Car Loan Interest Rates with Money Matchmaker™

Find, compare, apply.

Find the right car loan. Compare real offers from 11 lenders in 60 seconds. Apply with confidence.

“Super quick, I got lots of offers. All I had to do was choose which one! I went with Wisr because they were the cheapest. Thanks” - Angela

What are the lowest Car Loan interest rates?

The lowest car loan rates are generally reserved for newer vehicles that are financed with a secured car loan.

In addition, having a strong credit score and history will strengthen your ability to get alow rate car loan (even if you aren't buying a new car).

How lenders determine an interest rate

How long you have been employed is an interest rate factor.

employment history applicant

How lenders view credit history

Your credit score and history make a big impact on what interest rate you will pay. Generally, the higher your score, the lower your rate will be.

credit history applicant

What cars get the lowest rates

Lenders prefer to finance new cars over older cars and therefore provide lower rates for them.

age of car being purchased

Lowest car loan interest rates in Australia

LenderInterest Rates
PlentiRates from 4.89% p.a Comparison Rates from 5.44% p.a
WisrRates from 4.74% to 16.01% p.a Comparison Rates from 5.56% to 16.93% p.a
Finance OneCar Loans Rates from 14% to 24% p.a
Greenlight Auto Finance Rates from 16.99% to 27.99%
JacarandaRates from 5.29% to 24.99% p.a Comparison Rates from 5.84% to 29.99% p.a from 4.67% p.a Comparison Rates from 5.22% p.a
Money3Rates from 19.95% to 28.00% p.a Comparison Rates from 35.97% to 47.66% p.a
Now Finance Rates from 4.45% - 15.45% p.a Comparison Rates from 4.45% - 15.45% p.a
FairGo Finance Rates from 15.92% to 27.99% p.a Comparison Rates from 26.69% to 36.32% p.a

Notice how all these rates are ‘from’ a certain percentage?

That’s because you won’t know exactly what rate you get until you apply.

When you apply, lenders will look at you and your application and adjust your rate.

How do lenders decide what interest rate you’ll get?

Lenders assess an application for a car loan and assign an interest rate based on a number of factors:

  • The age of the vehicle - best rates will be for brand-new vehicles
  • The type of vehicle - lowest rates will be for vehicles under 4.5 tonne
  • The amount you wish to borrow - best rates will be for an amount you can easily repay
  • The length of your loan - lowest rates will be for the shortest term
  • Your credit history - best rates will be for perfect credit scores
  • Your net income - lowest rates will be for stable, high-income applications
  • If you own a property - best rates will be for homeowners

Find the best deal on car loans

Low Doc Car Loans with Money Matchmaker


Are there other ways to get a better rate?

You can get the lowest interest rates on a car loan by presenting as little risk to a lender as possible.

Interest rates are often directly tied to your risk level - the lower the perceived risk of failing to meet your repayment obligations throughout the term, the lower the interest rates available.

The lowest interest rates on a car loan are offered to borrowers who fit the profile below:

  • Clean credit history
  • Regular, stable employment for two years
  • Living at the same address for two years
  • Financing a brand-new vehicle

Now you know a little more about how to get the lowest rate, it’s time to look at why a low interest rate doesn’t always mean the cheapest loan

Will the lowest rates get me the cheapest loan?

First, answer this: what does ‘the cheapest car loan’ mean to you?

  • Cheaper repayments over your car loan term
  • Lower total interest (cost) over your car loan term

If you want to get cheaper repayments on your loan, you can consider:

  • Choosing a longer term
  • Including a balloon payment
  • Buying the newest model car you can afford
  • Avoid using a broker or intermediary like a car dealer

If you want to pay a lower amount of interest, you should consider:

  • A shorter-term car loan
  • A car loan that allows you to make additional repayments; and
  • Pay out the loan early without penalties.
  • Go direct to the lender to pay the least amount of fees

So how can I tell if the advertised rate is the cheapest?

To find the cheapest loans with the best rates, you’ll need to understand how loans are advertised.

In Australia, you’ll find two types of interest rates listed with loans:

  • The advertised rate
  • The comparison rate

The advertised rate is determined only by the interest rate applied to the loan.

**Ignore this - it’s a trap. **


Well, the only time this will matter at all is when your loan has no fees, but this doesn’t matter either because…

The comparison rate is a more realistic assessment of the loan cost - it combines the advertised rate and all the fees included with the loan.

