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CAR LOANS FROM 5.94^%_P.A.

Name: Car Loans
Creator: Savvy
Published: 2021-11-12T15:38:41+10:30

In the market for a new or used car? Finance your purchase the right way and apply for a loan with Savvy today!

Written by , updated on Mar 6th, 2025

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Car Loans

CAR LOANS FROM 6.29^%_P.A

Whether you’re looking for a new or used vehicle, Savvy can help you get into your new car sooner! Compare a wide range of car loan options with us and save. (6.72% p.a. comparison rate)

Written by , updated on Mar 6th, 2025

Looking for the right car loan?

Whether you’re buying your first car, upgrading your family vehicle, refinancing your current deal or adding one to your business, Savvy is here to help. We’re partnered with over 40 lenders and have secured more than 10,000 car loans for our customers nationwide since we opened our doors in 2010.

It’s simple: applying for a car loan has never been easier than it is with Savvy. With our experienced team of brokers based right here in Australia, we’re with you from start to finish to handle the heavy lifting throughout your application and ensure you drive away happy with minimal fuss.

Compare lenders

Compare car loans in Australia from various lenders, with interest rates that vary depending on the borrower's credit score and other factors.

Lender	Interest rate (p.a.)	Comparison rate (p.a.)	Loan amount (AUD)
Plenti	6.57% - 24.09%	6.57 - 26.28%	$5,000 - $65,000
Now Finance	6.75% - 26.95%	6.75% - 6.95%	$5,000 - $50,000
Liberty	7.24% - 19.99%	7.24% - 21.49%	$5,000 - $80,000
Money Place	6.52% - 19.19%	6.95% - 20.77%	$5,000 - $80,000
Finance One	6.52% - 19.19%	6.95% - 20.77%	$8,000 - $100,000
Resimac	6.52% - 19.19%	6.95% - 20.77%	$8,000 - $100,000

Brands We Compare

Why compare car loans with Savvy?

40+ lending partners

We’re partnered with over 40 car loan providers nationwide, giving you more high-quality options to consider.

Competitive interest rates

We scour our lending panel for the lowest rates and match you with the most affordable deal available.

100% online

There’s no need for messy paperwork with us. When you apply, you’ll be able to submit and sign all your forms electronically.

4.9-star customer service

The satisfaction our customers feel is clear when you see our impressive 4.9-star rating for our service on Feefo.

Helping Aussies since 2010

We’ve been helping Australians just like you find their ideal car loan package and save on interest and fees for 15 years.

No impact on your credit score

Our consultants will conduct a soft credit check when assessing your application, so your score won’t be affected.

WHAT OUR CUSTOMERS SAY ABOUT THEIR FINANCE EXPERIENCE

5/5

The savvy experience was extraordinary

Our broker Nathan was polite, friendly, he listened to what we needed and went over and above to get us the best deal. His communication was timely, even replying after business hours, he was professional and the turn around time for us applying and receiving finance was so quick. We had tried other institutions and brokers but Nathan hands down gave us the best service. We had a positive experience and outcome and now we can live out our dreams. Cannot recommend highly enough.

- By Angela Clark 4 hours ago

5/5

A personal touch to finance

Knowing that the finance consultant remembered me from previous dealings and was very professional nothing was ever a issue easy to work with quick response

- By Jason Wilson 9 hours ago

5/5

Great experience

Travis was fantastic. Very quick turnaround of all communication but done with much patience and care. I appreciated how smooth he kept the process and made everything very easy

- By Anonymous 10 hours ago

5/5

Customer Feedback

Fast result, hassle free, would definitely use again!

- By Ben M 10 hours ago

5/5

Savvy finance - can't recommend highly enough

The customer service provided by our consultant Nick was second to none. Nick is the consumate professional with attention to detail. He was professional yet empathetic and made the transaction seamless whilst seeking competitive finance for us. Myself and other family members have used Savvy on numerous occasions, from purchasing several vehicles to a camper trailer and a jet ski. We wouldn't use anyone but Nick either.

- By Dean H 11 hours ago

5/5

Thank you!

I was really having no luck applying for a car loan until I called Savvy Finance. I got put through to Aidan who is a absolute legend! He asked me for a bit of information in the beginning and then the process started. I got constant updates about different options to take and the progress of the loan. Within a couple days I was approved and had a new car! Highly recommend Savvy Thanks again Aidan

- By Jack 19 hours ago

5/5

Finance legends

Extremely prompt and reliable service, got me exactly what i needed, and helped me out with finding other things I needed to get sorted and on the road, all in record time!

- By Joshua De Prima 19 hours ago

Savvy is rated 4.9 for customer satisfaction by 6038 customers.

The best car loans in Australia

We scour the market to find the best rates available for your profile. At the moment, the best rate on offer through Savvy is 5.94% p.a. (6.99% p.a. comparison).

However, the best car loan is different for each individual. That’s why our team of car finance brokers is here to help. With their extensive knowledge of our diverse lender panel, they’ll connect you with the lender best suited to your needs.

The reality is that every person’s circumstances, as well as what they’re looking for in their loan, are different. Here’s what you should be thinking about when applying for your loan:

Your budget: how much can you afford to pay? We can arrange for a longer loan term in cases where you’d prefer lower repayments, while shorter terms allow you to tackle your debt head-on.
How you’re paid: we’ll help you find the most suitable pay schedule, with weekly, fortnightly and monthly instalments available.
Your savings: if you have money in the bank that you could put towards the car purchase, it might be worth doing. Every dollar out of your savings is a dollar less that you’ll have to pay interest on.
Your credit score and history with similar loans: the better your credit score and stronger your track record with other car loans, the more you’ll likely be able to borrow at a lower rate.

