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.

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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 TagsFeaturesLinkComparePromoted ProductDisclosure
5.94% p.a.
7.07% p.a.
$579
Variable
New
$8
$400
$34,749
  • Available for purchase of new/demo vehicle
  • Get a personalised rate, won't impact your credit score
  • Borrow from $10k to $150k, 3 to 7 yr loan term
  • Unlimited additional repayments, flexible repayment options
 Disclosure
5.67% p.a.
6.10% p.a.
$575
Fixed
New
$0
$350
$34,524
  • A leading Australian Finance Broker with proven experience you can trust
  • We've assisted more than 150,000 customers access over $8 billion in finance!
  • We are the experts at getting the keys in your hands
 Disclosure
5.95% p.a.
5.95% p.a.
$579
Fixed
New
$0
$0
$34,757
  • No vehicle age limit
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
 Disclosure
Important Information and Comparison Rate Warning
Important Information and Comparison Rate Warning
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