Buying a car is one of the biggest purchases Australians make outside of property. A car loan can make it more affordable — but getting the right rate and structure can save you thousands over the life of the loan.
Current Car Loan Rates — April 2026
| Lender | Rate From | Loan Amount | Best for |
|---|---|---|---|
| Plenti | 5.76% | $5k–$100k | New + used cars, fast approval |
| Wisr | 6.57% | $5k–$64k | Good credit, no early exit fee |
| Autopay | 6.24% | $5k–$150k | Car finance specialists |
| Latitude Motor Loan | 9.99% | $5k–$70k | Fixed rate, flexible terms |
| ANZ Fixed Car Loan | 8.49% | $5k–$100k | Existing ANZ customers |
Car Loan Repayment Examples
| Purchase Price | 3yr @ 6.5% | 5yr @ 6.5% | Total interest (5yr) |
|---|---|---|---|
| $20,000 | $614/mo | $391/mo | $3,480 |
| $35,000 | $1,074/mo | $684/mo | $6,090 |
| $55,000 | $1,688/mo | $1,074/mo | $9,434 |
Dealer Finance vs Bank/Online Lender
| Dealer Finance | Bank/Online Lender | |
|---|---|---|
| Rate | Often 9–14% | 5.76–9% p.a. |
| Convenience | Done at dealership | Separate process |
| Negotiating power | Lower (dealer profits) | Higher (cash buyer) |
Going to a dealer with pre-approved finance from a bank or online lender puts you in the same position as a cash buyer — giving you more negotiating power on the car price.
Calculate Your Car Loan Repayments
See your exact monthly repayments at any rate and loan term.
Disclaimer: General information only. Not financial advice. Always consult a licensed professional before making financial decisions.