Car Loans - Compare Options From 15+ Lenders | Esteb and Co
1.23 Million New Cars Sold in Australia 2025 (FCAI)

The Dealer Wants 12%. Our Lowest Lender Is At 7.74%.

The average new car loan in Australia is now $45,800. Dealer finance typically sits at 11-13% — they make the markup, not the manufacturer. Our lowest panel rate is 7.74% (Plenti). On a $45k loan over 5 years, that gap saves you $5,800 in interest.

7
Car Loan Lenders
7.74%
Lowest Rate (Plenti)
$45.8k
Avg New Car Loan
Calculate Your Car Loan → View Market Data

🔒 No credit check at initial stage • No cost to you* | *We're paid by lenders when your loan settles

Important Information

Esteb and Co provides credit assistance services. We are licensed credit representatives (ASIC Credit Rep #574070) who help you compare loan options from our panel of lenders. We do not lend money directly. All loan approvals are made by lenders, subject to their criteria and responsible lending assessments. Our service is free to you - we receive commissions from lenders. Read our Credit Guide

★★★★★4.9/5from 50+ Google Reviews
★★★★★

"The dealer offered me 11.9%. Esteb and Co got me 6.2% from a different lender. Saved me over $4,000 on a $35K car."

K
Kasie B.
Car Loan
★★★★★

"Got pre-approved before I went to the dealer. Walked in knowing exactly what I could spend. Game changer."

A
Anonymous
Car Loan
★★★★★

"Used car, private sale — banks didn't want to know about it. They found a lender that does private sales with no issues."

A
Anonymous
Used Car Loan
📊 FCAI + ABS DATA — APRIL 2026

The Australian Car Loan Market

Real numbers from FCAI sales data and ABS lending indicators

NEW CARS SOLD 2025
1.23M
FCAI VFACTS data
AVG NEW CAR LOAN
$45.8k
Used car avg: $28.5k
LOWEST RATE
7.74%
Plenti Car Loans
DEALER FINANCE
11-13%
Typical markup range

Top 5 Selling Cars in Australia 2025

FCAI VFACTS — units sold

62,593 Ford Ranger 53,498 Toyota HiLux 51,230 Toyota RAV4 30,194 Isuzu D-Max 28,789 LandCruiser Total new car sales 2025: 1,233,000

Car Loan Rates by Lender

Real rates from our panel — April 2026

18% 14% 10% 6% 0% 7.74% Plenti 8.24% CarFin 8.24% Metro 8.74% AutoFin 8.74% Pepper 9.24% FinanceCar 16.95% Jacaranda 7 lenders compared • Indicative rates only

New Car Depreciation Curve

A $50,000 new car loses ~50% of its value in the first 3 years

$50k $40k $30k $20k $10k $50k $32k $25k (50%↓) $9.5k New Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 10

Based on average depreciation rates for new vehicles in Australia. Source: RedBook valuation data.

Don't sign at the dealership — lock in finance first

Walking into a dealership with pre-approved finance changes the dynamic completely. You're a cash buyer, not a lead. The dealer can't sell you their finance markup, and you're free to negotiate the car price separately. On a $45k car, that's typically $3,000-5,000 saved on interest plus another $1,000-2,000 negotiating room on the car itself.

Get Pre-Approved In 24 Hours →

Credit Assistance For Car Loan Type

New, used, electric, luxury—we compare them all

🚗

New Car Loans

Brand new vehicles from dealerships. Lowest rates, longest terms, manufacturer offers.

Rates from 5.99%
  • ✓ Terms up to 7 years
  • ✓ LVR up to 100% (no deposit)
  • ✓ Manufacturer finance offers
  • ✓ Balloon payment options
🔧

Used Car Loans

Pre-owned vehicles, private sales, dealer used cars. Up to 15 years old.

Flexible criteria
  • ✓ Private sale or dealer
  • ✓ Cars up to 15 years old
  • ✓ Terms up to 7 years
  • ✓ LVR up to 120% (on-roads included)
⚡

Electric Vehicle (EV) Loans

Tesla, BYD, Hyundai, MG electric vehicles. Specialist EV lenders available.

Green car loans
  • ✓ EV-specific rate discounts
  • ✓ Government incentive compatible
  • ✓ Battery warranty considerations
  • ✓ Salary sacrifice options
💎

Luxury & Prestige Cars

BMW, Mercedes, Audi, Porsche, Range Rover. $75K+ vehicles.

Prestige specialists
  • ✓ Higher loan amounts ($75K-$300K+)
  • ✓ Premium vehicle lenders
  • ✓ Balloon/residual options
  • ✓ European car specialists
🚙

Commercial Vehicle Loans

Utes, vans, trucks for business use. Chattel mortgage, lease options.

Business finance
  • ✓ Chattel mortgage structure
  • ✓ Tax-effective options
  • ✓ ABN/business required
  • ✓ Higher LVR for business
📋

Novated Lease

Salary sacrifice your car payments and running costs. Reduce your taxable income while driving a new car.

Salary packaging
  • ✓ Pre-tax salary deductions
  • ✓ GST savings on purchase price
  • ✓ Running costs included
  • ✓ New and used vehicles
Learn more about novated leasing →
🏍️

Motorcycle & Recreational

Motorcycles, caravans, boats, jet skis. Recreational vehicle finance.

