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New vehicle finance

New car loans

Compare lenders and beat the dealer’s finance offer.

A new car loan is usually a fixed-rate loan secured on the car, and new cars get the lowest rates lenders publish: loans.com.au 5.94% to 16.64% on a new car, Westpac 6.49% to 12.99% and CommBank 6.79% to 10.79% in September 2026, plus CommBank’s 5.79% special rate for an eligible EV or plug-in hybrid. Dealer finance can cost more, because dealers can mark up the lender’s rate, typically by 1 to 2.5 percentage points according to Mozo. A pre-approval from a bank or broker gives you the benchmark the dealer has to beat.

What are the repayments on a $40,000 new car loan?

Monthly principal and interest repayments over 5 years, by loan amount and interest rate
Loan amountMonthly repayment at
6%p.a.8%p.a.10%p.a.12%p.a.
$30,000$580$608$637$667
$40,000$773$811$850$890
$50,000$967$1,014$1,062$1,112
$60,000$1,160$1,217$1,275$1,335
$80,000$1,547$1,622$1,700$1,780

Scroll the table sideways for more rates

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. New car ranges published in September 2026 start just under 6%; where you land depends on your credit file. Run your own numbers.

Calculator

New car loan calculator

See what your new car will cost per month

Loan amount$40,000
$10,000$150,000
Interest rate6.49% p.a.
5.00% p.a.12.00% p.a.
Loan term5 years
1 year7 years
Monthly repayment
$782.46
Total interest
$6,948
Total repayment
$46,948
Principal 85.2%Interest 14.8%
Get a personalised quote

Estimates only. Actual rate and repayment depend on your lender, loan structure and credit assessment.

New car loan lenders a broker can compare

The lenders in our directory that write secured loans on new cars, including the green car loans. The broker prices your application across the lenders on their panel and checks for EV and new-car discounts.

New car loan lenders a broker can compare: each lender's type, the products it offers and its current rate
Commonwealth Bank of AustraliaMajor bankProducts:
  • Secured (new vehicle)
Current rate:
6.79%p.a.
8.20% p.a. comparison rate*
Personal Loan Secured (New Vehicle) · 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.
Westpac Banking CorporationMajor bankProducts:
  • Secured (new vehicle)
  • EV / Green
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.
Bank AustraliaCustomer-ownedProducts:
  • EV / Green
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.
Liberty FinancialNon-bankProducts:
  • Secured (new vehicle)
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.
MoneyMeSpecialistProducts:
  • Secured (new vehicle)
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 26.10% p.a.); $12.50 monthly fee.
Now FinanceSpecialistProducts:
  • Secured (new vehicle)
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.
PlentiSpecialistProducts:
  • Secured (new vehicle)
  • EV / Green
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.
National Australia BankMajor bankProducts:
  • Secured (new vehicle)
Current rate: NAB rate card (opens in a new tab)
BankSAMajor-bank brandProducts:
  • Secured (new vehicle)
Current rate: BankSA rate card (opens in a new tab)
IMB BankCustomer-ownedProducts:
  • Secured (new vehicle)
Current rate: IMB rate card (opens in a new tab)
Show all 16 lenders
New car loan lenders a broker can compare, continued
Newcastle Permanent (Newcastle Greater Mutual Group)Customer-ownedProducts:
  • Secured (new vehicle)
Current rate: Newcastle Permanent rate card (opens in a new tab)
Teachers Mutual BankCustomer-ownedProducts:
  • Secured (new vehicle)
Current rate: Teachers Mutual rate card (opens in a new tab)
Pepper MoneyNon-bankProducts:
  • Secured (new vehicle)
Current rate: Pepper Money rate card (opens in a new tab)
Angle FinanceSpecialistProducts:
  • Secured (new vehicle)
Current rate: Angle Finance rate card (opens in a new tab)
MoneyPlaceSpecialistProducts:
  • Secured (new vehicle)
Current rate: Ask a broker
OurMoneyMarketSpecialistProducts:
  • Secured (new vehicle)
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.

See all 20 car loan lenders

* WARNING: This comparison rate is true only for the example 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.

New car loans at a glance
  • New cars sit at the bottom of the published ranges: loans.com.au from 5.94%, NAB from 5.99% (discounted), Westpac from 6.49%
  • Mozo puts the typical dealer markup on the lender’s rate at 1 to 2.5 percentage points
  • A pre-approval lets you negotiate the car’s price separately from the finance
  • Green car rates: CommBank 5.79% for eligible EVs and PHEVs to $55,000; Plenti 0.5% off new EVs to $90,000
  • Mostly fixed rates over 1 to 7 years; balloons available at some lenders

Why arrange new car finance before the dealership

Dealer finance is convenient because the car and the loan are arranged in one place, but that convenience can cost more. Arranging finance first changes three things:

You see the rates across lenders

A car loan broker compares banks, credit unions and specialist lenders; a dealer offers the products of the lenders it works with, and can add a margin on top.

