Get a car loan that's right for you
What happens after you apply? Find out in this quick video.
At Rapid Finance, we've been helping Australians find car loans for over 15 years, and we could help you too. We have access to hundreds of finance options and we can customise a loan solution that matches your budget, needs, and situation. Our team of automotive finance specialists provide prompt and expert service. We'll help you secure the right finance, fast.
|Loan Type||Personal||Business||Loan Term||Interest Rate||*Comparison Rate|
|Secured Car Loans||Yes||No||2-7 Years||From 4.60%*||6.55%||Learn More|
|Chattel Mortgage||No||Yes||2-7 Years||From 4.10%*||6.06%||Learn More|
|Commercial Hire Purchase||No||Yes||2-7 Years||From 4.10%*||6.06%||Learn More|
|Used Car Loans||Yes||Yes||2-7 Years||From 5.80%*||7.72%||Learn More|
|Car Refinancing||Yes||Yes||1-7 Years||From 5.80%*||7.72%||Learn More|
A car loan is a finance product which provides individuals and businesses with finance for motor vehicles. The car purchased is usually security on the loan. Interest rates are either fixed or variable.
What happens after you apply? Find out in this quick video.
Not a numbers person? That’s okay, we’re here to help! Use our online car loan calculator to find out how much you can afford and what your repayments will be. By adjusting the loan options, you’ll quickly get an understanding of what kind of loan is right for you.
Why not try it out now?
Have you outgrown your car loan? Then you’re in luck! It’s possible to transfer your current car loan to a different lender to reduce the interest rate or take advantage of flexible loan options not currently available to you.
At Rapid Finance, we’re experts at pairing our customers with better deals through refinancing. Whatever your reasons for needing car refinance, we can help.
Is your old car loan still the right option for you?
We are not just experts at car finance – we’re experts at finding great deals. If you’re on the hunt for a new set of wheels, then allow us to pass on our car buying tips. It may just save you a big headache in the future.
Make sure that you drive away with a lasting smile and check out our car buying guide and tips.
Got your eye on a great used vehicle? Searching for the right loan? On a budget? Call us!
A Rapid Finance loan specialist can:
We can help you to seek out a better deal on used car finance. It's what we do!
Life is full of bumps and potholes, but you’ll rest easy knowing that your car is protected with a great insurance solution. We can find the right level of cover to match your needs, whether that is basic, customised or comprehensive.
Find peace of mind by selecting from our services below.
Please note: This is an estimate provided for illustrative purposes only, and is based on the accuracy of information provided. It does not constitute a quote. Additional fees and charges may apply dependent on your individual circumstances. Fees such as early repayment costs and establishment fees are not accounted for in the examples of weekly repayments. Interest rates may be subject to change throughout the term of the loan.
Yes. In many cases, customers can get a car finance on the same day they apply. We understand that good deals often don't stick around for long, especially when it comes to cars. That's why we always strive to provide a speedy and streamlined service.
While we're often fast, we don't cut corners. We always compare a range of financial products to seek out a solution that matches your situation. With Rapid Finance, you can be assured of an efficient and high quality service, every time.
While car loans come in a variety of shapes and sizes, broadly speaking, a car loan is when a customer (client) enters into an agreement with a lender (financial institution) to borrow money for an automobile purchase. The customer then repays the lender the amount owed, along with interest, over a length of time (loan term).
Exceptions include options such as Novated Leases, where a customer's employer makes repayments on the employee's behalf. Additionally, the interest rate to be paid, loan term and type of vehicle available can all differ depending on your situation, your chosen lender and your chosen loan type.
Secured car loans allow the lender to hold an asset or collateral as security against the loan. In most cases this security is the vehicle purchased. So, if the customer defaults on the loan, the lender is able to sell the car in order to recoup some or all of the funds owed.
Because secured car loans are generally considered less risky, they tend to attract lower interest rates when compared to unsecured car loans. They are also often available with higher borrowing limits and longer repayment periods.
Under an unsecured car loan, the customer is not required to put forward collateral. This means the car purchased will not be held as security against the loan. As a result of this, should the customer default on the loan, it is generally more difficult for the lender to recoup funds owed.
Because unsecured car loans are often seen as more risky, they do regularly attract higher interest rates when compared to a secured car loan. Additionally, you may not be able to borrow as much as you would under a comparable secured car loan.
In most cases, yes. At Rapid Finance, our car loans can be used with a huge variety of cars. This includes family cars, work vehicles, classic cars, specialist vehicles and more.
Exactly how much you are eligible to borrow, however, will depend on your individual circumstances. Things such as income, employment situation and credit history can all affect the amount you have access to. So, it's always worth considering these factors when deciding upon a car.
No. It is not possible to get car finance without the necessary credit check. Under the National Consumer Credit Protection Act, credit providers are required to ensure that an application for finance is suitable for the applicant before approval can take place. Review of financial information, including a credit check, is part of this process.
In some cases, where the car is used for business purposes and where Australian Tax Office (ATO) requirements are met, tax deductions may be available. For example, if you are using your vehicle during the course of your work duties, you could be eligible to claim vehicle depreciation (up to the depreciation limit).
The tax implications of car loans do differ on a case by case basis. Everything from the loan type chosen to your form of employment can impact potential benefits. Consult a tax professional for specific advice about tax implications.
Yes. While it may be more difficult for you to obtain a car loan while on Centrelink, in many cases, it is not impossible. You could have fewer options in terms of loan types available to you, but there are lenders willing to provide finance for people on Centrelink.
If you're on Centrelink benefits such as Family Tax or Parenting Payments, Disability Pension/DSP or an aged pension, call us. Your dedicated loan specialist will assess your situation, review a range of options and seek out a loan solution that matches your circumstances.
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