Low Rate New & Used Car Loans On Offer

With Australia’s cash rate at an historic low of just 1.50%, why not check out some of the lowest rates for new and used car loans on our database at the moment?

If you’re in the market for good car loan rates, the below tables offer a good starting point for your search. They display the lowest rates on the CANSTAR database at the time of writing based on a car loan amount of $30,000 for a five year term. Please note that these rates don’t take into account your credit history and other such factors, so not everyone can qualify for the minimum advertised rate.

Compare Car Loans With CANSTAR

There’s more to know when it comes to car loans than just the interest rate, of course. Also remember to consider the specific requirements of each car loan and any special features they may have when making your decision.

For example, Victoria Teachers Mutual Bank’s “Green Car Loan” presents itself as one of the lowest-rate new car loans on our database, but it’s only for environmentally friendly cars with a C02 value of 180g/km or less.

Read our CANSTAR guide to choosing a car loan to find out more about what to look for in a car loan.

New Car Loan Rates: Lowest rates on offer

Check out the current deals here.

Rank Company Product Comparison Rate – 30K over 5 Years (% p.a.)* Min. Rate (% p.a.)
1 loans.com.au Car Loan (New) 5.24 4.69
2 Victoria Teachers Mutual Bank Green Car Loan Fixed 5.41 5.29
3 Victoria Teachers Mutual Bank Green Car Loan Variable 5.41 5.29
4 Community First CU New Car Loan 5.97 5.34
5 360 Finance Advantage Car Loan 6.49 5.49
Source: CANSTAR. Data current as at 25 October 2016. Rank is based on the lowest minimum interest rate, then by comparison rate. Eligible loans must be available for $30,000 over a 5-year loan period.*The comparison rate is the combination of the nominal interest rate and any foreseeable fees and charges associated with the loan.

Used Car Loan Rates: Lowest rates on offer

Check out the current deals here

Rank Company Product Comparison Rate – 30K over 5 Years (%)* Min. Rate (%)
1 loans.com.au Car Loan (Used) 5.75 5.19
2 Beyond Bank Low Rate Car Loan Special Offer 5.97 5.69
3 G&C Mutual Bank Fair Rate Personal Loan 6.20 5.99
4 My Credit Union New Car Loan <3 Yrs Old 6.20% 6.24
5 Summerland Equity Plus Unsecured 6.72 6.12
Source: CANSTAR. Data current as at 25 October 2016. Rank is based on the lowest minimum interest rate, then by comparison rate. Eligible loans must be available for $30,000 over a 5-year loan period. *The comparison rate is the combination of the nominal interest rate and any foreseeable fees and charges associated with the loan.

See For Yourself. Compare Car Loans With CANSTAR

CANSTAR is an information provider and in giving you product information CANSTAR is not making any suggestion or recommendation about a particular credit product. If you decided to apply for a car loan, you will deal directly with a financial institution, and not with CANSTAR. Rates and product information should be confirmed with the relevant financial institution. For more information, read our detailed disclosure, important notes and additional information. *Read the Comparison Rate Warning.
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