You negotiate one thing at a time

When the dealer arranges the finance, the car's price, the trade-in and the rate can be moved together to make a deal look better than it is. With finance in place you negotiate each separately.

You can say no to the extras

Add-ons such as gap insurance, paint protection and extended warranties are often sold alongside dealer finance. Decide on them separately, on their own merits.

Dealer finance vs an external loan: the cost

The same $45,000 new car over five years, at Westpac's published minimum of 6.49% and with a 2-point dealer markup, inside the 1 to 2.5 points Mozo describes:

MetricDealer rate (marked up)Lender rate
Interest rate8.49% p.a.6.49% p.a.
Monthly repayment$923$880
Total interest$10,382$7,816
Extra paid on the dealer rate$2,566-

Illustrative, before fees. A manufacturer-subsidised dealer rate can beat an external loan; compare comparison rates.

Green car finance

If you are buying a new electric vehicle or plug-in hybrid, several lenders publish a lower rate:

  • CommBank: a special rate of 5.79% (comparison 7.21%) for an electric or plug-in hybrid emitting under 75g of CO2 per km, on loans of $55,000 or less
  • Plenti: 0.5% off for new EVs up to $90,000, through its Clean Energy Finance Corporation collaboration
  • NAB, Westpac and Great Southern Bank: green car rates or rewards for electric and hybrid cars
  • Novated lease: electric cars under the luxury car tax threshold for fuel-efficient vehicles ($91,661 in 2026-27) can be exempt from FBT when salary packaged, and draft law phases the exemption down for leases committed to from 1 April 2027; the EV loans guide covers the conditions
What the green rate is worth

On $55,000 over five years, CommBank's 5.79% special rate is about $1,058 a month against $1,128 at Westpac's published median of 8.49%, a difference of about $4,212 in interest over the term.More on EV finance.

The new car loan process

1
Get matched
Tell a broker the car, the price and your situation.
2
Get pre-approved
Your rate and budget, confirmed before you shop.
3
Shop like a cash buyer
Negotiate the car's price without the finance in the conversation.
4
Drive away
The lender pays the dealer at settlement.
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Related car finance guides

Explore other ways to finance your next vehicle.

Car loan interest rates
Published ranges by lender
Dealer finance vs bank vs broker
Where the dealer margin sits
Car loan broker
Who compares the lenders
Electric vehicle loans
Green car discount rates
Luxury car tax
The 33% above the threshold
Used car loans
Pre-owned vehicle finance
Secured car loans
Lower rates with security
Novated lease
Salary package your new car
No deposit car loans
Drive away with nothing down

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.

New car loan FAQs

What is a good interest rate for a new car loan?
Something near the bottom of the published ranges, which is where a new car with a clean credit file usually lands: loans.com.au published 5.94% on a new car in September 2026, NAB 5.99% (discounted), Westpac 6.49% and CommBank 6.79%, with CommBank’s special rate of 5.79% for an eligible electric or plug-in hybrid. Compare on the comparison rate, which adds the fees.
Is dealer finance or a broker loan cheaper for a new car?
Usually the external loan, on total cost. Mozo explains that dealers can mark up the lender’s buy rate, typically by 1 to 2.5 percentage points, and keep the difference. On $45,000 over five years, a 2-point markup (8.49% instead of 6.49%) costs about $2,566 more in interest. A manufacturer-subsidised rate can be the exception, so compare the dealer’s comparison rate with a pre-approval.
Can I negotiate the car price if I already have finance arranged?
Yes. With finance arranged you can negotiate the drive-away price, the trade-in and the finance as separate conversations, which stops a low headline rate being paid for through a higher car price. The dealer finance vs bank vs broker guide covers the tactics.
What is the difference between a fixed and variable rate new car loan?
A fixed rate locks in the rate and repayment for the whole term; a variable rate can move with the lender’s rates. Almost all car loans are fixed, and Moneysmart notes variable-rate car loans usually have no early exit fee, which suits a buyer planning to pay the loan off early.
Are there discounted rates for electric or hybrid new cars?
Yes. CommBank publishes a special rate of 5.79% (comparison 7.21%) for an eligible electric or plug-in hybrid with a loan of $55,000 or less, Plenti a 0.5% reduction on new EVs up to $90,000, and NAB, Westpac and Great Southern Bank publish green car rates or rewards. The electric vehicle loans guide covers the rules.
Should I get a balloon payment on my new car loan?
A balloon lowers your repayments by leaving a lump sum to the end, but you pay more interest in total and owe the balloon at the end. It suits buyers who trade in regularly and set the balloon at about the car’s expected trade-in value; if you plan to keep the car, a loan without one is usually better value. Pepper Money publishes balloons on new, demo or under-one-year-old cars.
How quickly can I get approved for a new car loan?
Often within a day. BankSA and CommBank publish a response in about 60 seconds, loans.com.au approval within 24 hours, and Pepper Money a decision within one business day of a complete application. Settlement with the dealer follows once the approval is formal and the paperwork is signed.
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