure which car I want to buy – how do I know I’ll get approved?

At Savvy, we help lots of Adelaide car buyers get pre-approved for car finance – and then eventually go on to buy the vehicle they want. Getting pre-approved for a car loan in Adelaide is easy. Lenders will assess your situation and borrowing power by making a soft enquiry about your credit rating (which doesn’t show on your report) and they’ll also look at your finances, regular spending and earnings so they can let you have a ceiling amount in terms of what you can borrow. You’ll then be free to shop around – using auction sites, private, and dealership sales. Loan pre-approvals carry no obligation to go ahead with finance.

Are there any government incentives for EVs in South Australia?

South Australia’s subsidy scheme, which offered a $3,000 subsidy on new battery electric and hydrogen fuel cell vehicles, closed on 1 January 2024. However, certain electric vehicles registered before 30 June 2025 are still eligible for a three-year registration exemption.