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Private Car Loan

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9.20% p.a.

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10.58% p.a.

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Private Car Loan

A private car loan is one of the easiest ways to get the cash you need and buy your ideal car from a private seller. Like other car finance options, a private car loan is also offered by banks, credit unions, and online lenders. However, private loans for cars tend to have higher interest rates than other traditional loans. 

At MONEYME, we offer some private loans for cars that are strategically designed to cater to your needs. We are one of Australia’s favourite and fastest online lenders that offers fast, easy, and cheapest car finance loans to a wide range of Australian consumers and businesses.

How do private car loans work?

A private car loan works when a lender lends you money to purchase a car from a private seller. Thus, it is important that you have already selected the car that you want to buy from a seller before applying for car finance like a private car loan. If approved, the process is almost the same as other car loans. The lender will pay the private seller with the amount you owe, and then you’ll be one to repay the loan to the lender with agreed interest rates, fees, and other charges, over the term of the loan. Depending on lenders, the usual duration of the loan repayment is from 12 months to 84 months. 

At MONEYME, the repayment period is from one to five years. If you want to determine your loan rating and repayment process, just click MONEYME’s ‘Apply Now’ button and fill out the form. Within minutes, we can assess your repayment terms and the cost of loans.

How are the interest rates calculated for a private car loan?

The interest rates for a private car loan are calculated based on the individual’s credit score. The higher the credit score, the lower the interest rate will be. The interest rates can also vary depending on the length of the loan and the amount being borrowed. Generally, the shorter the loan term, the higher the interest rate will be. The interest rates are also usually higher for loans that are not secured by collateral.

At MONEYME, we do not just look at your credit history. We calculate your interest rate based on your personal circumstances. We look at your employment status, income, and expenditure to make sure you can afford the repayments. This gives us a much better idea of your ability to repay the loan and helps us to offer you a fair interest rate.

MONEYME offers a great deal on auto financing interest rates. We offer a line of credit called Freestyle Virtual Credit Card, which is a great choice for vehicle finance. We have a fast application process and a credit limit of up to $50,000 backed by interest rates that are lower than those of the top four banks in Australia, and up to 55 days of interest-free credit card purchases.

To find out what interest rate as well as monthly repayments you could get for a private car loan, simply apply online with MONEYME and we’ll give you a personalised quote in minutes. You can also use our free online loan calculator to get an idea of your interest and repayments.

How to apply for a private car loan?

When you’ve already found the car you want and you’re ready to apply for MONEYME’s private car finance offer, here are the steps that you need to do: 

  1. Click the ‘Apply Now’ button and fill out our online application form. This should only take a few minutes. You need to provide your personal, employment, and financial details.
  2. We will conduct a fast credit check. Once you submit the application, we will carry out a quick assessment of your creditworthiness. This helps us determine whether you are eligible for our private car loan offer. We use the latest in safe banking technology, and your data is always protected with us.
  3. Once approved, we’ll send you a loan contract to sign electronically. You will need to be aged 18 years or over and have an Australian bank account to sign the contract.
  4. Receive your funds. The approved loan amount, which ranges from $5,000 to $50,000, will be deposited into your account on the same day you apply (depending on your bank and whether you apply during our business hours).

Applying for a MONEYME car loan for private sale is that easy! We’ve designed our process so that you can get the cash you need as quickly and easily as possible. Similarly, making your car payments is just as straightforward. We can set up a direct debit schedule that is aligned with your pay cycle, so you’ll never have to worry about missing a payment or being late. 

You can even pay off your loan early if you want to, without any penalty. This could help save you money on interest, as the sooner you repay your loan, the less you’ll pay overall.

At MONEYME, we assure you of a smooth and fast transaction for your private car loan. We don’t do paperwork as we’re 100% online, and we can pass the money back to you or your chosen car seller with bank-beating rates.

If you have any questions about applying for our best-rate car loan, our team is here to help. Install our MONEYME app now and unlock a myriad of benefits that you can only find here.

Our customers

Private Car Loan

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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