Car Loans - November 16th
According to the Federal Chamber of Automotive Industries (FCAI), the Toyota Hilux re-claimed first place as the top-selling vehicle, with 4,401 sales in October. Total sales for October - including passenger cars, SUVs, light and heavy…– Read more
Car Insurance - October 29th
Is it possible to take out a personal loan secured against your car? What about taking out a car loan, using the car in question as security? Here's the low-down.– Read more
Car Loans - October 4th
Let's break down some things you need to know about selling a car with an outstanding loan. Trading in a car with finance owing - can I do it? You can trade in your car to a dealership…– Read more
A car loan is a type of personal loan used for buying a motor vehicle such as a car, ute, 4WD, motorbike, or other road vehicle. A car loan is helpful when you don’t have enough savings to afford the vehicle of your choice, but you can afford to repay a loan in monthly instalments.
There are a few different types of car loans:
Some of the pros and cons of car loans are worth thinking about before deciding whether or not a car loan is right for your circumstances:
Canstar compares personal loans with our unique, sophisticated car loans star ratings methodology, which looks at both pricing and features. We present the results with our consumer-friendly star ratings, with a 5-star rating signifying that a car loan offers outstanding value to consumers.
Some of the features Canstar compares for car loans are:
You can read the full car loans star ratings report for more information.
Compare car loans products yourself, based on your own requirements, using the comparison selector tool at the top of the page.
Written by: TJ Ryan and Tim Smith
Please note that these are a general explanation of the meaning of terms used in relation to car loans. Loan terms may use different wording and you should read the terms and conditions of the relevant loan to understand the requirements of that loan. You cannot rely on these terms to the part of any loan you may purchase. You should refer to the product disclosure statement (PDS).
Below are some of the car loan providers we rate:
Compare car loans using the comparison selector tool at the top of this page.