Compare car loan rates from 5.67% across 50+ Australian lenders. Borrow $5,000 to $200,000 for new or used vehicles. Same-day decisions available. Car loans from Emu Money let you borrow $5,000 to $200,000 at rates starting from 5.67%, with terms from 1 to 7 years. Compare secured and unsecured options from 50+ Australian lenders in one application, covering new, used, dealer, and private sale vehicles. Same-day decisions are available for straightforward applications. Last updated May 2026 Why choose Emu Money for car loans? One application, 50+ lenders, rates from 5.67% for new and used vehicles. Rates from 5.67% Secured car loan rates start from 5.67% across our lender panel. Your rate depends on the car, your credit profile, and your loan term. Borrow $5,000 to $200,000 Finance new or used cars, utes, vans, and motorcycles. Dealer purchases and private sales both covered. Terms from 1 to 7 years Choose a loan term that matches your budget. Shorter terms cost less in interest; longer terms lower your repayments. Secured and unsecured options Secured loans use the vehicle as collateral for lower rates. Unsecured loans leave the car in your name from day one. Same-day decisions Straightforward applications can be assessed and approved within the same business day. New, used, dealer, or private sale Finance from a dealership, private seller, auction, or online marketplace. No restrictions on where you buy. How to get a car loan Four steps from application to driving away. Many applications are decided the same day. Tell us about the car you want Share the vehicle type, purchase price, and how much you need to borrow. The online application takes a few minutes. Get matched with lenders We compare your profile against 50+ lenders to find car loan options that fit your situation. You see rates, amounts, and terms side by side. Provide your documents Upload your ID, proof of income, and bank statements. Self-employed applicants can use ABN and BAS statements. Get approved and drive away Once approved, funds are sent directly to the seller or dealer. Many non-bank lenders settle within 24-48 hours of approval. Backed by over 50+ lenders Giving you the best chance of being approved. Ready to compare car loans? One application, 50+ lenders. See your matched options in minutes with no impact on your credit score. How car loans work in Australia A car loan gives you a lump sum to buy a vehicle, which you repay in fixed instalments over 1 to 7 years. Rates start from 5.67% for secured finance through Emu Money's panel of 50+ lenders, with loan amounts from $5,000 to $200,000. Most car loans in Australia are secured , meaning the lender registers the vehicle as collateral on the Personal Property Securities Register (PPSR). This keeps rates lower because the lender can recover the car if you default. You still own and drive the vehicle, but you can't sell it until the loan is paid off or the lender releases the security. Unsecured car loans don't use the vehicle as security, so you're free to sell the car at any time. The trade-off is higher rates, typically 2-5% above secured equivalents. Repayments are calculated at the start of the loan and stay the same each month (for fixed-rate loans) or adjust periodically (for variable-rate loans). Most lenders allow extra repayments and early payout without penalty, but check your contract. For a full breakdown of the differences, see Secured vs unsecured car loans: What's the difference? . Car loan rates in 2026 Secured car loan rates through Emu Money's lender panel start from 5.67%, with most borrowers landing between 6.5% and 9.5% depending on their credit profile, the vehicle's age, and their loan term. New cars attract the sharpest rates because they hold more value as security. A borrower with a clean credit history financing a new vehicle over 5 years can expect rates between 5.67% and 7.5%. Used cars under 5 years old sit slightly higher, typically 6.5% to 8.5%. Once a vehicle passes 7-10 years old, rates climb further and some lenders won't finance it at all. Most lenders require the car to be no older than 12-15 years at the end of the loan term. Unsecured rates start from around 8% and can reach 15%+ for applicants with credit impairments. The rate gap between secured and unsecured narrows on smaller loan amounts (under $10,000) where the total interest difference may not justify the PPSR registration. Your credit history is the single biggest factor in the rate you're offered. A clean file with no missed payments or defaults in the past 12 months puts you in the strongest position. Car loan rates by vehicle type and credit profile New vs used car loans Used car loans are more common than new in Australia. The average used car loan sits at $28,658 compared to $46,055 for new vehicles (ABS, Lending Indicators). Both are available through Emu Money's lender panel from $5,000 to $200,000. New car loans offer the lowest rates (from 5.67%), longer available terms, and the widest choice of lenders. Depreciation is the downside: a new car typically loses around 20% of its value in the first year. On a 5-year loan with no deposit, you may be in negative equity for the first 18-24 months. Used car loans mean a lower purchase price and less depreciation hit, but rates are higher and lenders impose age limits. Most require the vehicle to be under 12-15 years old at the end of the loan term. A 10-year-old car on a 5-year loan may not qualify with some lenders. The sweet spot for