20 lenders, updated 30 September 2026
Compare car loans
Lenders, rates and costs side by side
To compare car loans, line up each lender's comparison rate on the same loan amount and term, then the fees, any balloon and what it costs to pay the loan off early. The cheapest option depends on the car, whether it can be used as security and your credit history, so no lender is cheapest for everyone. The table below lists the car loan lenders we cover with a link to each one's current rates, and a car finance broker can compare the lenders on their panel for you.
Car loan lenders compared
Every car loan lender in our directory, what kind of lender it is and the car loan products it offers, with a link to its current rates. For the published rate ranges, fees and vehicle age limits side by side, see the car loan interest rates guide.
| Lender | Products | Current rate |
|---|---|---|
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: 6.79%p.a. 8.20% p.a. comparison rate* Secured Fixed Rate Car Loan, Secured Fixed Rate Car Loan, secured by the car being bought: from rate for excellent credit (rates up to 11.29% p.a.); comparison on a $30,000 loan over 5 years. As at 10 Oct 2026. Source: CommBank rates page (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: 6.49%p.a. 7.90% p.a. comparison rate* Car Loan Secured, Car Loan for petrol, diesel or LPG cars, fixed rate, secured by the car: from rate; the rate offered depends on your credit assessment. As at 10 Oct 2026. Source: Westpac rates page (opens in a new tab) |
| Bank AustraliaCustomer-owned | Products:
| Current rate: 6.29%p.a. 6.29% p.a. comparison rate* Clean Energy Car Loan, Electric Vehicle Loan, fixed rate, secured, new electric vehicles; establishment fee waived for fully electric vehicles; comparison on a $30,000 secured loan over 5 years. As at 10 Oct 2026. Source: Bank Australia rates page (opens in a new tab) |
| Liberty FinancialNon-bank | Products:
| Current rate: 8.99%p.a. 10.65% p.a. comparison rate* Liberty Drive Secured, Flexible car loan, secured, new and used cars: from rate; comparison on a $30,000 new-car loan over 5 years with no balloon. As at 10 Oct 2026. Source: Liberty rates page (opens in a new tab) |
| MoneyMeSpecialist | Products:
| Current rate: 6.24%p.a. 7.13% p.a. comparison rate* MoneyMe Secured Car Loan, Secured car loan, variable rate, new or used vehicles: from rate for excellent credit history (maximum 26.35% p.a.); $12.50 monthly fee. As at 10 Oct 2026. Source: MoneyMe rates page (opens in a new tab) |
| Now FinanceSpecialist | Products:
| Current rate: 7.59%p.a. 8.43% p.a. comparison rate* NF Secured Car Loan (Tier 1), Vehicle Loan secured by the vehicle, new or used: from rate (rates up to 15.39% p.a.); establishment fee up to $595. As at 10 Oct 2026. Source: Now Finance rates page (opens in a new tab) |
| PlentiSpecialist | Products:
| Current rate: 7.99%p.a. 9.78% p.a. comparison rate* Plenti Car Loan (Tier 1), Secured car loan, new or demo vehicle, homeowner with exceptional credit: from rate (rates up to 12.99% p.a.); comparison on $30,000 over 60 months including a $14.90 monthly fee. As at 10 Oct 2026. Source: Plenti rates page (opens in a new tab) |
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
Show all 20 lendersShow fewer lenders
| Lender | Products | Current rate |
|---|---|---|
| ING AustraliaTier-2 bank | Products:
| Current rate: ING rate card (opens in a new tab) |
| IMB BankCustomer-owned | Products:
| Current rate: IMB rate card (opens in a new tab) |
| Newcastle Permanent (Newcastle Greater Mutual Group)Customer-owned | Products:
| Current rate: Newcastle Permanent rate card (opens in a new tab) |
| Teachers Mutual BankCustomer-owned | Products:
| Current rate: Teachers Mutual rate card (opens in a new tab) |
| Pepper MoneyNon-bank | Products:
| Current rate: Pepper Money rate card (opens in a new tab) |
| Angle FinanceSpecialist | Products:
| Current rate: Angle Finance rate card (opens in a new tab) |
| Latitude Financial ServicesSpecialist | Products:
| Current rate: Latitude rate card (opens in a new tab) |
| MoneyPlaceSpecialist | Products:
| Current rate: Ask a broker |
| OurMoneyMarketSpecialist | Products:
| Current rate: Ask a broker |
| WisrSpecialist | Products:
| Current rate: Ask a broker |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
* WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Car loan comparison rates are based on a secured loan of $30,000 over 5 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Car loan comparison rates are usually calculated on a $30,000 loan over five years.
