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So you’re thinking of finally rewarding yourself with your dream ride. Or your rust bucket of a car has disintegrated and it’s time for an unscheduled upgrade.
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Car finance from GoRapid is the easy way to get finance matched to your specific needs and budget. Get your car loan application started today. We offer:
Car finance is a type of loan that allows you to borrow money specifically to purchase a car, motorbike, caravan or other vehicle. Instead of paying the full price upfront, finance enables you to spread the cost over a set period, typically through regular monthly payments. When financing, you can drive away with a new or used car while managing payments within your budget, making it a practical choice for many buyers.
At Rapid Finance, we offer a range of car loan options. Whether you’re self-employed, have a bad credit history, or rely on certain Centrelink benefits, our team is experienced in finding vehicle finance solutions that could work for you. With access to a large panel of specialist lenders, we could help you get finance for a new or used vehicle, even if traditional lenders have turned you down.
Our car loans are available up to $200,000 with flexible terms from 2 to 7 years, designed to suit your budget and lifestyle. Start with a simple application and receive a decision within 24 to 48 hours. Plus, our experts are here to guide you through every step, ensuring a smooth process and a loan option that fits your individual circumstances.
Our expert consultants are here to help you choose the best secured car loan or leasing option for your needs.
Let us do the work, while you enjoy the ride.
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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.
So you’re thinking of finally rewarding yourself with your dream ride. Or your rust bucket of a car has disintegrated and it’s time for an unscheduled upgrade.
Read moreUsing our car loan calculator you can adjust settings to find your ideal finance solution.
Read moreDepending on your circumstances, there are different requirements when you apply for a car loan.
Read moreYes, that is possible. It is very common, to get a car loan with no deposit - when you need a new or used vehicle fast, and it is impractical to wait and save up a substantial deposit for the vehicle.
In many ways, yes. It will depend on the type of Centrelink benefits you receive and the amount you wish to borrow for your next car.
We work with a group of special lenders. Some of them accept applications and consider Centrelink benefits as income. This is true even if you have had credit problems before. If your benefit is Youth Allowance or Newstart Allowance, then getting approved will be more of a challenge than other Centrelink benefits.
Visit our Centrelink car loans page to find more details on which benefits we accept.
Secured car loans and unsecured car loans differ primarily in terms of collateral. With secured car finance, the vehicle you're purchasing acts as collateral for the loan. If you do not meet your repayment obligations, the lender can take back the vehicle. This is to recover the money you owe.
On the other hand, unsecured car loans do not require any collateral. As a result, they may have higher interest rates. This is because the lender faces more risk. They cannot seize an asset if you default on the loan.
Secured car loans typically offer several advantages over unsecured loans:
Lower Interest Rates: The lender has the vehicle as collateral. This means they may offer a lower interest rate compared to unsecured loans.
Higher Borrowing Amounts: With the vehicle acting as security, lenders might be more willing to offer larger loan amounts.
Flexible Repayment Terms: Secured car loans usually offer flexible repayment options. This lets borrowers pick a term that suits their budget.
Easier Approval: People with less-than-perfect credit may find it easier to get a secured loan. This is because the risk to the lender is lower than with an unsecured loan.
In Australia, car loans usually secure the loan with the vehicle you buy. Unsecured car loans are less common.
Generally, yes. Lenders tend to approve secured loans more easily, especially for individuals with a bad credit history.
The reason being, in the case of a secured car loan, the lender has the vehicle as collateral. This lowers their risk, making it more likely they will approve the loan. This is true even if the borrower has had past financial problems.
It's important to remember that other factors will also affect the approval process. These include income, job status, repayment affordability and overall financial health.
Applying for car loans are generally easy with Rapid Finance; you can apply online or over the phone. Our application process can take just a few minutes to complete. And you don't need to dig out reams of paperwork to get started. All we need are the details of your desired car loan, along with some personal details, such as your driver's license and basic employment information in most cases.
If you have any questions about our process, you can contact our team on 1300 467 274. Alternately, you can complete a Free Finance Assessment at the top of this page. Also see how it works to learn more.
The amount of your car loan will depend on your situation. This includes how much you can afford, which can be up to $200,000 in some cases. Everything from your income, overall profile, to the type of car can influence the loan amount you can access.
You can obtain 100% finance for your loan – that is, you pay no deposit up front. Speak to a Rapid Finance specialist for more information about no deposit car loans.
We won't find a car loan for you right away. We will do our best to help you.
First, we need to look at your financial situation. However, in some cases, we can get you approved for finance on the same day you apply. (In some cases, within the hour)
Each application will vary, but in most cases we can find finance for a secured car loan in one or two days. Complicated financial situations can extend the process of finding finance and getting approval.
Approvals will also take longer if our team needs to spend time collecting revised documentation. Make sure that all the information you supply is complete and correct from the get-go. This way, we can reduce annoying delays or roadblocks – and you'll get your new car sooner.
A comparison rate, gives an effective rate, including the base interest rate and all the fees. It is really the interest rate all customers should focus on.
A Rapid Finance specialist can do the shopping for you, without the need to directly apply to financiers. This means you get a realistic comparison interest rate without the risk of damaging your credit history. Every application to a lender affects your credit file. It can also lower your credit score.
We have options for customers who want to access the convenience and tax benefits of salary packaging their car finance. Salary packaging involves your employer automatically taking your car loan repayments out of your salary.
A novated lease is an excellent choice for employees looking to get additional savings on a new car. The running costs of the vehicle can be included in the lease agreement. This includes servicing, insurance, and fuel.
Yes, our car finance is available for used cars as well. The amount of the car loan may depend on several factors. These include the car's make, model, and condition. The applicant's overall profile also plays a role.
The advantage of Rapid Finance is that we can offer fast finance without the high cost of convenience. We compare a range of products to see which ones match your needs. We organise the information needed to get your application approved quickly.
To begin your Rapid Finance application, you'll need personal details and a rough idea of your desired loan amount. Once a Rapid Finance specialist contacts you, they will tell you what documents you need. This may include proof of employment, income, and bank statements.
In some cases, like starting a new job or working for yourself, it can be hard to show proof of income. In these cases, we may be able to find alternative ways to provide proof of income. You can sometimes get a loan without income documents if you have a strong credit history. This depends on your situation. This is where our 20+ years of experience comes in!
Yes, self-employed car loans are available with us. We might be able to show your income and ability to make payments. This can be done with different documents or even no documents, based on your situation.
If your vehicle is used for business, then consider applying for a business car loan. There are a number of options to consider that could potentially reduce your tax liability or interest rate. A tailored business loan can also be made to match repayments with cash flow or seasonality.
Have more questions about our car loans? Call the team on 1300 467 274 and we'll be happy to help.