The Types of Car Loans You Can Choose From

Car finance

A standard secured car loan for private usage. These come with fixed interest rates and allow you to borrow as much as 100% of your car's value.

Chattel mortgage

A loan designed for the purchase of commercial vehicles. These are also available from $5,000 up to the vehicle's maximum value.

Woman charging her electric car at a petrol station

Car leasing

Leasing is another commercial vehicle finance option. This allows you to access your vehicle without committing to its purchase.

Novated Leasing

This is an arrangement between you, your employer and a novated lease company whereby payments for your lease come out of your pre-tax income.

Car loan refinance

You can refinance your car loan with us if you're looking to cut down on the cost of your repayments.

Car Loan Repayment Calculator

Crunch the numbers to see how much you could be paying

How much I'd like to borrow

$500

$200,000

How much you need to pay on your car loan (not including interest or fees)

Loan term (years)

Interest rate

The amount a lender will charge on top of the loan principal. Default rate is current car loan average interest rate.

Deposit

Your estimated repayments

$98.62

Weekly Fortnightly Monthly

Total interest	Total amount
$1233.43	$5,143.99

How to apply for your car loan with Savvy

Fill out our simple online application form

Tell us about yourself and the car and loan you’re after. This will include information about your income, employment and credit score and helps us find the best available loan for you.

Supply any required documents

After you complete your application, we may request further documentation to verify details such as your employment and income. These can be submitted online via our portal.

Discuss your options with us

Once we have all the information we need, we’ll compare the offers available to you from our lending panel. Your consultant will reach out to you and talk you through your car finance options to get the all-clear.

Find your ideal car

If you haven’t already decided on (or found) your ideal car, our in-house car broker team, Vehicles Direct, can search our national network of dealerships to find the best available model for you.

Have your application prepared and approved

Once we have all the info we need, your consultant will get to work preparing your application for submission. You can receive formal approval as soon as one business day after it’s submitted.

Sign on the dotted line

We’ll send through your final loan documents and other forms to sign electronically. Once settlement is complete (which we’ll also handle for you), you’ll be the proud owner of your new or used car!

Car loan eligibility and documentation

Age

You must be at least 18 years of age

Residency

You must be an Australian citizen or permanent resident (or, in some cases, an eligible visa holder)

Income

You must be earning a stable income which is enough to comfortably support your repayments (this can start from as little as $20,000 to $26,000 per year)

Employment

You must be employed and earning a consistent income from your job

Credit score

You must meet your lender’s requirements related to your credit score

Car

Your car must meet your lender’s requirements related to type, age and condition

Driver's licence

Front and back (or another form of government-issued ID)

Payslips

Your last two consecutive payslips (or your last tax return if you're self-employed)

Savvy forms

Your Savvy application, consent form and credit guide (supplied by your consultant)

Car details

Information about your car, such as its age, is handy to have

Bank statements

90 days of bank statements may be requested, but not always

Electric vehicle purchase rebates and incentives

If you’re looking at buying an electric vehicle (EV), it’s worth knowing what incentives are on offer where you live. Here’s a rundown of what might be on the table for you:

State/territory	Incentive
ACT	Applying for finance through your dealer is convenient if you’re already buying your car from them There’s more scope for you to negotiate further inclusions to your vehicle package
Northern Territory	Free vehicle registration for eligible new and existing EVs and PHEVs Stamp duty concession of up to $1,500 (for vehicles up to $50,000)
Tasmania	$2,000 rebates for eligible new and existing EVs
Western Australia	$3,500 rebates for eligible new EVs (for vehicles up to $70,000)

Correct as of March 2025.

As of the time of writing, there are no active EV rebates or other incentives available in New South Wales, Queensland, South Australia and Victoria.

However, the Federal Government has made eligible EVs and PHEVs exempt from Fringe Benefits Tax, or FBT, up to the (increased) luxury car tax threshold. This makes them an attractive choice for those looking to take out a novated lease for their next vehicle, as you could potentially save thousands of dollars in tax by doing so.

Car loan FAQs

Can I get a car loan without a deposit?

Yes – we can help you get approved for car loans worth up to 100% of your vehicle’s purchase price. In some cases, if you decide to include on-road road costs like insurance, motor vehicle duty and registration, you could borrow more than 100% of its price!

What’s the maximum I can borrow for a car loan?

While you can be approved for the full value of your vehicle, the maximum amount you’re able to borrow will ultimately depend on factors like the value of your car, your income, savings, employment and credit history. We’re partnered with lenders who are able to approve loans for cars worth up to and beyond $100,000, provided you’re able to afford your repayments.

Do I need insurance for my car loan?

Yes – as part of your car loan agreement, you’ll need to take out a comprehensive car insurance policy. We can help you organise that during your loan application process or you can choose your own provider if you like.

Can I add a car loan to my mortgage?

Yes – it’s possible to finance a car by adding it to your mortgage. This might only mean a slight increase in your repayments each week, fortnight or month, but the amount of interest you’d pay overall would be much higher, as you’d effectively be repaying it over 20 to 30 years instead of five.

Can I get a car loan if I’m a temporary visa holder?

Depending on the type of visa you have, we might be able to help you out with approval. Your consultant will let you know if you’re eligible for a loan based on your current visa situation.

Are Centrelink payments accepted on car loan applications?

Yes – we can work with applicants who receive Centrelink income. Just tell us about the benefits you receive and we’ll let you know what we can do!

What is a balloon payment on a car loan?

A balloon payment is a bit like a deposit at the end of your loan: you can nominate a lump sum of the debt to be repaid at the conclusion of your term. They’re most common on commercial loans, but some of our lending partners can include them on standard car loans too. While having one can reduce your repayments, it’s also worth noting that it’ll increase the interest you pay overall.