There are many lenders beyond the big four banks that offer car loans in Australia. Online only lender loans.com.au is one such alternative.
What is loans.com.au?
Established as an online lender in 2011, loans.com.au is the retail arm of Firstmac, one of Australia's most prominent non-bank lenders.
Managing Director of loans.com.au Marie Mortimer says loans.com.au uses a direct-to-borrower online model, which allows it to cut costs like broker commissions and branch presence.
"Those cost savings are passed along to our customers in terms of cheaper interest rates," Ms Mortimer told Savings.com.au.
What car loans does loans.com.au offer?
New car loans
loans.com.au offers both variable and fixed rates for its new car loan. The loan term is between 3-7 years, and you can borrow from $10,000 up to $150,000. loans.com.au also allows its new car loan to go towards a demo car - a car at a dealership that might have been driven for test drives and the like.
Used car loans
loans.com.au also offers loans for vehicles up to twelve years old. The used car loan has the same term lengths (3-7 years) and loan size ($10,000 - $150,000) as the new loan, but interest rates may be slightly higher compared to loans for new cars.
Caravan loans
loans.com.au is one of a few lenders to offer specialised caravan loans. Currently, just on variable rates, the caravan loan can be anything from $10,000 to $150,000 and can be used for new or used caravans.
loans.com.au car loan rates
Like most lenders loans.com.au has a range of possible rates for car loans. The rate you'll pay can depend on things like the car you're buying, your loan, and your credit score (loans.com.au uses Equifax).
These are the latest advertised rates on its range of products:
| Lender | Car Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Interest Type | Vehicle Type | Maximum Vehicle Age | Ongoing Fee | Upfront Fee | Total Repayment | Early Repayment | Instant Approval | Online Application | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.94% p.a. | 7.07% p.a. | $579 | Variable | New | $8 | $400 | $34,749 |
| Promoted | Disclosure | |||||||||
5.94% p.a. | 7.07% p.a. | $579 | Variable | Used | $8 | $400 | $34,749 | ||||||||||||
5.94% p.a. | 7.07% p.a. | $579 | Variable | Used | $8 | $400 | $34,749 |
| Disclosure | ||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | Used | $8 | $400 | $35,634 |
| Promoted | Disclosure | |||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | Used | $8 | $400 | $35,634 | ||||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | Used | $8 | $400 | $35,634 | ||||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | Used | $8 | $400 | $35,634 | ||||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | Used | $8 | $400 | $35,634 | ||||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | New | $8 | $400 | $35,634 | ||||||||||||
6.99% p.a. | 8.12% p.a. | $594 | Fixed | New | $8 | $400 | $35,634 |
loans.com.au car loan review
Features
Features on loans.com.au car loans include:
- Redraw of up to $5,000 per day is available on variable rate loans
- Flexible repayment options: Borrowers can choose between weekly, fortnightly or monthly repayments.
- Unlimited additional repayments on both variable and fixed rates
Approval time
loans.com.au currently advertises that car loan applications are generally approved within 24 hours, subject to the applicant supplying all the required documents and information.
Fees
As of July 2026, loans.com.au has the following fees on its car loan products:
| Variable rates | Fixed rates | |
|---|---|---|
| Application fee | $400 | $400 |
| Monthly fee | $8 | $8 |
| Early termination fee | $0 | $700 in the first two years of the loan term, $500 in subsequent years (excluding final year) |
"You can find out if you pre-qualify for a low rate loan in just minutes.
"The application process is easy, online, plus we’re here to help at each step of the way.
"By keeping our interest rates low and revolutionising the loan application process, we keep on winning awards for our products, innovations and customer service, year after year.
"By offering a competitive, low fixed car loan rate and a transparent offer, our customers know exactly what they're getting, every time."
How to get a loans.com.au car loan
loans.com.au has a streamlined process to both get a quote and apply for a car loan.
"Chat to a lending specialist on the phone or fill out a quick two-minute form," Ms Mortimer said.
"From there, you'll download our app onTrack on your desktop or device to upload documentation such as payslips and bank statements, and track the progress of your application.
"After your loan settles, you can manage your loan via our easy-to-use app Smart Money, which is a desktop and app based online banking portal."
Lending requirements
For a smooth loan application you may need to provide:
Personal information and identification
Proof of income
2 most recent payslips
Bank statements for the last 3 months showing your incoming and outgoing expenses
Proof of assets and liabilities
Information on any other loans you have, such as mortgage and personal loan documents
A summary of your share portfolio if you have one, or a portfolio of other investments such as bonds
A summary of your superannuation
Information about your car and insurance
A dealer invoice or contract of sale (contains address, contact numbers and ABN)
The vehicle chassis number
The year, make and model of the car
Information on the vehicle’s registration
Information on the car’s fuel efficiency
In the interest of full disclosure, loans.com.au and Savings.com.au are both associates of Firstmac.
