Applying is quick, simple and online. Choose between a secured or unsecured loan and get you behind the wheel of your dream car.
CAR LOANS
Vehicle finance for new & used cars
Competitive rates
Our rates are tailored to you. For borrowers with excellent credit our secured rates for new cars start from 5.90% p.a. (6.33% p.a. comparison rate^).
Smarter loans, and less fees
Unlike other lenders, we won’t penalise you for paying out your loan earlier. We have no monthly or early repayment fees.
Save thousands
Customers that consolidated their credit cards with MoneyPlace saved an average of $4,237 in interest.#
You're in good company
There’s a reason we’re so highly rated on ProductReview, TrustPilot and Google.
Secured car loans
Provided your new set of wheels is in good working condition and no more than 20 years old at the end of your loan, you can apply for a secured car loan. With a secured car loan you may be offered both a lower interest rate and be able to borrow a higher amount than an unsecured the loan (restrictions apply to certain high performance or luxury cars).
Rates for secured car loans start at 5.90% p.a. (6.33% p.a. comparison rate^) for new cars, and are from 6.03 % p.a. (6.46% p.a. comparison rate^) for used cars. The interest rate you are offered will be determined by your individual situation, which includes the age of the asset you use to secure the loan.
Unsecured car loans
In the market for something older, a fixer upper, or a vehicle you don't plan on comprehensively insuring? Unsecured car loans offer borrowers the greatest flexibility when choosing a car, with no restrictions on vehicle type, age or condition.
Rates for unsecured car loans start at 6.55% p.a. (6.55% p.a. comparison rate*), with no monthly fees or penalties for paying your loan off early.
Features
- Unsecured rates from 6.55% p.a. (6.55% p.a. comparison rate*), for an excellent credit history
- Add a vehicle you own as security to access a lower rate, a higher lending limit, or both
- Car loans of up to $80,000 to buy your dream car
- No hidden costs like monthly fees or early repayment fees
- One upfront fee that we add to your loan, so you’re not out of pocket
FAQ
For a secured loan, yes. A vehicle to be used as security must be no more than 20 years old at the end of your loan. In addition to that, certain high performance models are restricted, and restrictions and minimum age requirements apply to some luxury brands.
If you choose an unsecured loan, there are no restrictions at all on the type of car you may purchase with your loan.
When you apply for a loan with MoneyPlace the first step is to get a rate estimate, which takes just 2 minutes to complete and gives you an indicative interest rate, repayment amount and establishment fee.
This can help you understand how much you might be able to borrow for your car, and is completely obligation-free. Rate estimates are valid for 30 days.
Unsecured loans allow you to buy any car, no matter the age or condition, and they also come with less restrictions on what you could do with your vehicle. They can be a good option for someone who plans on modifying their vehicle, or only taking out third party insurance.
Secured loans tend to represent less risk to lenders, and so typically have more favourable aspects for borrowers. At MoneyPlace, if you take out a secured loan, you may be able to access a higher borrowing limit, a lower interest rate, or both.
This is a routine situation and nothing to be worried about. If you submit an application for a secured loan but are unable to provide the collateral to secure your loan — for example because the value of your vehicle is insufficient, or you changed your mind and chose a different car — we are able to remove the security, and proceed with your application for an unsecured loan.
Next steps
Grab a seat and get your personalised rate estimate online in just two minutes. We'll need to know some basic information about the car you want to use to secure your loan.
After you have submitted your full application, we'll need to verify some details of the vehicle you are using as collateral. This is done entirely remotely, so there's no need for a physical inspection.
Once your loan is approved, whether your funds are going to your seller, your finance company or your bank account, they will typically be disbursed in one business day.
CAR LOANS
Estimate your repayments
We’ve put together this loan repayment calculator to help you to estimate
what your car loan repayments could be.
Loan amount
Do you need to finance any additional items such as insurance, registration or detailing?
How is your credit history?
* This comparison rate is based on an unsecured $30,000 personal loan for a five year term.
^ This comparison rate is based on a secured $30,000 personal loan for a five year term.
** These comparison rates apply only to the examples given.
WARNING: Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
#Savings are based on the amount of credit card debt consolidated by MoneyPlace customers during the 12 months prior to May 2023, using the average interest saved over a 5-year loan term and an average credit card annual interest rate of 19.99%. Individual circumstances will vary.