How to compare car loans
Compare comparison rates on the same amount and term
Car loan comparison rates are usually quoted on a $30,000 loan over five years and fold the compulsory fees into one figure. Ask each lender for the comparison rate on your own amount and term, because a fee weighs more on a smaller or shorter loan. Car loan interest rates by lender.
Secured or unsecured
A secured car loan uses the car as security, registered on the Personal Property Securities Register (PPSR), and is usually priced lower than an unsecured loan. Lenders set an age limit on the cars they accept as security, so an older car may only qualify for an unsecured or personal loan. Secured versus unsecured car loans.
Fees and the cost of paying off early
Almost every car loan is a fixed rate for one to seven years, so check the establishment fee, any monthly fee and the early payout or break fee before you compare monthly repayments. A loan with no early repayment fee is worth more if you expect to sell or pay off the car early.
Balloon or no balloon
A balloon (or residual) lowers each repayment by leaving a lump sum to pay at the end. On a $40,000 loan over five years at 9% p.a., a 30% balloon cuts the repayment from about $830 to about $671 a month, but you still owe $12,000 at the end and pay about $2,454 more interest over the loan. Balloons and residuals.
Dealer finance against a loan you arrange first
Getting a car loan approved before you visit the dealer lets you compare the dealer's offer against it, rather than deciding in the showroom. A 0% or low-rate dealer offer can come with a higher drive-away price, so compare the total cost of the car and the loan together. Dealer finance, bank or broker.
Electric and low-emission cars
Several lenders publish a lower rate for electric and some hybrid cars. Check which cars qualify, confirm the discount in writing and compare the comparison rate, not the discount. Electric car loans.
Where you can get a car loan
Four channels finance most car purchases in Australia, and the same borrower can be offered different prices in each, so it pays to get more than one quote.
- Dealer finance: arranged at the showroom by the dealer's finance manager. It is quick and convenient, but it is one offer made after you have chosen the car. The dealer finance guide covers how dealer-arranged loans are priced.
- A bank or specialist lender directly: you apply to one lender and see one offer. Useful if you already bank there, and a way to have a car loan pre-approval in hand before you shop.
- A broker: a licensed car finance broker compares the lenders on their panel and is usually paid a commission by the lender when the loan settles. The value is the comparison and the match to a lender's policy, not a guarantee of the lowest possible rate.
- A personal loan: an unsecured loan you use to buy the car. It usually costs more than a secured car loan, but nothing is registered against the car, which can suit an older or unusual vehicle.
The default 8.49% is Westpac's published median car loan rate (comparison 9.67%) on 10 October 2026. The car loan calculator adds a deposit, trade-in and balloon.
Best car loans by category, October 2026: how we chose
For each kind of car loan, the table lists the lowest starting rate and comparison rate the lenders in this guide published on their own pages on 10 October 2026. It is a list of published starting points, not a recommendation or a rating: a starting rate goes to a borrower with a strong credit file and a car that fits the lender's rules, and most borrowers are offered more. We did not score fees beyond those in the comparison rate, service or decision times, and lenders that publish no rate are left out.
