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Car Installment

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Estimated monthly repayments


Example interest rate

9.20% p.a.

Comparison rate*

10.58% p.a.

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Car Installment

Working with a transparent and responsible lender or dealer is the easiest way to minimise your monthly car instalment costs. MONEYME is a leading online money lender that offers same-day processing on our low-interest car loans. 

How are car instalments calculated?

Traditional and alternative lenders alike calculate car instalments based on several variables, and they usually provide an online repayment calculator to help you determine your potential instalments. It is a valuable tool to help you figure out what vehicles you can afford and what loan terms and conditions best suit your financial capacity.

MONEYME features an intuitive personal loan calculator that can give you an estimate of your monthly car repayments for different interest rates and loan terms. This calculator makes it easy to assess how repayments fit into your current pay cycle by taking into account different factors that include your target interest rate, loan period, and current credit score classification. However, it has zero impact on your credit score because it is not part of the loan application process, meaning you can use it as many times as you want without consequence. We only check your credit score in a way that would impact your credit score after you’ve decided to apply.

Whether you’re looking for a new car loan or a used car loan, we offer variable-rate loans at competitive interest and low fees.

What happens if you don’t pay your car instalment?

There are repercussions to missing a car instalment, so you must make sure to stay on top of your debt obligations when you take out a vehicle loan. If you fail to meet these obligations, you default under the vehicle finance contract. Your lender may contact you ahead of time to inform you about an upcoming car instalment, but these repercussions can come in the form of extra charges and negative marks on your credit report. These negative marks can stay on your file for several years, adversely affecting your credit score and your chances of getting loan approval in the future.

If you take out a personal car loan but later find yourself in a difficult financial situation, it is best that you contact your lender and ask to negotiate a repayment plan to help you get back on your feet. Just make sure that you set realistic targets with your lender so that you can stick to the agreement. You should also keep in mind that some lenders charge an early repayment fee if you make additional repayments or pay off a car loan early.

MONEYME does not impose penalties for early repayments, meaning you can save hundreds of dollars in interest by prepaying your loan. Moreover, we only grant unsecured car loans that hinge on your ability to repay debt instead of requiring assets of equal or higher value as collateral. That means you are not at risk of losing your properties even if you default on the loan. We put these safeguards in place to protect your interests and help you get on the track towards financial freedom. 

How to reduce your car instalment?

You can choose a long-term loan to minimise your car instalments, but keep in mind that you are paying higher interest the longer the term. You might be better off with a shorter term if you want to reduce the overall cost of the loan. It all boils down to your preference and capacity, but you should work with a lender that offers a range of loan terms tailored to your circumstances.

MONEYME lets you decide on a loan term between one and five years to cater to your specific requirements. So whether you want a long-term loan to minimise your monthly repayments or a short-term loan to avoid high interest rates, we are here to serve you. 

We take pride in garnering our reputation as one of the best alternative options to traditional lending institutions in Australia. The completely digital personal loan application system we employ eliminates the need for customers to deal with the endless paperwork typical of conventional loan processes – just fill out a simple online form, grant us read-only access to your most recent bank statements to verify your financial standing and use your drivers licence to verify your identity. We also protect our website using high-grade encryption technology to ensure the safety and security of your personal information. 

MONEYME has a team of customer service representatives on standby to answer questions or concerns you might have about our services, and they would be happy to assist you at whatever stage of the loan application process. We also have an intuitive online dashboard that enables you to manage your loans in one convenient platform using your computer or mobile device. You can use it to keep track of your car payments and other financial obligations with us and avoid incurring negative marks on your credit report. 

MONEYME is a strong advocate of responsible and transparent lending. We exercise due diligence when formulating loan agreements to protect your interests and ensure your financial stability. You can rest assured that we will only lend money that you can realistically afford to repay. Moreover, you never have to worry about surprise charges when you work with us, as we are completely open about the fees and charges that relate to our services. So take advantage of our speedy loan request system and apply now!

Our customers

Car Installment

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!

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