Easily Compare Car Loans Interest Rates
No need to go shopping for interest rates and loans. We’ve made that quick and easy with our handy car loans interest rate guide. We’ve brought together the advertised rates from a selection of banks and lenders into the one reference chart that is also a car finance calculator. All you need to do is enter the details for the loan you want and the repayment estimates from all those lenders will be displayed.
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Best Rates for Monday, 9 September:
Discounts tailored to you.
Business Rates Start From* 
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*THE COMPARISON RATE IS CALCULATED ON A SECURED LOAN OF $30,000 FIXED FOR A TERM OF 5 YEARS, NEW GOODS, EFFECTIVE 09/09/2024 AND SUBJECT TO CHANGE. WARNING: THE COMPARISON RATE IS TRUE ONLY FOR THE EXAMPLES GIVEN AND MAY NOT INCLUDE ALL FEES AND CHARGES. DIFFERENT TERMS, FEES OR OTHER LOAN AMOUNTS MAY RESULT IN A DIFFERENT COMPARISON RATE.
| Loan Product | Interest Rate | Monthly Repayment |
| {{Loan Product}} | {{From - Advertised Rate}} {{Rate Type}} |
${{Payment Amount}} Monthly |
Easy Explainer - why car loan interest rates vary with lenders
The rates advertised and offered by different banks and lenders will vary based on a number of factors, including:-
- Rates advertised will be for new cars and for applicants with a good credit profile, unless otherwise specified.
- Lenders have their own guidelines for rates based on their own assessment of the motor vehicle market, the economy and other issues.
- Lenders have varying costs in acquiring their own funding which may be reflected in their rates.
- Varying interest in being competitive in the motor vehicle finance sector.
- Specialising in car loans or general finance lender.
Explainer: advertised rates and comparison rates
In consumer finance, that is personal car loans, lenders are required by Australian law to display both an advertised rate and a comparison rate. The comparison rate is a rate which is based on a specific car loan (as noted in the advertisement), based on the advertised rate and including some but not necessarily all lender fees and charges.
Easy Explainer – differing interest rates for different loan types
- Rates may vary for secured and unsecured loans.
- Secured loans typically attract a lower rate than unsecured loans.
- Rates may vary for new and used vehicles.
- Rates may vary depending on the loan amount requested when assessed against the creditworthiness of the applicant. A high loan amount may be viewed as higher risk and attract a higher rate.
- The credit profile of the applicant has a significant impact on the rate offered.
- A better credit score can typically attract a better interest rate offer.
- The age and condition of the vehicle can affect the rate and the loan offer.
- The interest rates vary for business vehicle finance and personal car loans.
Easy Tips: How to get the cheapest car loan interest rate
While the interest rate offered by a lender will be based on individual aspects of the application, the credit profile forms an important part of the assessment. Prior to applying for new loans, applicants may work to improving their credit score and improving their personal balance sheet by paying down other debts such as credit cards.
Businesses seeking cheaper motor vehicle finance may improve their prospects of being a offered a cheaper rate by supporting the application with full documentation around their financial position.
Let Easy Car Finance source the cheapest rate for your car loan – Contact Us Today!
