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9.20% p.a.

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10.58% p.a.

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Car Lenders

Car lenders have become the go-to entity of Australians who would like to borrow or avail of auto loans, whether a used car loan or a new car loan. Traditionally, car lenders are financial institutions, banks, or professional lenders who offer car loans by providing the potential borrower with a lump sum of money they can use to pay for their preferred car. In return, most car lenders place interest fees and charges during the loan process and set terms and conditions for the repayment of the money borrowed. 

Unlike other lenders, MONEYME stands out because it offers a swift and easy transaction by making its process 100% online. We can pass the savings back to you with bank-beating rates so access to your money is guaranteed faster, easier, and smarter.

We look at more than just your credit score, allowing customers like you to apply in minutes and receive funds soon after.

What do car lenders look for?

In applying for a car loan, the first thing you should do is increase the chances of getting your car loan approved by car lenders. In a 2021 survey by Finder, it was revealed that around 19% of Australians have taken out a car loan to purchase a vehicle. With many Australians continuing to aspire to buy a car on finance, here’s a checklist of the things you need to secure to have a seamless transaction with car lenders when applying for car loans. 

Proof of identity

Unsurprisingly, car lenders are required to verify your identity before they grant a potential borrower of auto loan. In most cases, your driver’s licence is the best proof of identity that you can show to car lenders. Other proofs of identification may include your passport and Medicare card. 

Proof of income

The cost of your car loan depends on multiple factors, although your ability to repay is one of the most influential ones that make a borrower eligible for a car loan. Typically, banks, financial companies, and other credible car lenders require one of these documents to be presented while evaluating their application: 

  • Payslips - present your two most recent payslips
  • Bank statements - at least for the last three months
  • Tax returns or BAS statements (if you own a business)

Proof of assets and liabilities

Providing car lenders with documents proving your assets and liabilities, which support your financial capacity, is also a crucial element in deciding whether you’ll be granted a car loan or not. As such, you’ll probably need to present: 

  • Details about your debts such as personal loans, mortgages, and credit cards
  • Details of any income-generating assets you have, including stocks and other income-generating investments
  • A summary of your superannuation

However, when applying for an unsecured car loan, a good credit score among all other factors is a must. 

Information about your preferred car and insurance

The amount of money to be offered by car lenders is determined by the price of the car you wish to buy. If you’re buying through a dealer like for a new car loan, a dealer’s invoice or contract of sale including an address, contact number, and ABN shall be presented. However, when making a private purchase like for a private car loan, details about the vehicle such as its registration, the sales invoice, and the seller’s driver’s licence and bank details are most likely required. 

With MONEYME, you don’t have to worry about all these tedious processes and requirements when applying for our best car loan. We pride ourselves on having a fast and easy application process for online car loans. We only require basic information, and once you receive our approval, the funds can be transferred to your account on the same day you applied!

How is the car loan amount calculated?

Most car lenders provide online loan calculators to help you plan your finances when taking out a loan. At MONEYME, a free loan payment calculator is available on our website so it will be easier for you to stay on top of your financial situation by knowing what your loan repayment will be regularly. 

You can calculate your repayments instantly using the MONEYME calculator and see how much your repayments will be each fortnight or month. This is helpful in budgeting for your loan and ensures that you don’t get caught out by any unexpected costs. 

To use the repayment calculator, simply select the amount you want to borrow and then choose your preferred repayment term, which can range from one to five years. It will then give you a quote.

For instance, if you want to avail of a chattel mortgage car finance, you can see instantly the different costs of your loan by selecting the different ratings in our repayment calculator.

How to choose the best car lender?

The key in choosing the best car lenders is to make sure you know what you can only afford to avoid locking yourself up in a financial strain and know which car lender will make that happen. At MONEYME, a bunch of tech lovers building innovative finance solutions designed specifically for the digital world will help you get started in choosing the right car loan by assessing who you are and what you can provide.

As a lender with a smart and quick loan process, we’re all about utilising advanced technologies to speed up the outcome of your application, including credit products like small loans, personal loans, and fast

cash loans. You also don’t have to worry about our rates as we offer low interest starting lower than the big four banks in Australia. 

Planning to get started? 

Simply complete the online application form and get approved in minutes. Depending on who you bank with, your money ranging from $5,000 to $50,000 can hit your account in as little as 60 seconds after approval. Install our app and try MONEYME now to get the best car finance deals for you.

Our customers

Car Lenders

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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