value is a car that's 1-3 years old. The steepest depreciation has passed, rates are still competitive, and the vehicle has years of useful life ahead. For more on how deposits affect the equation, see No deposit car finance: How it works . Secured vs unsecured car loans On a $25,000 loan over five years, the difference between a secured rate of 7.5% and an unsecured rate of 11% is roughly $3,100 in total interest. Secured loans are cheaper because the lender holds security over the vehicle. With a secured car loan , the lender registers a security interest on the PPSR against the vehicle's VIN. You own and drive the car, but you can't sell it until the loan is paid or the security is released. If you default, the lender can repossess the vehicle after the required notice period. With an unsecured car loan , the vehicle is yours outright from day one. You can sell it, trade it, or modify it without lender permission. The lender has no claim on the car if you default, but they can still pursue the debt through other means. For loans under $10,000, the total interest difference shrinks to $800-$1,500. At that level, the freedom of unsecured finance may be worth the extra cost, particularly if you're buying an older vehicle that may not qualify for secured finance. For the full comparison with worked examples, see Secured vs unsecured car loans: What's the difference? . Secured vs unsecured car loan comparison How much can you borrow for a car? Most borrowers can finance $5,000 to $200,000 for a car through Emu Money's lender panel. Your borrowing capacity depends on your income, existing debts, living expenses, and the vehicle you're buying. A useful starting point: keep your total car loan repayment under 15% of your gross monthly income. On a $60,000 salary, that typically means a car loan of $20,000 to $30,000 over five years. Lenders use the Household Expenditure Measure (HEM) or your declared expenses (whichever is higher) to calculate how much you can afford to repay. Credit card limits, BNPL accounts, and existing loans all reduce your capacity, even if you're not using them. A $10,000 credit card limit can reduce your car loan capacity by $10,000-$15,000, regardless of your actual balance. A deposit improves your position. Even $2,000-$5,000 reduces the amount financed, can unlock a lower rate tier, and shows the lender you can save. That said, no deposit car loans are available for borrowers with strong credit profiles. For detailed borrowing estimates by salary, see How much can I borrow for a car loan? . Car loans with bad credit Yes, you can get a car loan with bad credit in Australia. Specialist non-bank lenders on Emu Money's panel assess your current situation, not just your credit score. Expect higher rates of 10-25% depending on the severity and age of your credit issues. The cost difference is real. On a $25,000 secured loan over five years, a borrower with excellent credit might pay $5,000 in total interest. A borrower with recent defaults could pay $10,000-$16,000 in total interest on the same loan amount. What matters most to specialist lenders: the age and type of your credit issues (a $300 telco default reads differently to a $15,000 personal loan default), how many recent credit enquiries you have, and whether your current income can comfortably cover the repayments. Time is your strongest lever. Most specialist lenders use internal tiers: 0-12 months since default is the hardest band, 12-24 months opens more options, and beyond 24 months rates drop meaningfully. If you can wait, it may save you thousands. For strategies on strengthening your application, see Car loans with bad credit in Australia . Car loan vs personal loan

A secured car loan is almost always cheaper than an unsecured personal loan for buying a vehicle. On a $25,000 purchase over five years, the interest difference can be $3,000 or more in favour of the car loan. The reason is simple: a car loan uses the vehicle as security, which lowers the lender's risk and your rate. A personal loan is unsecured, so the rate is higher to compensate. A personal loan makes more sense when you're buying an older vehicle that doesn't qualify for secured finance (typically over 10-12 years old), buying privately and you want the flexibility to own the car outright from day one, or borrowing a smaller amount where the total interest difference is minimal. Keep in mind that secured car loans typically offer higher borrowing limits (up to $200,000) compared to unsecured personal loans (usually capping at $50,000-$75,000). If you're financing a newer vehicle over $30,000, a secured car loan is the clear choice. For a detailed cost comparison with worked examples, see Car loan vs personal loan: Which is better? . How to get the best car loan rate Your rate is determined by four factors you can influence: your credit profile, the vehicle's age, your loan-to-value ratio (LVR), and whether you use a broker or go direct. Clean up your credit file before applying. Check your report for free and dispute any errors. Clear small outstanding debts. A single unpaid $200 default can shift your rate tier. Put down a deposit. At 80% LVR or below, most lenders offer their best rate tier. Even $2,000-$5,000 can make a difference on a $20,000-$30,000 purchase. Choose a newer vehicle. Cars under 3 years old attract the sharpest rates. Once a vehicle passes 7 years, rates increase noticeably and options narrow. Compare through a broker, not a dealer. On a $20,000 loan over five years, the difference between a dealer rate of 11% and a broker rate of 7.5% is roughly $3,800 in total interest. Dealers add margin to the rate, while brokers like Emu Money compare across 50+ lenders to find the lowest available rate for your profile. Apply once, not five times. Multiple credit enquiries in a short period can lower your score and signal desperation to lenders. One application through a broker searches multiple lenders with a single credit pull. Other ways to finance a vehicle Car loans suit most buyers. Depending on your situation, these alternatives may also be worth considering. Estimate your car loan repayments See what your repayments would look like before you apply. Enter a loan amount, term, and rate to get an instant estimate with a full amortisation schedule. Comparison rate included Full amortisation schedule Instant results, no sign-up Adjustable rates and terms Car Loan Guides & Resources In-depth guides to help you find the right car loan for your situation. Secured vs Unsecured Car Loans: What's the Difference? How security affects your rate, flexibility, and risk. Car Loan vs Personal Loan: Which Is Better for Buying a Car? Side-by-side cost comparison with worked examples. Car Loan vs Lease: Which Is Better in Australia? Ownership, tax, and total cost compared for 2026. How Much Can I Borrow for a Car Loan? Borrowing capacity by salary with the 15% rule. Car Loan Requirements: What You Need to Apply Eligibility, documents, and vehicle age limits. First Car Loan: A Beginner's Guide What to expect when you've never borrowed before. Refinancing a Car Loan: When It Makes Sense When switching lenders saves you money and when it doesn't. No Deposit Car Finance: How It Works What skipping a deposit actually costs and when it makes sense. Car Loans with Bad Credit in Australia How specialist lenders assess impaired credit applications. Guarantor Car Loans: How They Work in Australia Using a guarantor to strengthen your application. Car Loans for Pensioners in Australia Options and eligibility for pension-income borrowers. Car Loans on Centrelink: What Are Your Options? NILS, specialist lenders, and Centrepay explained. Sophie and Daniel How Sophie and Daniel saved $4,200 on their family car Challenge: Dealer finance at 12.9% on a $35,000 used SUV Solution: Secured fixed-rate car loan at 7.2% over 5 years through Emu Money Sophie and Daniel needed a bigger car after their second child arrived. They found a 2-year-old SUV at a Sydney dealership for $35,000 and were offered dealer finance at 12.9% over five years, putting their monthly repayments at $793. Before signing, Sophie compared options through Emu Money. Within a day, they were matched with a non-bank lender offering a secured fixed rate of 7.2% over five years. Their repayments dropped to $697 per month. Over the life of the loan, that rate difference saved them $4,200 in interest and $1,800 in fees the dealer would have charged. The lender financed 90% of the purchase price, and Daniel's parents helped with the remaining $3,500 deposit. Settlement took two business days. From Our Customers See what our customers have to say about us. Verified Review The service and delivery was excellent Extremely understanding and caring for that matter which i find is very rare within a lot of this ground of work 10/10 recommend to go through Evette when financing something , there will be zero disappointment or let down on your end Verified Review I've worked with Brad for quite some time, and after 25+ years in business across Australia, I can say with confidence: professionals like him are rare, in his case, unique in the industry. Brad understands business, printers, people, and lenders better than anyone I've worked with. The advice he's given, the care he's shown, and the way he's gone above and beyond to make sure my customers get the best deal possible has made a real impact. Some of my customers haven't just grown, they have exceeded expectations. For me, that's the proof in the pudding. Verified Review ⭐️⭐️⭐️⭐️⭐️ Evette is amazing. As a sole trader I struggled to get finance for a car, but she worked tirelessly to make it happen and got me a great loan. Even when delays came up with the sellers bank, she kept on top of everything until it was resolved. I am so grateful and would 100% recommend her to anyone! Verified Review I would highly recommend Emu Money for loan purposes. Special thanks to Eujin who helped me to get the car loan within 24 hrs with no hassles at all. There services are so good. Verified Review Emu Money does a really good job when it comes to their services. It was pretty easy and smooth, less stressful, quick, Cristal clear, very friendly, to the point...etc I would highly recommend them for anyone My agent was Eujin who made my dream come true with what I wanted achieved. Thanks heaps and all the very best. Regards Lankesh Verified Review Peter was very quick, responsive and easy to deal with. Great experience, and we're picking up our new car tomorrow! Frequently asked questions Common questions about car loans in Australia. These helpful FAQs will help you find the answers you need. If you can't find what you're looking for, you can request a callback below. Last updated May 2026 This page is general information only and is not financial advice. Terms, rates, and eligibility criteria are indicative and subject to lender assessment. Not what you're looking for? We can also help you with: