New Vehicle Finance

New Car Loans from 5.49% p.a.

Beat the dealer. Our new car loan rates consistently undercut dealer finance because we compare wholesale rates from over 50 lenders. Get pre-approved and negotiate as a cash buyer.

Comparison rate 6.12% p.a.* on a $35,000 secured new car loan over 5 years.

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New Car Loan Calculator

See what your new car will cost per month

Loan Amount

$40,000

$10,000$150,000

Interest Rate (p.a.)

6.49%

5.00%12.00%

Loan Term

5 years

1 years 7 years

Monthly Payment

$782.46

Total Interest

$6,948

Total Repayment

$46,948

Principal (85.2%)Interest (14.8%)

Principal: $40,000

Interest: $6,948

This calculator provides estimates only. Actual rates and repayments may vary based on your circumstances and lender requirements.

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New Car Loans at a Glance
Lowest rates on the market from 5.49% p.a. because new cars carry less risk for lenders
Broker rates consistently beat dealer finance — save $2,000 to $5,000 over the life of the loan
Pre-approval turns you into a cash buyer, strengthening your negotiating position on price
Green car discounts of 0.50-1.00% available for electric and plug-in hybrid vehicles
Fixed and variable rate options with terms from 1 to 7 years

Benefits of Financing a New Car Through a Broker

Buying a new car is exciting, but the finance decision you make can cost or save you thousands. Many Australians default to dealer finance because it feels convenient — the car and the loan are arranged in the same place. But that convenience comes at a price. Here is why smart buyers arrange finance through a broker before visiting the dealership:

Access to wholesale rates — brokers compare rates from 50+ lenders including banks, credit unions, and specialist financiers. Dealers typically offer products from just 2-4 lenders, with a margin added on top.
Separation of negotiations — when you finance through the dealer, they can manipulate the car price, trade-in value, and finance rate together to create the illusion of a good deal. Pre-approved finance lets you negotiate each element independently.
No pressure tactics — dealer F&I (Finance and Insurance) managers are trained to sell high-margin products like gap insurance, paint protection, and extended warranties. A broker provides objective advice without the upsell.
Full transparency — under our Australian Credit Licence, we must disclose all commissions and act in your best interest. You see exactly what rate you are getting and how much the lender pays us.

Dealer Finance vs. Broker Finance: Real Cost Comparison

To illustrate the real-world difference, consider a $45,000 new Toyota RAV4 financed over 5 years:

Metric	Dealer Finance	Broker Finance
Interest Rate	8.49% p.a.	5.99% p.a.
Monthly Repayment	$919/month	$869/month
Total Interest Paid	$10,140	$7,140
Total Saving	—	$3,000
Service Cost to You	$0 (built into rate)	$0 (lender pays)

Example is illustrative only. Actual rates and savings depend on individual circumstances.

Green Car Finance Incentives

If you are considering a new electric vehicle (EV) or plug-in hybrid (PHEV), you could access even lower rates. Several lenders on our panel have introduced green car discount rates to encourage the transition to cleaner transport. Here is what is available:

Green rate discounts — 0.50% to 1.00% below standard new car rates for eligible battery electric and plug-in hybrid vehicles
FBT exemption — electric vehicles under the luxury car tax threshold for fuel-efficient cars ($91,387 in 2024-25) are exempt from Fringe Benefits Tax when salary packaged through a novated lease
State rebates — NSW, VIC, QLD, SA, and ACT have offered rebates of $2,000-$3,000 for new EV purchases (check current availability as programs change)
Running cost savings — beyond finance, EVs typically cost $0.03-$0.05 per kilometre for energy vs. $0.12-$0.18 for petrol, saving $1,500-$2,500 annually for average drivers

EV Green Rate Example

A $55,000 Tesla Model 3 at a green rate of 4.99% p.a. over 5 years costs $1,037/month. At a standard dealer rate of 8.49%, the same car costs $1,126/month — that is $5,340 extra in interest.Learn more about EV finance.

The New Car Loan Process

Apply Online

Complete our simple online form in 5 minutes. No documents needed for pre-approval.

Get Pre-Approved

Receive your rate, budget, and pre-approval letter. Valid for up to 90 days.

Shop as a Cash Buyer

Visit dealers with your finance sorted. Negotiate on price alone without the finance pressure.

Drive Away

Once you choose your car, we settle directly with the dealer. Usually complete within 24 hours.

Related Car Finance Options

Explore other ways to finance your next vehicle.

Used Car Loans

Pre-owned vehicle finance

Electric Vehicle Loans

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Secured Car Loans

Best rates with security

Novated Lease

Salary package your new car

Chattel Mortgage

Business vehicle finance

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 based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.

New Car Loan FAQs

Is dealer finance or a broker loan cheaper for a new car?

In most cases, a broker loan is cheaper. Dealers typically add a margin of 1-4% on top of the lender rate as their commission. A broker compares wholesale rates from 50+ lenders and passes the savings to you. On a $40,000 loan over 5 years, the difference can be $2,000-$5,000 in total interest saved.

Can I negotiate the car price if I already have finance arranged?

Absolutely — having pre-approved finance is a powerful negotiating tool. Dealers view you as a cash buyer because the funds are guaranteed. This removes their ability to inflate the car price to offset a low finance rate. Many buyers save $1,000-$3,000 on the vehicle price alone by negotiating as a pre-approved buyer.

What is the difference between a fixed and variable rate new car loan?

A fixed rate locks in your interest rate and repayment amount for the entire loan term, providing certainty. A variable rate can move up or down with market conditions. Most new car buyers prefer fixed rates for budgeting certainty. Variable rates sometimes start lower but carry the risk of increasing over time.

Are there discounted rates for electric or hybrid new cars?

Yes, several lenders on our panel offer green car discount rates — typically 0.50% to 1.00% below their standard new car rates — for battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Combined with FBT exemptions and state-based rebates, EVs can be significantly cheaper to finance.

Should I get a balloon payment on my new car loan?

A balloon (residual) payment reduces your monthly repayments by deferring a lump sum to the end of the loan. This can be useful for cash flow but means you pay more total interest and owe a large amount at loan end. Balloons suit buyers who plan to trade in regularly. If you intend to keep the car long-term, a standard loan without a balloon is usually better value.

How quickly can I get approved for a new car loan?

Pre-approval can be issued within minutes of submitting your application. Formal unconditional approval typically takes 2-4 hours for PAYG employees with clean credit. Once approved, settlement with the dealer usually happens within 24-48 hours.

Ready to Beat the Dealer?

Get pre-approved in minutes and save thousands on your new car finance.

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