Car Loans

Our team of Gold Coast and Melbourne based finance brokers will compare over 50 lenders to ensure you get a car loan tailored to your individual needs and circumstances. 

Ready To Apply For A Car Loan?

 Drive Your Dream Car with Confidence

At Lend It Finance Group, we understand that finding the perfect car loan is can be a long and hard road. That's why we're here to help you every step of the way. Whether you are looking for a new or used car our lending specialists have you covered! You can apply Online or call us directly to ensure you get the best car loan that suits your needs and budget today.

Access to 50+ Lenders

With access to over 50 reputable lenders across Australia, we can access a wide range of options for you when searching for your dream car. Whether you're buying a new or used car from a private seller or dealer, Our lending specialists will carefully assess your budget, needs, and circumstances to ensure you receive the most suitable finance options available.

Expert Guidance for Informed Decisions

Navigating the world of car loans can be overwhelming, but you don't have to do it alone. Our experienced team has over a decade of experience and is dedicated to providing you with expert guidance throughout the entire process. We will explain the intricacies of car financing, help you compare different lenders and rates, and ensure you have all the information needed to make an informed decision. Rest assured, we have your best interests at heart.

Tailored Solutions for Your Unique Circumstances

We understand that each individual's financial situation is unique. That's why we take the time to understand your specific circumstances and tailor a car loan solution that suits you. Our team will work closely with you, considering factors such as your income, credit history, and desired repayment terms, to secure the best possible loan option. Your peace of mind is our priority. 
  • Highly competitive fixed and variable rates available from multiple lenders.

  • Flexible loan Terms from 1 to 7 years

  • Ability to make additional repayments

  • No deposit finance available depending on your circumstances

Frequently Asked Questions

What documents do I need to apply for a car loan?
When applying for a car loan you will typically require

2 Forms of identification, such as a Drivers licence and Medicare Card

Proof of income via 2 x most recent payslips or 90days bank statements

Rates Notice or Rental Agreement if you are a homeowner or renter

These are the basic document requirements for most lenders to assess your application. 
What is the difference between a car loan and a personal loan?

Car Loan

A car loan is a secured loan used for purchasing a vehicle, with the car being used as security, resulting in lower interest rates and the possibility of repossession if payments are missed. Our panel of lenders can offer car loans with loan terms ranging from 12 months to 84 months, depending on the vehicle's age, cost, and km travelled.

Personal Loans

A personal loan is unsecured, offering greater flexibility for various loan purposes, including car purchases, but an unsecured personal loan will normally have higher interest rates due to there being no asset being used as security. Personal loans normally have loan terms that vary between 12 months and 84 months.
The choice between the two depends on your individual needs and circumstances. Car loans might be cheaper over time and personal loans provide funding flexibility without requiring collateral, but this can come at the cost of higher interest rates. Credit scores significantly influence the conditions of both secured and unsecured loans. It’s essential to weigh the total loan costs and asset risk before deciding between the two. 
Can my credit score affect my car loan application?
Yes, your credit score has a significant impact on your car loan application. Here's how:

Loan Approval: When you compare car loans for a new or used car as an example, Lenders use your credit score to assess the risk of lending to you. A higher credit score can mean you're less of a risk to lend to. which can increase your chances of being approved for a car loan at a competitive interest rate based on your overall credit history.

Interest Rates: With most lenders, the interest rate you're offered is largely determined by your overall credit score and credit history. Borrowers with higher credit scores and credit history from say, an existing car loan. Typically, they qualify for loan products with lower interest rates because they're deemed by the lender to be more likely to repay the loan on time vs someone with a lower credit score and credit history.

Loan Terms: Besides interest rates, your credit score can also influence the loan term a lender may be willing to offer you, which is the length of time you have to repay the loan. A better credit score might give you access to more flexible loan terms, longer loan terms and a more competitive interest rate on those loan terms

Deposit: A lower credit score might mean you'll need to make a deposit contribution to qualify for a car loan with some lenders if you have impaired credit. This is because the lender may require more upfront deposit to offset the risk of potential missed payments.

Additional Costs: A lower credit score can potentially lead to higher upfront and ongoing fee costs over the life of the loan, not just through higher interest rates but also things like establishment fees, Risk fees and this can also be for both unsecured loans and secured loans.

