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Monthly repayment from


Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

Car Finance

Car finance makes buying a new car possible, even when your savings don’t add up in full. Perhaps the idea of spending your money on a brand new car is risky for you, knowing you could use it to finance business expenses or invest it elsewhere. Good thing there’s a reliable online finance solution here at MONEYME that makes car loan deals and applications fast and easy, in just one click.

Car financing doesn’t need to be complicated. With our resources here, you’ll be in a better position to decide what best car finance option is right for you. As there are many car loans application everywhere, you may feel overwhelmed and confused about which one can work best for you since buying a car can be a significant investment. 

But don’t worry, MONEYME makes online loan applications straightforward, thanks to our advanced tech-driven platform. Process your car loan application in just minutes and enjoy the convenience of online loan approvals and fast fund transfers for your car financing. 

How does car financing work?

Car financing works when you borrow money from a lender to pay for the vehicle you want to buy through monthly car installments.

Usually, the two options you have when buying a car are either paying through car finance or upfront. Paying in cash can relieve car buyers from monthly payments and interest charges. However, this solution might not be for everyone; you might not have sufficient funds at the moment, or maybe you’re considering investing part of your money for diversifying your portfolio. In this case, car finance will work best for you if you urgently need a car but you also don’t want to waste time waiting until you’ve saved enough to buy one. And if the monthly repayment for car financing is manageable for you, then there’s no reason why you shouldn't give it a try.

Traditional financial entities like banks will ask you for a higher down payment. You may need to repay the remaining amount via regular monthly payments with interest. Bank financing for car loan applications may also take time as the approval process goes through different personnel and departments. When it comes to bank loans for car financing, you’ll have a preapproved option for your auto car finance. The pre-approved benefit lets you know your total loan amount, the interest rates and repayment terms. However, getting preapproved does not mean that your auto loan is already approved, as the bank will still need to check your credit report and credit score.

Some aspiring car owners would apply for car finance via online financing instead of bank loans. If you’re looking for a fast, convenient, and flexible loan application, then opt to get a car on finance using our premium financial services at MONEYME. 

With regular bank loans that usually require a collateral pledge, you run the risk of the lender repossessing your car should you default on your loan. Additionally, bank loans may also require a stringent application process that can take weeks and months to approve. 

At MONEYME, our loans ranging from $5,000 to $50,000 do not require collateral. So if you are looking for quick car loan approval, then consider our fast, easy and online solution so you can purchase the car of your dreams. You don’t need to personally go to the lender’s office to fill out the loan application form. All you need to do is sign up online or download the MONEYME app via the App Store or Google Play Store, so you can easily manage all your finances on your phone. You may need to check your car loan eligibility too. Enjoy cashless transactions for your car loans faster and better.

How much does it cost to finance a car?

When applying for a car finance option, you will need a careful assessment of the cost as there are a number of factors that you will need to consider. For example, your monthly income should be enough to pay for the monthly loan instalment and interest. You may also need to plan in the event that you lose your job, and ensure you can tap into other sources of income to pay for the loan. It is best to consider the cost that you have to pay to maintain a good credit score. 

Assessing your credit score for a car loan gives money lenders a background about your credit history. Lenders will often ask you questions about any existing loans and the type of loans that you have at present. Your credit report will show your credit score and will determine your level of capability in repaying loans on time. A good credit score will positively impact your loan interest, payment terms, and repayment conditions. 

However, if you don't have a great credit score, this doesn’t mean MONEYME will automatically decline you. We understand that there are many reasons why people have a mark on their credit file, so if you can demonstrate that your circumstances have improved since then, we’ll happily consider your car loan eligibility.

Loan interest rates will also determine the cost to finance a car as it applies to the total amount charged in the loan on top of the principal. Lower interest rates apply for car loan lenders with good credit standing, while higher interest rates are at risk for those with less-than-ideal credit scores. When you purchase an auto via an online loan, a specific loan interest rate is usually applied to the principal amount of the loan, depending on your current credit score.

When looking for a car finance company, you need to check their starting interest rates compared to bank financing. At MONEYME, we’re always transparent about costs and interest rates before you make a decision; that’s why we will give you clear parameters of how much you will need to pay over time. To help you visualise a possible loan repayment term, our website also offers a personal loan repayment calculator.

Besides knowing about loan interest rates, loan duration will also determine the cost of your car financing. Loan terms can range from one to five years. A short-term loan means higher monthly repayments, but paying it off sooner means you pay less interest. At the same time, a longer loan term like five years may mean a lesser fee for monthly repayments, yet you pay more interest over time.

At MONEYME, we strive to offer our customers lower interest rates compared to the big banks in Australia. Avail of our fast and easy online application for your car financing only at MONEYME. Our digital financial service company provides you with flexible repayments with no early exit fees. Get your funds straight to your account the same day you apply.

Feel free to contact us if you have any questions. Apply now.

Our customers

Car Finance

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


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Won’t impact your credit score!
Won't impact your credit score!

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