Compare car loan pre-approval

The table below displays car loans with pre-approval available, from our Online Partners.

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Editor-in-Chief
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promoted
Fees & charges apply. Australian Credit Licence 488228.
6.28%
Fixed
6.28%
$389.27
dot
Canstar Outstanding Value Award Winner - Personal Loans
dot
Used Cars with no vehicle age limit, Borrow between $5,000 - $100,000
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No early repayment, exit or monthly fees
24hr approval available
Fees & charges apply. Australian Credit Licence 488228.
Fees & charges apply. Australian Credit Licence 488228.
promoted
Fees & charges apply. Australian Credit Licence 237391.
5.99%
Fixed
6.34%
$386.56
dot
Get a great rate, no penalties for early pay-out.
dot
Apply Online in 10 Minutes
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No monthly fees.
24hr approval available
Fees & charges apply. Australian Credit Licence 237391.
Fees & charges apply. Australian Credit Licence 237391.
promoted
Fees & charges apply. Australian Credit Licence 364340.
6.59%
up to 18%
Fixed
7.15%
up to 18.62%
$392.17
up to $507.87
dot
Over 25 years asset finance experience
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Our panel of 35 lenders are here to help you!
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Application fee displayed is inclusive of broker fee, broker fee may vary.
24hr approval available
Fees & charges apply. Australian Credit Licence 364340.
Fees & charges apply. Australian Credit Licence 364340.
promoted
Fees & charges apply. Australian Credit Licence 531492.
6.74%
up to 17.19%
Fixed
8.87%
up to 19.38%
$393.58
up to $499.10
dot
Compare rates from 30+ lenders
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Specialist support from local experts
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Application fee displayed is inclusive of broker fee, broker fee may vary.
Fees & charges apply. Australian Credit Licence 531492.
Fees & charges apply. Australian Credit Licence 531492.
promoted
Fees & charges apply. Australian Credit Licence 488228.
6.28%
Fixed
6.28%
$389.27
24hr approval available
Fees & charges apply. Australian Credit Licence 488228.
Fees & charges apply. Australian Credit Licence 488228.
promoted
Fees & charges apply. Australian Credit Licence 237391.
5.99%
Fixed
6.34%
$386.56
24hr approval available
Fees & charges apply. Australian Credit Licence 237391.
Fees & charges apply. Australian Credit Licence 237391.
promoted
Fees & charges apply. Australian Credit Licence 237391.
6.84%
Fixed
7.19%
$394.52
24hr approval available
Fees & charges apply. Australian Credit Licence 237391.
Fees & charges apply. Australian Credit Licence 237391.
promoted
Fees & charges apply. Australian Credit Licence 238311.
7.99%
Fixed
8.27%
$405.43
Fees & charges apply. Australian Credit Licence 238311.
Fees & charges apply. Australian Credit Licence 238311.
promoted
Fees & charges apply. Australian Credit Licence 246780.
9.74%
Variable
10.10%
$422.39
24hr approval available
Fees & charges apply. Australian Credit Licence 246780.
Fees & charges apply. Australian Credit Licence 246780.
promoted
Fees & charges apply. Australian Credit Licence 239933.
12.99%
Variable
13.36%
$454.96
24hr approval available
Fees & charges apply. Australian Credit Licence 239933.
Fees & charges apply. Australian Credit Licence 239933.

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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 car loan pre-approval?

Car loan pre-approval is when your lender agrees in principle to give you a loan to buy a car before you buy it. Similar to other loan application processes, the lender will typically evaluate your financial circumstances to work out how much you can afford to borrow.

A pre-approval could give you a better idea of your price range before you walk into the car dealership or jump online. It could also help you avoid spending more than you can afford.

Something to keep in mind is that car loan pre-approvals in Australia are usually only valid for a limited time, generally ranging from one to three months. Given this time limit, it may be helpful to have done some research and be ready to start the car hunt as soon as you have the pre-approval.

You can use the table at the top of this page to compare car loans where pre-approval is offered as an option. Change the selector and filters to suit your requirements, such as the age of the car – new or used.

Frequently Asked Questions about Car Loan Pre-Approvals

With car loan pre-approvals, it’s important to note that the pre-approval doesn’t mean the loan is a guarantee. This is because the lender has only granted you conditional approval, where you are accepted in principle for a loan up to a certain amount.

However, your lender may not accept the loan for all vehicle types and once you know what you want to buy, you will most likely have to submit a full car loan application. Unconditional approval is the next step after your loan application has been successfully reviewed. It means the lender is prepared to give you a loan for a specific amount for a specific vehicle.

Depending on the lender you choose, you may be able to apply for a car loan pre-approval online, over the phone or in a branch. Generally, obtaining pre-approval involves similar steps to applying for full approval on a car loan.

These steps include:

  1. Checking your credit rating before you put in an application. Your credit rating or credit score is a number that gives lenders an indication of how trustworthy you are likely to be as a borrower, and many lenders in Australia use credit scores to help them assess loan applications. Checking your score in advance may give you an idea of whether you are in a good position to apply for credit or if you need to take time to improve your score.
  2. Gathering all the necessary documents and personal details for a loan application. This could include proof of identity and proof of your ability to make repayments (through income, assets and liabilities such as credit cards or other loans).
  3. Comparing your options to help ensure you get a good deal on a loan that suits your financial situation. It could be worth looking at the interest rate and fees for any loans you’re considering, as well as the features on offer (such as flexibility in how you make repayments).
  4. Getting in touch with the lender you wish to apply for pre-approval with. Note that as well as potentially checking your credit score, the lender may wish to get in touch with people such as your employer, other lenders you’ve borrowed from in the past or previous property managers to verify the information you provided.