Specialist lenders
  • ✓ Motorcycles (new & used)
  • ✓ Caravans & motorhomes
  • ✓ Marine (boats, jet skis)
  • ✓ Terms up to 7 years

How Car Loan Matching Works

Real calculations specific to car loans

1

You Provide Vehicle & Financial Details

Our 2-minute assessment collects:

  • • Loan amount & vehicle value
  • • Vehicle type (new/used) & age
  • • Income & employment details
  • • Credit score & existing debts
  • • Deposit/trade-in (if any)
2

We Calculate Your Metrics

Our algorithm automatically calculates:

  • • LVR (Loan-to-Asset Value) - critical for cars!
  • • DTI (Debt-to-Income Ratio)
  • • Monthly Repayments (5-7 year terms)
  • • Vehicle Age Impact (lenders have limits)
  • • Loan-to-Income Ratio (some lenders cap at 2x)
✓ Car-specific calculations
3

Match You With 15+ Lenders

Each lender scored on:

  • • 30 pts - LVR Quality (car value vs loan)
  • • 25 pts - Income Strength
  • • 25 pts - Credit Quality
  • • 10 pts - Employment Stability
  • • 10 pts - Deposit/Trade-In
  • • +15 pts - Specialty (EV, luxury, etc.)
✓ 100-point match score
4

Review Your Indicative Options

Results categorized by match quality:

  • 🌟 Recommended (70%+ match)
  • ✓ Possible (50-69% match)
  • ? Near Matches (shows what's needed)

Each lender shows:

  • • Indicative match score
  • • Estimated approval likelihood
  • • Indicative rate estimate
  • • Monthly payment (5yr & 7yr)
  • • Processing time
Start Car Loan Assessment →

Understanding Car Loan Metrics

What makes car loans different from home loans

🚗 LVR for Cars (Loan-to-Asset Value)

Formula: (Loan Amount ÷ Car Value) × 100

Example: $30K loan ÷ $35K car = 86% LVR

Why it matters:

  • <80% LVR: Best rates, all lenders, easy approval
  • 80-100% LVR: Good rates, most lenders accept
  • 100-120% LVR: On-roads/insurance included, rate +0.50%
  • >120% LVR: Very limited options

Key difference from home loans: Cars depreciate! Lenders are more cautious about high LVRs because the car loses value quickly.

📅 Vehicle Age Limits

Critical factor: Most lenders have maximum age limits!

Typical limits:

  • New cars (0-2 years): All lenders, best rates
  • Used (3-7 years): Most lenders, rates +0.50%
  • Older (8-12 years): Limited lenders, rates +1.00%
  • Very old (13-15 years): Specialist lenders only
  • >15 years: Usually not financed

Our algorithm: Automatically filters lenders by vehicle age. If your car is 10 years old, we won't show you lenders who max out at 7 years.

💰 Loan-to-Income Ratio

Formula: Loan Amount ÷ Annual Income

Example: $40K loan ÷ $80K income = 0.5x

Lender limits:

  • <1x income: Easy approval, all lenders
  • 1-2x income: Acceptable, most lenders
  • >2x income: Limited lenders, requires strong credit

DTI Still Matters:

If your car loan payment + other debts exceeds 40% of monthly income, expect rate premiums or rejections.

Our algorithm: Calculates both loan-to-income AND DTI. Some lenders care more about one than the other.

Our Car Loan Lender Network

15+ specialist car loan lenders

🏦 Major Banks (Big 4 + Regional)

Commonwealth Bank Westpac NAB ANZ Bank of Queensland Bendigo Bank

Best for: New cars, good credit (650+), PAYG employment, deposit available

🚗 Specialist Car Lenders (9+)

Latitude Financial Pepper Money Liberty Financial Metro Finance Money3 Plenti +3 more

Best for: Used cars, older vehicles (up to 15 years), self-employed, credit-impaired, higher LVR

Lender availability and criteria may vary. Panel includes lenders accepting car loan applications as of October 2025. Rates and criteria subject to change. Not all lenders suitable for all circumstances.

Real Example: Car Loan Matching

See what our algorithm shows

Example: Used Car Purchase

  • Loan Amount: $35,000
  • Car Value: $40,000 (3 years old)
  • LVR: 87.5%
  • Annual Income: $75,000
  • Loan-to-Income: 0.47x
  • Credit Score: 700 (Very Good)
  • Employment: PAYG - 3 years
  • Existing Debts: $800/month
  • DTI: 26.3%

✅ Algorithm Results

  • Recommended Lenders: 12
  • Top Match: NAB (88% match)
  • Estimated Approval Likelihood: 85-95% (Indicative - subject to lender assessment)
  • Indicative Rate: 7.29%
  • Rate Adjustment: -0.15% (good credit)
  • Monthly Payment (5yr): $698.45
  • Monthly Payment (7yr): $536.21
  • Processing Time: 3-5 days

Why this works: Low DTI (26%), good credit (700), reasonable LVR (87.5%), stable PAYG employment, newer used car (3 years) all contribute to high match scores.

Our Commitment

We are committed to providing thorough comparisons across our lender panel. If you believe we have missed a suitable option, please contact us and we will review your circumstances. All recommendations are indicative only and subject to lender approval.

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Ready to Explore Your Car Loan?

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Start Your Car Loan Assessment →

2 minutes • No credit impact • No cost to you • 15+ lenders compared

Ricky Esteb - Licensed Mortgage Broker
Richard (Ricky) Esteb
Licensed Mortgage Broker & Founder
Credit Rep #574071 ACN 681 636 056 83+ Lender Panel

With direct experience helping Australians secure home loans, car finance, and business funding, Ricky founded Esteb and Co to bring transparency and technology to mortgage broking. Every piece of content is written from real-world lending experience.

✓ Verified & Last Reviewed: December 2025 | Content meets ASIC regulatory requirements

Latest Insights on Car Loans

Data-led analysis and practical guides from Richard Esteb, updated regularly.

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