Compare Used Car Loans and Rates
Looking for finance to buy a second-hand car this year? The table below displays used car loans from our online partners.

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The initial results in the table above are sorted by Star Rating (High-Low) , then Comparison rate^ p.a. (Low-High) , then Provider Name (Alphabetical) . Additional filters may have been applied, which impact the results displayed in the table - filters can be applied or removed at any time.
What is a used car loan?
If you’d like to buy a used car but don’t have the savings to cover the full cost, a used car loan is one option that you could choose to finance your purchase. You may decide to borrow the entire cost of the car as a loan, or fund some of it out of savings and pay for the rest of it with used car finance. You can use the tool at the top of this page to compare car loans for used cars, and use Canstar’s 2024 Personal and Car Loans Awards to help you form a shortlist of providers that offer Outstanding Value on used car finance rates, which may be able to help you find the right loan for your needs.
Explore further: The best ways to finance a car in Australia
How does a used car loan work?
To get a used car loan, you typically need to apply via a lender, such as a bank, financial institution or even a car dealership, detailing how much money you think you will need to buy the car you want. You may not need to know exactly what car you want to buy, but it’s a good idea to work out what your budget is and, importantly, how much you can afford to pay in repayments before you apply.
During the approval process, you’ll be asked questions about your financial status, such as your income and expenses, as well as details such as your date of birth and address. You may also be asked to provide certain documents to support your application.
When you enter a contract for a car loan, the amount of money you borrow has to be paid back within a certain period of time (called a term), usually in regular repayments. The length of the term can vary, depending on the lender you choose and the agreement you reach with them. In addition to requiring you to pay back the amount you borrow, lenders will also charge you interest on the balance, at either a fixed or variable rate, plus any fees and charges.
You could use Canstar’s Car Loan Repayment Calculator to get an idea of what your potential repayments will cost you.
Frequently Asked Questions about Used Car Loans
Canstar Car Loans Star Ratings and Awards
Looking for an award-winning car loan or to switch lenders? Canstar rates products based on price and features in our Personal and Car Loans Star Ratings and Awards. Our expert Research team shares insights about which products offer 5-Star value and which providers offer outstanding value overall.
Canstar rates a range of financial products, covering banking, insurance and investment. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
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About the authors
Nina Rinella, Editor-in-Chief

Joshua Sale, GM, Research

Important information
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This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.