The loan's interest rate for regular cars is 2.99% p.a. (3.53% p.a. comparison rate*).

For electric or green vehicles, the loan offers an interest rate 10 basis points lower at 2.89% p.a. (3.43% p.a. comparison rate*).

There are two main catches with the loan that must be met:

  • The car must be a 2022 model year, either new or demo up to 5,000km.
  • The borrower must have a home loan (doesn't have to be with loans.com.au).

loans.com.au managing director Marie Mortimer said this is the lowest car loan rate on the market.

"Buying a car has been difficult for some in the past few years given supply issues and some lenders tightening restrictions," Ms Mortimer said.

"We want to help make it easier for borrowers to buy a car and get their keys as soon as possible."

The rates are variable, and customers can make extra repayments and redraw on their loan.

There are no ongoing, monthly, or annual fees - there is however a loan establishment fee of $400.

The maximum loan amount is $100,000, and the minimum loan term is three years while the maximum is five years.

No balloon payments are allowed.

In the interest of full disclosure, loans.com.au and Savings.com.au are both associates of Firstmac.

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In the market for a new car? The table below features car loans with some of the lowest interest rates on the market.

Update resultsUpdate
Filters
LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkCompare
6.24% p.a.
7.36% p.a.
$583
Variable
New
1 year
$8
$400
$35,000
 Featured
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
6.57% p.a.
7.19% p.a.
$588
Fixed
New
No Max
$0
$250
$35,278
Loan amounts from $2k to $75k
  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
6.99% p.a.
8.11% p.a.
$594
Fixed
New
1 year
$8
$400
$35,634
Approval within 24 hoursEarly payout available
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
7.29% p.a.
8.00% p.a.
$598
Fixed
New
2 years
$0
$499
$35,889
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.

More details
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

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