Depending on your circumstances, improving your credit score before applying for a car loan can potentially lead to a car loan with better loan terms and lower costs. Speak to one of our lending specialists and have us run a credit report for you and discuss your options in detail so you don't walk into your next car loan blindfolded.
Will applying for quotes impact my credit score?
When speaking with one of our lending specialists to obtain a quote for car loan repayments, there is no impact on your credit score. Whether you are applying for a secured loan or an unsecured loan, we only ever make soft touch inquiry that will have no impact on your credit score prior to submitting your application to a lender for assessment. Now if your are applying online direct with lenders this can sometimes have an impact on your overall credit profile as the lender may do a hard credit check whilst assessing your car loan application. Speak to one of our lending specialists for your next car loan today and let us do the heavy lifting for you. 
What is the difference between a fixed rate and a variable rate car loan?
A fixed rate car loan is a type of Car loan where the interest rate remains the same throughout the life of the loan. This means that your monthly repayments are predictable and won't change. This will give you confidence in knowing exactly what you need to factor into your budget and plan for your car loan repayments. 
Advantages of a Fixed Rate Car Loan:

Fixed Monthly Payments: You'll always know exactly how much you need to pay each month, making budgeting easy and convenient when choosing your car loan term.

No Fluctuations: Even if market interest rates rise, your fixed interest rate remains the same on your loan term ensuring your weekly repayment or repayments as per your loan agreement stay the same

Financial Security: With fixed rate car loan, you have peace of mind, knowing your budget won't be impacted by rate changes and market fluctuations. This means you will not need to worry about finding extra funds or make additional repayments to keep up with your repayments if the rates rise.

What is a Variable interest Rate Car Loan?

A variable interest rate car loan is subject to fluctuations in interest rates over the loan term. These loans typically have interest rates that are linked to a benchmark rate such as the Reserve Bank's cash rate. As the benchmark rate changes or your lender's interest rate changes so do your interest charges and monthly repayments on your loan agreement While variable rate car loans offer the potential for lower initial rates, they also carry some level of uncertainty for you as you may be unsure if the rate is going to go up or down which makes budgeting a little more difficult.

Advantages of a Variable Rate Car Loan:

Potential Cost Savings: When market interest rates are low, you may enjoy lower interest charges and more affordable payments.

Flexibility: Variable rate car loans can offer flexibility in terms of making extra repayments or paying off the loan early without penalties as most of the time they are attached to an unsecured loan

Opportunity for Rate Reduction: If interest rates decrease, your monthly payments could follow suit and potentially save you money and reduce your repayments.

Choosing the Right Car Loan for You:
The decision between a fixed rate and a variable rate car loan depends on your specific loan requirements and needs. At Lend It Finance Group, our experts can guide you through the decision making process. We'll help you evaluate the pros and cons of each type of car loan when you go to buy a car and determine if a fixed or variable loan offer aligns best with your needs. 
Can I make extra repayments on my car loan?
When discussing your loan options you need to consider things such as do you want to repay your loan faster by making additional payments on your loan amount over the term. If you have extra funds available after factoring in the true cost of your weekly fortnightly or monthly repayments then go with a loan option that offers regular repayments as well as flexibility to make additional repayments over the loan term. In most cases yes! you can make your weekly repayment amount and additional repayments to pay your loan sooner depending on your financial situation and personal circumstances. 
Do you do car financing for Electric vehicles?
Yes we can do a personal loan or secured loan for electric vehicles. Electric vehicles actually get a wide range of benefits with most lenders such as interest rate discounts when you buy an electric vehicle. The interest rate discount can vary lender to lender and is both on a variable rate loan and fixed interest rate electric vehicle loan. Choosing to go electric could give you a better comparison rate with a lower monthly service fee depending on your personal financial situation and without an up front lump sum payment. So whether your looking for a variable rate loan, a cheaper comparison rate or just love electric vehicles speak to our specialists today and get your estimated repayments today on the loan funds your new electric vehicle. 
Can I buy a new or used car private sale or from a dealer?
Yes you can buy a new or used car from a car dealer or privately. With Access to over 50 lenders that all have different eligibility criteria and approval criteria getting a pre approval for you next car finance has never been easier. To get pre approved you can apply online or speak to one of our specialists over the phone regarding your own personal financial situation and get the new car you want without the hassle. whether your buying a new car or used car speak to the team today! 
What’s the difference between a secured car loan and an unsecured car loan?
A secured car loan will normally have a lower comparison rate as the finance company is using the car as security for the loan. This is a typical car loan and it gives the lender more comfort knowing that if you have multiple late payments on your loan they can repossess the vehicle as they have used it as collateral. unsecured loans or usually known as a unsecured personal loan will attract higher comparison rates in most cases as there is no security on the loan and is a higher risk for the lender if you make late payments. An unsecured personal loan can be a great option if you do not want the vehicle being used as a security and will still offer you a good interest rate whether you want weekly fortnightly or monthly repayments.