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Car loan questions?

Car finance involves so much more than the rate you pay. We test drive different options to help you fund your new car.

Match the car you love with the finance option that's right for you

New or used – it can impact the rate you pay

Buying a new car can mean paying more for your vehicle, but the flipside is that lower interest rates may apply to finance. Lenders may ask for your car to act as security for your loan, and as used cars have a lower market value, it’s likely you would pay a higher rate on finance than with a new vehicle.

Car loans are not all the same

No matter whether your car is new or used, it is important to shop around for the best possible deal.

Car loans are definitely not all the same. Along with variations in the rate you pay, you also have the freedom to choose between fixed and variable rates, different terms, and even loan features.

Many car loans allow fee-free extra repayments to help you clear the debt sooner and save on interest charges, and some lenders even permit redraw on car loans, so your money is available if it’s needed for unexpected bills.

We can sort through our wide panel of lenders to find a competitively priced car loan with a rate that suits your budget and the features to suit your lifestyle. We’ll even complete the loan application on your behalf and follow its progress all the way to settlement leaving you free to focus on finding the right car.

Loan pre-approval – worth considering

There are good reasons to organise your car loan before you find the right vehicle.

Having your loan pre-approved means finance is lined up when you are ready to make an offer, so you won’t miss out to a more organised buyer. With finance in place, you can negotiate with confidence.

Not all lenders offer pre-approval, however we can identify those loans where pre-approval is an option, and start the ball rolling with finance on your behalf.

Lease or buy

Depending on your circumstances, it may make more sense to lease rather than buy your car. Leasing can free up extra cash, though you won’t normally own the car at the end of the lease unless you pay a lump sum “residual”.

The decision to lease or buy should be weighed up with your personal circumstances in mind, and it’s a choice we can help you make, based on a thorough analysis of your needs.

Free car buying service

Our free car buying service helps you save time and money when purchasing a new car. Simply talk to us about the make and model you’re interested in, and we’ll search a national network of car dealers, giving you the benefit of our volume buying power to land a great deal.

We’ll even help with the trade-in of your current car, and arrange the car loan that suits your circumstances. We’ll even arrange for your new car to be delivered to your door, complete with a full tank of fuel.

Car buying, made easier

There’s nothing quite like the feeling of driving in your new car. And it feels even better when you know you’ve secured a competitive price. But unless you have the time to visit a wide range of car dealers, there’s never been a way of knowing if you could have found a better deal. Until now that is.

Watch this video to find out about our car buying service for new cars.

What I need to know

Car loan FAQs

Answers to the questions Mortgage Choice brokers are often asked about car loans.

Find out more

Hear from our customers

"Mortgage Choice was able to secure a discounted rate for my car loan, which matched the rate offered by the dealer, and my broker kept me in the loop at every stage. I do a lot of driving as part of the business, and the new vehicle is both comfortable and very fuel efficient. These days, a day in the car is a pleasant experience and certainly a lot more economical.
My Mortgage Choice broker and I are more like old friends now, and I certainly recommend their asset finance service to anyone running their own business."

Mark Schneider - Car buyer

How can a broker help me?

Help you get pre-approval

Help get your finance sorted before you start looking for your new car, so you can shop around with confidence.

Find your local broker

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