Dealer finance isn't always the best option. We compare car loans from 30+ lenders — covering new cars, used cars, novated leases, and business vehicles — to find you a better rate with flexible terms.
Buying a car is exciting — but the finance side is where many Australians lose thousands of dollars without realising it. Whether you're buying new or used, the way you finance your vehicle matters just as much as the price you pay for it.
The biggest mistake? Accepting the first finance offer you're presented with — usually from the car dealer or your existing bank — without comparing what else is available.
Most people finance their car through the dealer or their main bank without shopping around. This often means:
We compare car loan options across 30+ lenders including banks, credit unions, and specialist vehicle finance providers. Whether you're buying new or used, personal or business — we find competitive rates with flexible terms and no hidden nasties.
Different car finance products suit different situations. Here's how the main options compare:
| Feature | Personal Car Loan | Chattel Mortgage (Business) | Novated Lease |
|---|---|---|---|
| Best For | Personal vehicle purchase | ✓ ABN holders / businesses | ✓ Salary-packaged employees |
| Tax Deductible | ✗ No (personal use) | ✓ Interest + depreciation | ✓ Pre-tax salary payments |
| GST Claim | ✗ No | ✓ Claim GST on purchase | ✓ GST savings on running costs |
| Ownership | ✓ You own the car | ✓ You own the car | Finance company owns until end |
| Balloon Payment | Optional | Optional (reduces monthly) | Residual value at end of lease |
| Typical Rate Range | 5.5-9% (varies by credit) | 5.0-8% (varies by ABN time) | Effective rate after tax varies |
Every car buyer's situation is different. Here are some of the most common scenarios we assist with — and how we tailor the finance to suit:
Buying new from a dealer? Get pre-approved with us first so you can negotiate the car price as a 'cash buyer' — dealers often give better prices when finance isn't tied to the sale.
Buying used from a dealer or private sale? We find competitive rates for used vehicles — including cars up to 10+ years old that some lenders won't touch.
ABN holder or company buying a work vehicle? We compare chattel mortgages and commercial hire purchase options to maximise tax deductions and cash flow.
Salary packaging a car through your employer? We set up novated leases that save you GST on the purchase price and running costs — reducing your taxable income.
Use our quick loan assessor tool to get an estimate of your car loan borrowing capacity in minutes.
Try the Loan AssessorWe review what you're buying, your budget, whether it's personal or business use, and any tax implications — to recommend the right finance structure.
We compare rates across 30+ lenders and get you pre-approved — so you can shop for cars knowing exactly what you can spend and at what rate.
Once you've found your car, we finalise the loan, handle settlement with the dealer or seller, and ensure funds are ready for pickup day.
Your loan is settled, the car is yours. We set up your repayments and provide ongoing support if you need to refinance or upgrade in the future.
Walking in with pre-approved finance gives you negotiating power. Dealers are more willing to discount the car price when they know finance isn't part of their margin.
A balloon payment reduces your monthly repayments but means a lump sum is due at the end. Make sure you have a plan for that final payment — refinance, pay cash, or trade in.
A lower monthly payment over 7 years costs more in total interest than a higher payment over 5 years. We show you the total cost comparison so you can decide what works best.
Some car loans charge penalties for paying off early. We prioritise lenders that allow unlimited extra repayments and early payout without fees.
Car loan rates typically range from 5.0-9.0% depending on the lender, your credit profile, loan amount, and whether the car is new or used. We compare across 30+ lenders to find the most competitive rate for your situation.
Most lenders offer car loans from $5,000 to $150,000+. The amount you can borrow depends on your income, existing debts, and credit history. We assess your borrowing capacity and recommend a comfortable loan amount.
Yes. Many lenders offer competitive rates for used cars, though some restrict the age of the vehicle (e.g., no older than 10-12 years at loan end). We know which lenders are flexible on vehicle age and condition.
A car loan is typically for personal use. A chattel mortgage is a business finance product where the vehicle is used as security — interest and depreciation may be tax deductible, and you can claim the GST on the purchase price if registered for GST.
Arranging your own finance through a broker usually results in a lower rate and more flexible terms. Dealer finance often includes commission and bundled products that increase the total cost. Pre-approval also gives you negotiating leverage on the car price.
Car loan terms typically range from 1-7 years. Shorter terms mean higher repayments but less total interest. Longer terms lower your monthly payment but increase total cost. We help you find the right balance between affordability and total cost.
Yes, some specialist lenders work with borrowers who have credit impairments. Rates will be higher than standard loans, but it's often possible to access finance and refinance to a better rate once your credit improves.
A novated lease is a salary packaging arrangement where your employer deducts car repayments and running costs from your pre-tax salary. This reduces your taxable income and can save you GST on the purchase price and running costs. You need your employer's agreement to set one up.