Liberty Car Loans

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Liberty Financial is a provider of car loans, personal loans, home loans, and business loans.

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The table below displays a snapshot of Liberty’s car loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a five-year loan in NSW.

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What car loan(s) does Liberty offer?

At the time of writing, Liberty offers two main car loan options for cars and other vehicles:

Liberty Drive
Liberty Business

Liberty Drive

This loan offers the following features:

A rate of 6.69% and comparison rate of 9.18%
Loan amount up to $100,000 (Maximum loan amount of $35,000 for applicants under 23 years of age)
Repay weekly, fortnightly or monthly
Available to borrowers under the age of 23 years (reduced maximum loan amount of $35,000)
Option to add Insurance Shortfall Protection, where in the event that your car is written off, you won’t have to continue loan repayments

Liberty Business

This loan offers the following features:

Rate from 5.99%
Loan amount up to $100,000 (maximum loan amount of $35,000 for applicants under 23 years of age)
Loan term up to 7 years
Repay weekly, monthly or fortnightly
Ability to do balloon payments
Option to add Insurance Shortfall Protection, where in the event that your car is written off, you won’t have to continue loan repayments
Older vehicles available up to 20 years

Is your car eligible for a secured loan with Liberty?

To be eligible for a secured car loan with Liberty, your application will be subject to its normal lending criteria. Generally, your chosen vehicle might need to be:

For personal use
Less than seven years old
A new or used vehicle

However, Liberty’s Liberty Business loan option allows for cars to be up to 20 years old.

Check the PDS (product disclosure statement) for more information on Liberty’s car loan criteria.

Does Liberty also offer personal loans?

Yes, Liberty does offer both secured and unsecured personal loans as well as its car loan product. The table below displays a snapshot of Liberty’s personal loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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Liberty Financial FAQs

The minimum loan amounts for both the Liberty Drive and Liberty Business loans is $5,000, with the maximum amount being $100,000. However, the maximum loan amount is $35,000 for applicants aged 23 and under.

The minimum loan term amount that Liberty offers for both their Drive and Business loan options is 2 years, with a maximum loan term of 7 years.

There are a number of fees to be aware of when taking out a car loan with Liberty:

Application fee – varies
Ongoing fee – $5 per month
Discharge fee – $125

See the relevant fees and charges documents for more information or contact Liberty on 13 11 33 (Monday to Friday 8am-6pm)

See this article for look at the average fees currently charged by car loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017), to see if Liberty’s fees are more or less what the average customer is paying.

Applying for a Liberty car loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with Liberty (or most providers in Australia for that matter), you generally need to meet the following criteria:

The car or motorcycle must be for personal (or business) use
You must be 18 or over
You must be a permanent Australian resident or valid work visa holder
Currently employed with a stable income
Have a solid credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

A current driver’s license
Details of your current and previous (if applicable) employer
Details of your income, assets, expenses and liabilities
Previous tax returns if you are self-employed

You may also require your current account number for Liberty if you’re an existing member.

Liberty was founded in 1997 to provide flexible finance. So far they have helped over 140,000 customers in Australia and New Zealand.

Liberty offers a Free Property Report for you to find out what housing prices have done in your area over the past year.

They also present the Liberty Barometer, a blog of podcasts and articles about the latest news and tips for “small business, property, and everything in-between”.

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