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Old Car Finance

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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.

Old Car Finance

If you’ve been planning to buy a used car in Australia, applying for old car finance can be a great way to get the vehicle you want without having to pay the full price upfront. In general, old car finance is simply a loan that’s used to help cover the cost of buying a used car. 

While old car finance may have a higher interest rate than a new car loan, it can pave the way for you to own a car that you may not have otherwise been able to afford. Old car finance is also generally easier to qualify for than a new car loan, so it’s a good option if you have less-than-perfect credit.

Ready to take the first step towards owning your dream car? MONEYME’s old car loan can help you purchase a second-hand vehicle. You can typically borrow between $5,000 and $50,000 and pay it off anywhere between one and five years. 

We also have a dedicated team of experts who are on hand to answer any questions you may have about our used car finance deals. So if you’re looking for a car loan to help you buy a second-hand car, MONEYME can help. Apply now and get started on the road to owning your dream car.

How does car financing work for older cars?

The process of financing older cars is pretty much the same as financing a new car. You’ll need to fill out a loan application and provide information about your income, employment history, and credit score. The lender will then determine whether or not you’re eligible for a second-hand car loan and, if so, how much they’re willing to lend you.

Before you start looking for second-hand car finance, it’s important to understand the limitations of a used car loan. Most lenders have a maximum age limit for the vehicles they’re willing to finance, typically between 10 and 15 years. There are several reasons for this, but the most important is that lenders want to be sure the car will last as long as the loan. Given that used cars depreciate in value over time, there’s always a risk that the car could be worth less than the loan by the time it’s paid off. By limiting the loan to newer cars, lenders can minimise this risk. 

With MONEYME, this is not a problem. We’re happy to provide car loans for cars of any age. We understand that not everyone is looking for a new car and that older cars can often be just as reliable – it’s all about finding the right one.

Our online application is quick and easy, so you can get the pre-owned auto loan you need to buy your dream car sooner.

What are the benefits of financing an older car?

With MONEYME, the benefits of financing an older car are as follows:

  • You can get a low-interest loan. If you have good credit, you may be able to qualify for a low-interest auto loan from us. This can save you money on your monthly payments and help you pay off your car faster.
  • You can avoid a down payment. Many lenders require a down payment on a used car, but with MONEYME, you may be able to finance your entire purchase. This can help you save money upfront.
  • You can get flexible repayment terms. MONEYME offers flexible repayment terms that allow you to choose a plan that fits your budget. You can make fortnightly or monthly payments, and you can choose a term length that works for you (from one to five years).
  • You can get pre-approved. MONEYME offers pre-approval for auto financing, which can give you peace of mind when shopping for a new car. Pre-approval means that you know how much money you have to spend and what your monthly payments will be.
  • You can keep your vehicle if you default. MONEYME’s old car finance doesn’t require collateral. This means the loan is unsecured, and you don’t have to worry about losing your car or any asset if you can’t make the payments. We do ensure that we only lend you an amount you can afford to repay comfortably.

With the above benefits, it’s easy to see why financing an older car with MONEYME is a great option. Apply for a loan today and see how we can help you get behind the wheel of your dream car.

How to finance an old car?

To start applying for our best used car loans, simply fill in our quick and easy online application form. You can apply for a loan up to $50,000 and choose from our options of repayments that suit your financial condition. After you submit your application, our dedicated team of experts will assess your eligibility and work to get you the best old car finance rates and terms. 

Once you are approved, we will send you the loan contract to sign and return. The funds will then be transferred directly to your savings account, ready for you to use however you like!

Unlike the loans offered by traditional car finance companies, our car finance options are designed for people with all types of credit histories. So if you have less-than-stellar credit, we encourage you to apply with us. We cannot guarantee that you will be approved, but we will do our best to help you get the old car finance you need.

Apply now and get started on the process of financing your old car today!

Our customers

Old 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


Ready to get

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

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