Car Finance for a
New or Used Car

We guide you every step of the way so that you can get your car sooner.

  • Personal loan advice
  • 1-1 broker time to answer any questions
  • Super fast loan approval turnaround


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    Buying a car is an exciting time, but it's important to evaluate your options.

    A car loan is a specific type of personal loan that you can use to buy a new or used motor vehicle when your savings won’t cover the total cost upfront.

    When you take out a car loan, you will need to make regular repayments over a fixed term towards the lump sum you borrowed (referred to as principal), as well as interest accrued. The interest rate will take effect from the time you take out the loan although there are more to car loans than interest rates.

    Prime Loans can help you:

    1. Check how much you can borrow
    2. Guide you through your options
    3. Get the loan in less than 2 weeks

    Car finance options for you

    Consumer Loans

    Chattel Mortgage

    Commercial Hire Purchase

    Novated Lease

    Get in touch to learn which loan is suitable to your needs. 

    Our 5 Star Google Review

    It's simple, our customers are saying great things about us because we deliver a better service, transparent communication at each stage of the process and get the right loan for your situation.

    See all our reviews >

    Prime Loans work with the largest panel of lenders in the country

    We compare your current loan with hundreds of others to see if we can get you a better deal.

    Frequently Asked Questions

    Am I eligible for a car loan?

    You are eligible for a car loan if you:

    • are 18 years or older
    • are an Australian resident
    • have a regular income be
    • looking to borrow more than $5,000
    Can I choose between a variable rate loan for a car loan?

    Car loans are all structured as fixed rate loans.

    Is insurance and warranty included in the car loan amount?

    That depends on the lender. Some lenders will allow you to include these in the loan amount.

    How does pre-approval work for car loans?

    Pre-approval means your loan is approved before you find the car you'd like to buy.

    This means you will have a budget to work towards and can have a peace of mind knowing what you can borrow and afford.  

    Once you find the car you’d like to purchase, Prime Loans will arrange for the funds to be drawn and payment to be made.

    What documentation do I need to apply for a loan?

    PAYG Applicants will need:

    • a copy of your drivers licence (front and back)
    • your last 2 pay slips
    • a recent rates notice (if you own property)
    • a copy of the contract for sale for the car

    Self Employed applicants will need:

    • a copy of your drivers licence (front and back)
    • a recent rates notice (if you own property)

    For commercial applicants will need:

    • a copy of your drivers licence (front and back)
    • a recent rates notice (if you own property)
    • recent financials (for the business and individual)
    What are the benefits of going through a broker for my car?

    Your broker has access to a variety of different lenders. As such, they are not only able to find you the best deal, but a loan solution that meets your circumstances.

    A broker works for you, not a car dealership or a particular lender leaving you with someone who is making sure you get the best loan unlike dealers who generally focus on clearing out their stock. 

    Can I get a car loan if I am self-employed?

    Yes, there are loans specific tailored to the self-employed.

    You may also be able to claim part of the car’s costs, including loan interest, as a tax deduction.

    For purchases less than $20,000, you can immediately claim the full value back as a tax deduction within the same year. 

    For purchases over $20,000, you can still claim a deduction over time using the general small business pool.

    Can I get a car loan if I have a poor credit history?

    Yes, there are lenders who can assist you if you have a poor credit history.

    Speak to Prime Loans for more information. 

    How long will my car loan take to be approved?

    You could have your finance approved in as little as 2 days.

    Sometimes, depending on the circumstances of the transaction, the loan approval process can take longer.

    Do I need a deposit for a car loan

    You do not need a deposit to take out a car loan, although it may increase your chances of getting the loan and reduce your repayments. 

    Talk to Prime Loans Today

    We will help you search, choose and settle your loan. 

    Credit Representative 509436 is authorised under Australian Credit Licence 389328.

    Your full financial needs and requirements need to be assessed prior to any offer or acceptance of a loan product.

    Lenders terms, conditions, fees and charges may apply.