Finding the right loan product can take a long time if you search each lender yourself. When you use CarClarity to search for you, it will considerably cut down this time. At CarClarity, we’ll take your details and find you the best car loan rates Australia among our forty lenders and over a thousand products.
Many people in Australia focus more on finding the car they want, and only a portion of that time on getting the right loan. When rushing to find a car, many people will either use the finance operator selected by the dealer or get a loan from their current financial lender. These loans may be suitable, but if you don’t compare car loans, then how do you know you're getting a fair deal?
When you use CarClarity to find your car loan, we can take your details, complete a soft credit check, and then show you your top matches for the best car loan rates in Australia among our partner lenders.
The interest rate on your car loan is negotiable. If you have a good credit score, a lender may be willing to reduce their standard interest rate to secure your business. A good credit score means that you are considered a low-risk applicant, and lenders prefer to deal with people they consider low risk.
If a lender doesn’t lower their interest rate, you can negotiate better terms for the loan. Lenders will usually have a few different products available; if their standard loan is not working for you, one of their other products may be more suitable.
For example, you may prefer a balloon car loan, making smaller regular payments and a large final payment to finalise the loan. This type of loan can be an excellent idea if you want to reduce your monthly expenses and intend to sell the car at the end of the loan term.
When looking for the best car loan rates in Australia among the available options at CarClarity, you can take advantage of the streamlined process. Getting a pre-approved car loan is simple; just complete an easy online application process that matches you to lenders who can offer you options that meet your desired terms, allowing you to make better car loan comparisons.
When looking for the best car loan rates in Australia among the lenders at CarClarity, you usually have the option to choose between a fixed or variable rate. The loan you decide on can be reliant on several factors.
A variable rate car loan will have an interest rate that follows the market rate. As the market rate can change frequently, your payments may alter several times during the loan. Meanwhile, in a fixed-rate car loan, your monthly payments will not change during the loan. You can budget more effectively as your payments are the same each month. Choosing a fixed-rate car loan is ideal if you feel the market rate will rise in the future as your rate will not change.
Should I pick a fixed or a variable car loan?
Choosing between a fixed and variable rate is often up to your personal preference. Do you prefer the stability that a fixed-rate car loan offers, or would you rather gamble on market fluctuations? Our advice is to lock that rate down, as it’s much simpler to pre-empt your monthly payments and manage your finances. If you already have a variable rate car loan, it’s possible to refinance it under a fixed rate.
You may find that some lender rates are offered based on your credit score. For example, the lender will offer you a lower interest rate if you have a high credit score. On the other hand, they may offer you a higher interest rate if you have a low credit score.
Without completing a car loan comparison, it can be challenging to know if a particular lender has high-interest rates on their car loans or if your credit score affects the interest rates you’re offered. Many other factors can contribute to how car loan rates are calculated, including the total length of the loan, fixed or variable rate loan, if you’re choosing a balloon car loan, if you’re refinancing a car loan, or if the loan is secured or unsecured.
Using CarClarity to compare your details against many loans is an excellent method to ensure you see some of the best car loan rates Australia among our partner lenders. After you enter your details on our form, we’ll complete a soft credit check and show you the best car loans available from over forty different lenders. You can compare these loans, choose one that suits you, and then complete an application with that lender.
Using CarClarity will not affect your credit rating, and it can be an excellent way to see many car loans in one place. So start your search today and find the ideal loan!
CarClarity is an online financial comparison service and is owned and operated by CarClarity ACL Pty Ltd ABN 50 606 243 243 / ACN 606 243 243 and Australian Credit License 478 874.
CarClarity provides you access to our expert team who can assist in selecting suitable car loans from our panel of 40+ lenders and over 1000 financial services products. The financial products compared on this website do not necessarily compare all features that may be relevant to you and CarClarity does not compare all rates in market.
All applications are subject to the credit provider’s credit assessment and loan eligibility criteria. Terms, conditions, fees and charges apply. Information provided is factual information only, and is not intended to imply any recommendation about any financial product(s) or constitute tax advice. If you require financial or tax advice you should consult a licensed financial or tax adviser. CarClarity may receive a commission from lenders we recommend.
.svg)
