At Rate Detective we have a number of car loan providers on our panel that we can compare to find you the most competitive car loan.
Secured Car Loan
Most of the car loans that are taken out are done so with the car that is being purchased as security. This significantly reduces the rate. Secured car loans can be obtained with rates from 7% to 9% depending on a number of variables including your age, how much you are looking to borrow, vehicle age and your credit rating.
If you’re looking for an unsecured car loan, those options are still available, however, the interest rates are significantly higher generally in the 10 per cent region or above.
New or Used Car Loans
Car loans are available for new and used cars. In most cases, a car is classified as new if it is less than 2 years old. If the car you are looking to borrow for is more than 7 years old you will need to apply for an unsecured loan.
Loan amounts are dependent on income and the value of the vehicle. If you qualify you may apply for a loan amount up to $100,000 if you are more than 23 years old. If you are less than 23 years old, car loan amounts of up to $35,000 are possible.
Other types of vehicle finance
At Rate Detective we do a number of other types of vehicle asset finance including truck loans, van loans and boat loans. If you are looking for a long for one of those products make an inquiry on this page and we will find you the most competitive rate from our panel of providers.
What’s the next step?
In order for us to find the most competitive car loan for you fill in your details on the form provided on this page and one of our lenders will be in contact to ascertain your needs and find you the most competitive product.