Lender offers its 'lowest rate ever' on a car loan

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on October 13, 2021
Lender offers its 'lowest rate ever' on a car loan

For new electric and hybrid cars, loans.com.au has launched its 'lowest rate ever' for homeowners.

Online lender loans.com.au has launched its 'lowest car loan rate ever' at 3.29% p.a. (3.89% comparison rate) for new electric and hybrid cars.

Additionally, loans.com.au is now offering a car loan rate for new and used cars up to five years old at 3.99% p.a. (4.53% comparison rate). 

These rates are available to customers that already have a mortgage.

For non home owners, or renters, both car loans are 1% higher - the green car loan is 4.29% p.a. (4.89% comparison rate), and cars up to five years old is 4.99% p.a. (5.53% comparison rate).

The online lender has also expanded its car loan offerings to cars up to 12 years old.

For cars over five years old, car loan rates start from 5.19% p.a. (5.74% comparison rate).

Non home owners will also have a 1% higher rate - starting from 6.19% p.a. (6.74% comparison rate) - on cars over five years old.

Marie Mortimer, loans.com.au Managing Director, said she is excited about what these new rates could mean for Australian homeowners looking to buy a new or used car.

"These are the lowest car loan rates we have ever offered, and we are very excited to help make the car finance and car buying process easier in what can be a difficult time for some people due to stock levels or other reasons," Ms Mortimer said.

"We’re rewarding customers for going green, or choosing an environmentally friendly option like a hybrid or electric vehicle with rates as low as 3.29%.

"But we can also help with a wider range of vehicles, from new cars, to used cars up to 12 years old from a dealership."

These new rates come shortly after loans.com.au launched its car buying service, OnlineAuto.com.au, to address common pain points of buying a car.


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

Lender

VariableNew1 yearMore details
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Electric and Hybrid Car Loan

    FixedNew2 yearsMore details
    QUICK APPLICATION PROCESS WITH NO FEES
    • Quick application process and no monthly fees
    • Low fixed interest rates with terms of up to seven years
    • New car loans cover cars up to 3 years old
    QUICK APPLICATION PROCESS WITH NO FEES

    New Vehicle Fast Loan Low Rate

    • Quick application process and no monthly fees
    • Low fixed interest rates with terms of up to seven years
    • New car loans cover cars up to 3 years old
    FixedNew, Used5 yearsMore details
    • Quick application process and no monthly fees
    • Low fixed interest rates with terms of up to seven years
    • New car loans cover cars up to 3 years old

    Fixed Car Loan (with Low Emission Vehicle discount)

    • Quick application process and no monthly fees
    • Low fixed interest rates with terms of up to seven years
    • New car loans cover cars up to 3 years old

    *Comparison rates based on a loan of $30,000 for a five-year loan term. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of May 25, 2022. View disclaimer.


    Image by myenergi on Unsplash

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    author-avatar
    Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

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