| Category | Lowest published starting point | Other published rates | Guide |
|---|---|---|---|
| Secured car loan | Lowest comparison rate: Great Southern Bank 6.49% (comparison 6.63%, no monthly fees). Lowest starting rate: loans.com.au variable 5.94% (comparison 7.07%) | Westpac and BankSA 6.49% (comparison 7.90%); NAB 6.74% (8.29%); CommBank 6.79% (8.20%) | Secured car loans |
| Electric or plug-in hybrid | Lowest comparison rate: Great Southern Bank green car loan 6.09% (comparison 6.23%) | CommBank 5.79% (7.21%) under its EV Access Program for eligible buyers, otherwise 6.49% (7.90%); NAB 5.99% (7.55%) with its EV discount | EV car loans |
| Unsecured car loan | Plenti personal loan 5.95% (comparison 5.95%) | Liberty 6.30% (6.30%); CommBank variable 6.99% (8.40%); NAB 7.50% (8.54%) | Unsecured car loans |
| Older used car | Longest published age limits: loans.com.au 15 years at the end of the term; NAB 12 at application and 15 at the end | CommBank ten years; Westpac, BankSA and Great Southern Bank seven years | Used car loans |
| Refinancing a car loan | Lowest switching costs published: NAB waives its $350 establishment fee on refinances; Great Southern Bank waives its $225 fee until 23 February 2027 | Plenti publishes a $0 early repayment fee; Pepper Money an early termination charge of up to $750 | Car loan refinance |
| Bad credit | Liberty Fresh Start 12.49% (comparison 15.06%), up to $50,000 | Money3 examples: 19.30% comparison on $25,000 over five years, 32.60% on $5,000 over two | Bad credit car loans |
| Caravan | RACV from 6.99% (comparison 7.57%) | loans.com.au 7.49% (8.62%); Liberty 9.49% (11.15%) | Caravan loans |
| Motorcycle | Great Southern Bank secured 6.49% (comparison 6.63%), bikes up to seven years old | Plenti unsecured from 5.95% (5.95%); NAB unsecured 7.50% (8.54%) | Motorcycle loans |
| Boat | RACQ Bank secured boat loan 8.19% (comparison 8.36%) | NAB unsecured 7.50% (8.54%) for a boat or jet ski | Boat loans |
Lenders checked: Westpac, BankSA, CommBank, NAB, ANZ, Great Southern Bank, loans.com.au, Plenti, Pepper Money, Liberty, Money3, RACV and RACQ Bank. Rates in brackets are comparison rates. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Car loan comparison rates are based on a secured loan of $30,000 over 5 years.
The cheapest loan for you is the one with the lowest comparison rate after the lender has assessed your application, which is why getting two or three personalised quotes matters more than any table. Quotes from lenders such as Plenti, loans.com.au and Great Southern Bank do not affect your credit score; each full application does. The car loan interest rates guide has every lender's full range and fees.
What is the $5,000 car loan from Centrelink?
There is no Centrelink car loan. Services Australia can pay part of your income support or Family Tax Benefit Part A early as an advance payment, which you repay from later payments (its page, updated 20 September 2026). For car repairs or registration, Moneysmart lists No Interest Loans of up to $2,000 with no interest or fees. A lender's car loan is assessed on whether you can afford it: Money3 says Centrelink income may be considered, while Pepper Money requires direct applicants to be employed.
Documents you will need
- Photo ID, such as a driver licence or passport
- Proof of income: recent payslips if you are an employee, or tax returns and notices of assessment if you are self-employed
- Recent bank statements showing your income and regular spending
- The car's details: make, model, year, VIN and price (a dealer contract or invoice is fine)
- Details of any loan you are refinancing or any car you are trading in
- Get the comparison rate at your exact loan amount and term, not the advertised example
- Compare more than one quote, including one you arranged before visiting the dealer
- Decide on a balloon on cash-flow grounds, not the monthly figure alone
- Confirm any electric or green car discount in writing before you rely on it
- Read the early payout terms and any fee for paying the loan off early
What are the repayments on a car loan?
| Loan amount | Monthly repayment at | ||
|---|---|---|---|
| 7%p.a. | 9%p.a. | 12%p.a. | |
| $20,000 | $396 | $415 | $445 |
| $30,000 | $594 | $623 | $667 |
| $40,000 | $792 | $830 | $890 |
| $50,000 | $990 | $1,038 | $1,112 |
| $60,000 | $1,188 | $1,246 | $1,335 |
Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. Lenders publish car loan rate ranges and set your rate inside the range after an assessment. Use the car loan calculator.
Car loan lenders by product type
Which lenders in our directory offer each kind of car loan. Each lender's page covers its products, eligibility and alternatives.