If you’re pre-approved, you can consider if you’d like to start car shopping.

Check your credit score for free

As with any financial decision, applying for car loan pre-approval can have benefits and drawbacks. Here are some of the potential pros and cons to consider:

Potential pros of car loan pre-approval

  • It could help you understand your price range and make an offer on a car with confidence.
  • It could prevent you from being pushed into spending more than you can afford.
  • It could remove the need to negotiate loan terms with a car salesperson as the finance is already lined up.

Potential cons of car loan pre-approval

  • It is usually only valid for a limited time.
  • Not all lenders offer pre-approval for car loans

Latest in 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.

Personal and Car Loans Awards

About the authors

Nina Rinella, Editor-in-Chief

Nina Rinella
As Canstar’s Editor-in-Chief, Nina heads up a team of talented journalists committed to helping empower consumers to take greater control of their finances. Nina has written countless articles about finance and has been interviewed on finance topics by media organisations including The Australian, Realestate.com.au, Domain, the Herald Sun and the Sydney Morning Herald. Previously Nina founded her own agency where she provided content and communications support to clients around Australia for 8 years. She also spent four years as the PR Manager for American Express Australia, and has worked at a Brisbane communications agency where she supported dozens of clients, including Sunsuper and Suncorp. When she’s not dreaming up ways to put a fresh spin on finance, she’s taking her own advice by trying to pay her house off as quickly as possible and raising two money-savvy kids. Nina has a Bachelor of Journalism and a Bachelor of Arts with a double major in English Literature from the University of Queensland. She’s also an experienced presenter, and has hosted numerous events and YouTube series. You can follow her on LinkedIn and Canstar on Facebook. Meet the Canstar Editorial Team. Have a media enquiry, and interested in featuring Nina as a financial expert and commentator? Contact Canstar’s Media Team today.

Joshua Sale, GM, Research

Joshua Sale
Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research Team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products. As one of Canstar’s company spokespeople, Joshua is confident participating in print, radio and broadcast journalism interviews. He has participated in interviews with the Australian Financial Review, news.com.au and Money Magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends. You can follow Joshua on LinkedIn. Have a media enquiry, and interested in featuring Joshua as a financial expert and commentator? Contact Canstar’s Media Team today.

Important information

For those that love the detail

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

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more. Payment of fees for ads does not influence our Star Ratings or Awards.

The Car and/or Personal Loan Star Ratings identified in the tables are updated monthly. The results don’t include every provider in the market and we may not compare all features relevant to you. Current rates and fees are displayed and may be different to what was rated. You can find a description of the initial sort order below the table. You can use the sort buttons at the top of each column to re-order the display. Learn more about our Car Loans Star Rating Methodology. The rating shown is only one factor to take into account when considering products.

The products and Star Ratings in the table might not match your exact inputs in the selector. Sometimes the methodology uses profiles with categories or bands (e.g. income, loan amount or monthly spend), but sometimes a single methodology, without any categories or bands, is applied. The results will show the products that most closely match your selection, based on our profiles. If you are unsure about any terms used in the comparison table please refer to the glossary.

What is a Target Market Determination?

A Target Market Determination (‘TMD’) is a document that explains which people particular financial products may be suitable for (the target market) and sets out any conditions around how financial products can be distributed to consumers.

Why do product issuers provide Target Market Determinations?

From 5 October 2021, TMDs are compulsory for most financial products.

Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer.

We recommend that you consider the TMD before making a purchase decision. Contact the product issuer directly for a copy of the TMD.

Any advice on this page is general and has not taken into account your objectives, financial situation or needs. Consider whether this general financial advice is right for your personal circumstances. Canstar provides information about credit products. We’re not suggesting or recommending a particular credit product for you. If you decide to apply for a loan, you will deal directly with the provider, not with Canstar. Consider the Target Market Determination (TMD) before making a purchase decision. Contact the product issuer directly for a copy of the TMD. It’s important you check rates and product information directly with the provider. For more information, read our Detailed Disclosure. ^Read the Comparison Rate Warning.

Canstar is not providing a recommendation for your individual circumstances. We cannot and do not recommend that any particular product is suitable for you. 

We provide links to our Online Partners. These are brands that may pay Canstar a fee for referring you. Our tables default to display only our Online Partners’ products initially, you can adjust the Online Partner Filter to see all of the products available for comparison on Canstar’s website. We provide these links so that you can click through to the product provider’s website to get more information. The provision of these links does not constitute a recommendation by Canstar.

Canstar may earn a fee from its Online Partners for referrals from its website tables, and from sponsorship or promotion of certain products. Fees payable by product providers for referrals and sponsorship or promotion may vary between providers, website position, and revenue model. Sponsorship/promotion fees may be higher than referral fees. If a product is sponsored or promoted, it’s an ad and it is clearly marked as such. An ad might appear in different places on our website, such as in comparison tables and articles. Ads may be displayed in a fixed position in a table, regardless of the product's rating, price or other attributes. The location of an ad doesn’t indicate any ranking or rating by Canstar. Payment of fees for ads does not influence our Star Ratings. See How We Get Paid to find out more.