Guess which one you’ll see more often when looking for cheap car loans or low interest car loans.

That’s right, the advertised rate. Again, ignore this and only look at the comparison rate.

This is because a comparison rate will be much higher if there are significant fees attached to the loan - which makes them unappealing to borrowers wanting the best deal.

Don’t get tricked by a deal that looks too good to be true.

What exactly makes up the comparison rate for a loan?

You can compare cheap car loans by looking at all the factors that influence your total interest amount, total repayment amount, and your regular repayment amount. These will be influenced by:

  • The interest rate on your loan
  • Whether your loan is assigned fixed-rate or variable-rate interest
  • The establishment fee for your loan
  • Any ongoing fees
  • Early repayment penalties
  • Brokerage fees - if applying through a broker
  • Balloon amount - if applied to your loan
Private Sale Car Loans with Money Matchmaker

Meet your Potential Car Loan matches

Meet Plenti
  • No Early Repayment Fees
  • No Monthly Fees
  • Get Funds 24 Hours From Approval
Meet Wisr
  • Same day decisioning
  • No admin, early repayment or "risk" fees
  • Support from real people
Meet Society One
  • No ongoing fees
  • No monthly fees
  • No Deposit Required
Meet Fair Go
  • Build your credit score by making timely repayments
  • Once approved, loans are funded in minutes
  • Flexible repayments; weekly, fortnightly, monthly options
Meet Finance 1
  • Pay your loan out early with no fees
  • Change payment dates and frequency at any time
  • Make extra repayments at any time
Meet Greenlight
  • No risk fees
  • Flexible Weekly, Fortnightly & Monthly payment frequency,
  • Make extra repayments at any time
Meet Jacaranda
  • Apply in under 8 minutes
  • Once approved, cash transferred in 60 seconds
  • No early termination fees
  • Approval in 24 hours
  • Balloon options to reduce repayments
  • No ongoing or discharge fees
Meet Money3
  • Pay your loan out early with no fees
  • Increase regular payments to suit your situation
  • Make extra repayments at any time
Meet Now Finance
  • Get a guaranteed, personalised rate in 2 minutes
  • Apply online in under 10 minutes
  • Weekly and fortnightly repayments
Meet Alex
  • $0 establishment fee: offer expires 3NOV21
  • $0 ongoing fees, early repayment fees, exit fees
  • Multi Award winning and 100% digital

The benefits of using Money Matchmaker™ to find your Car Loan

Money Matchmaker saves you time looking for your loan
Save Time

Get matched with real loan offers from up to 11 lenders, all at once.

Money Matchmaker stops you overpaying on your loans
Don't Overpay

We show you the best interest rates and repayments from each lender you match with

Money Matchmaker shows you personal loan rates unique to you
It's Personal

The rates are based on who you are and where you are at in life

Money Matchmaker puts you in control of your loan choices
You're in Control

No obligations, just the facts, make an informed choice

Money Matchmaker is 100% free to use
100% free

There are no middlemen, marked up pricing or broker fees. (We get paid by the lender)

Get matched with your perfect car loan


How Money Matchmaker™ works

Just like when you use a dating app or go to a broker, we use your answers to show you real lenders, real rates and actual repayments across all our lenders that you’re eligible for; without any broker fees or marked up interest rates.

  • You tell us about you and we scan your profile through our Money Matchmaker ™ engine.
  • We give you all the results that you match with, without any advertising or promoted offers, these are the real rates and fees, just like you’d receive when applying directly with a lender.
  • You can then choose the lender you wish to match with.

The right car loan can save you $1,000s



Money Pty Ltd,
Suite 3, Level 2,
1 Taylor Street,
Moorabbin, VIC, 3189 Australia


Money Pty Ltd trading as Money
ABN: 42 626 094 773
ACL: 528698
AFCA: 83955

© Copyright 2021 Money Ltd.


Money Pty Ltd (trading as provides information about credit products and is authorised to do so as the holder of Australian Credit Licence 528698. does not compare every Lender in Australia. We are not a broker or credit provider and when we provide information via this website, we are not providing you with a recommendation or suggestion about a particular credit product. When you apply for a credit product via the website, you are not applying with us, you are applying directly with a Lender Partner. Before entering into any credit product from one of our Lender Partners, you should confirm the rates and product information with the Lender. All information on this website is general advice only and does not take into account your objectives, financial situation or needs. You should consider whether this advice is right for you and we encourage you to seek independent financial advice.