Car Finance Victoria

Looking for fast, affordable car finance in Victoria? Compare more vehicle finance lenders to find a better deal.

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, updated on July 4th, 2023       

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Car loans Victoria

If you’re looking for help navigating the Victorian car finance market, Savvy can help you find the best car loan to suit your needs. No matter what type of vehicle you need to drive or where you live, whether it’s in Melbourne, Bendigo, Swan Hill or Cape Conran, we can help you get the best car financing to suit your needs; there’s nowhere we don’t cover.

Our digital service makes us accessible wherever you are in Victoria, so you won’t have any issues getting in touch with one of our dedicated car loan consultants from the get-go.

Compare the best vehicle finance deals from more than 25 specialist lenders with friendly terms and interest rates that won’t break the bank. Power through your car loan application faster with Savvy.

Competitive interest

Loan amount from $5,000

Flexible repayments

No early termination fees

Personalised rates

New or used, private or dealer

100% finance available

Anywhere in Victoria

Why so many Victorian car buyers turn to Savvy for finance

Your checklist to find a best car loan option

Got questions about car loans in Victoria? Get the answers

How long do I have to repay the car loan?

Car loans run for anything between one and seven years. However, if you want to extend your vehicle finance period, you can use a balloon payment and then refinance that when the loan term ends.

Will my car loan repayments increase during the term?

If you choose a secured car loan, they typically feature fixed interest rates, so they don’t change throughout the term, no matter what happens with the broader economy or the national base rate. As such, you’ll pay the same amount each month or week.

Can I buy older vehicles with a car loan?

Yes – you can buy both new and used cars with a car loan. However, all lenders have limits, given you’re using the vehicle to provide security for your borrowing. Remember that such limits apply at the end of your loan term, so if you’re buying a car that’s five years old on a seven-year term, it’s considered a twelve-year-old car for the purposes of your loan application.

Can I apply for car finance on a temporary visa?

Yes – although many lenders only consider car loan applications from permanent residents or citizens of Australia, there are lenders who consider applications from some non-resident visa holders.

You won’t qualify if you’re on a bridging or student visa, but skilled working visas backed up by a solid Australian employment history could see you eligible.

You may require a deposit, and your loan will need to be paid in full at least a few months before your current visa expires.

Is it quicker and better value just to get my car finance from a dealership?

Not really – that’s because car dealerships use all sorts of tactics to make finance look attractive, but it can be more expensive when you delve a little deeper.

Look out for inflated forecourt prices to compensate for supposedly low interest rates and dealers using substantial residual amounts (due at the end of your loan) to make monthly repayments seem cheaper.

Can I sell my car during the finance term?

Yes – if you decide to upgrade your vehicle, you’ll need to keep the lender informed and use the proceeds of the sale to pay off the remaining loan balance before they’ll lift their claim on the vehicle (for secured car loans).

In some instances, you might owe more on the car than it sells for – more common when the car is still just a few years old. If that’s the case, you may be dealing with negative equity car finance. You can use that to borrow for your upgraded car and cover the shortfall on your existing one.

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