Car Loans Made Simple

Our pathway to loan settlement begins with a simple five-minute online application that allows us to identify the lender best suited to your needs.

From there, we handle all the paperwork while you choose your car. Once your documents are signed, we arrange for the funds to be transferred promptly to the seller so you can move ahead with confidence and get on the road sooner.

The timing depends on the information you provide. If you supply all the details we need, including your current driver’s licence and your employment and financial information, and you meet the eligibility criteria, you may receive a pre-approval within an hour.

A pre-approval shows you how much you can borrow before signing a loan contract, helping you save both time and money. It gives you a clear budget so you only consider cars within your price range, and it boosts your negotiating power with dealers or private sellers by allowing you to make firm, finance-ready offers.

Pre-approval can also help you avoid dealer-arranged finance, which often comes with terms that benefit the dealer more than the buyer. At National Loans, our specialists work for you, not lenders or dealerships.

A car loan is designed specifically for purchasing a vehicle, while a personal loan can be used for many different purposes, such as travel, weddings or home renovations. Because a car loan is secured against the vehicle, it typically comes with a lower interest rate than a personal loan, making it a more cost-effective way to finance your car.

Besides the purchase price, you’ll need to factor in upfront costs such as stamp duty, registration, and insurance. Some dealers bundle stamp duty and registration into the advertised price (“including on-road costs”), while others list a lower price “plus on-road costs.” Always check these fees so you apply for the right loan amount.

Registration and insurance are ongoing expenses, paid either annually or in instalments. Your car loan interest is also an ongoing cost that decreases as you repay the loan. Fuel, tolls, servicing, and maintenance will add to your regular running costs.

Applying for a car loan with National Loans is easy. You can do it online in less than five minutes if you have some basic information handy to confirm your identity and your current employment and financial situation. Or, if you prefer, you can simply give us a call on 1300 358 358, and one of our car loan specialists will be happy to answer any questions you have or help you with your online application.

You don’t even need to have chosen the car you want before you apply (but it’s fine if you have). If you’re just starting to look for a new car, we can arrange a loan pre-approval if you’re eligible, so that you know your price range.

You can compare car loans on a range of different criteria.

Interest rates and lender fees: When you compare interest rates, look for the comparison rate. This is the cost of interest plus any lender fees or charges. Interest rates can also be fixed or variable. Fixed rates stay the same for the term of your loan. They give you repayment certainty. Variable rates can move up or down based on changes in market interest rates. If they go up, so will your regular repayments. If they go down, so will your repayments.

Secured versus unsecured: Secured car loans have lower interest rates than unsecured loans. But your car can be repossessed by your lender on a secured loan if you don’t make your repayments. The lender’s security is registered on the Personal Property Securities Register until you have fully paid off your loan.

Flexibility: Some car loans include optional features, such as the ability to make extra repayments or a redraw facility. A redraw facility allows you to redraw any extra payments you make if you need the money later.