Car Loans

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A car loan is usually secured with your vehicle purchase. Used car loans are also something you can avail, both through secured and unsecured car financing. At Intellichoice we can help you acquire your dream car.

Secured car loans have lower interest rates compared to unsecured car loans. You can buy your first car, or your second, with either option through an Intellichoice loan specialist. Let us make your dream car purchase true. Get a quote today.


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Do you need a car for work, weekend trips or anything in between?

Securing your first vehicle can be difficult if you do not have a good credit standing. However, with a bad credit car loan, financing your dream vehicle is possible. You are a few steps away from purchasing your dream car, through a personal car loan.

Intellichoice will tailor a loan package that suits your needs! Search our ‘Find a Loan’ page for the right solution for you. Why not see our articles and videos and gain great tips with useful information to assist you with your decision. Our guide has the most up-to-date advice, information, and tips for car loan repayment strategies and general advice.

Whether you’re after a solid work vehicle or a brand new luxury car, our insightful information will show you how to choose the best Intellichoice Car Loan. Taking care of happy clients all over Australia, we are proudly the experts in the car loan industry.

If you are buying your first car or looking to upgrade, make sure you speak to the mortgage brokers at Intellichoice first about finding the right car loan to finance your new set of wheels. We have established a strategic partnership to offer you a quick and easy way to arrange the purchase of your new or used vehicle.

We have access to a comprehensive range of business and personal car loans and will be able to find a product to suit your needs and circumstances.

And don’t worry even if you don’t fit into the strict lending criteria of the bank – we may still be able to find a finance solution for you. If you have defaults, had too many enquiries on your credit rating, are self-employed with no financials, or been declined multiple times without a reason – speak to us about alternative car finance solutions, including our bad credit car loans. We assess each client based on its merits and then offer a tailored finance solution to suit your needs and budget.

Once you have bought your car, you will want peace of mind knowing it is covered with the right type of car insurance, so make sure you protect your car against damage, theft, fire or storm.

Determine the Loan Amount You Need to Borrow

The amount you need to borrow depends on the price of the vehicle and how much of your own money you will use to put toward the purchase. You will need to think about how much you can afford to borrow, too.

In order to determine how much you can afford to borrow, it helps to work out a budget so you can ascertain how much you can afford with repayments.

Some car loan lenders have a minimum amount that you can borrow. Intellichoice will help advise you on the amounts you can borrow and the appropriate options that are available to you.

Which Car Loan Type is For You?

There are a number of different types of car loans available depending on your needs.

Variable: A variable car loan means that the loan fluctuates in the interest level. Your repayments may increase or decrease, depending on the interest rate at the time. This type of loan is harder to budget for as your repayments may vary from month to month.

Fixed: A fixed car loan is a type of loan where the interest rate is fixed for the term of the loan, so the repayments will stay the same. Because of this, it is easier to budget for a fixed loan compared to a variable loan; however, fixed rates tend to be higher than variable rates.

Secured: With a secured car loan, generally the car you wish to purchase is used as an asset for security against the loan. For lenders, this type of loan is seen as a lower risk due to the fact that if you default on your repayments they can repossess your vehicle and sell it to pay off your loan. Because of this fact, secured car loans generally offer better interest rates.

Unsecured: Unlike secured loans, unsecured car loans do not require the car as security against the loan. Instead, you need to prove that you can meet the repayments by showing a history of savings or if you have previously had a loan or a credit card that you met the repayments. Some borrowers may not have the option of choosing between secured and unsecured car loans but with so many to choose from on RateCity you are bound to find one that is a great value and suits your requirements.

Are you looking for a new car or a used car? Which one you choose and the age of the car will determine what type of car loan you may require.

Choosing the Vehicle Type

New Car Loan: A new car loan is a type of personal loan available to fund the purchase of a new car. With this type of loan, there are usually conditions about the age of the car that you wish to purchase. These, however, will differ between financial institutions as some may offer new car loans to brand new cars only, while some may consider a new car no more than two-years-old or with a certain amount of kilometers on the clock.

Interest rates for new car loans are usually a bit lower than a used car loan as this type of loan is seen as less risk to the lender because new cars are generally worth more than older models.

Used Car loan: A used car loan allows you to borrow money in order to purchase a used car only. Depending on the financial institution, there may be restrictions on the age of the car in order to be eligible. For example, some may offer this type of loan to cars that are between two to five-years-old. Be sure to check with your lender for terms and conditions.

The other major difference between a used car loan and a new car loan is that interest rates may be a little higher for used car loans. Much like a new car loan, thereise also a range of secured and unsecured used car loans available to choose from.

Call our Customer Care Team, today, on 1300 55 10 45.


Our team of experts spends the time to find out about you and your circumstances. We will determine the best options for you based on your earnings, any debts you might still have and your current needs and objectives.


Videos for car loans that can help you choose from our list of product of loans.


Intellichoice spends the time sifting through the hundreds of products and opportunities that are out there and find the right ones for your needs. We will then present it all in a manner that you can clearly understand.

Frequently asked questions

What is a car loan?

A car loan is a specific type of loan that is ideal for individuals who are looking at purchasing either a brand new or used car.

What is the cheapest car loan in Australia?

Is dependant on many factors at time of application as many lenders have specials and discounts on given months. Quoting tools only provide limited information and is where brokers come into their own in providing solutions.

Which car loan works best for me?

Choosing which car loan works best for you is not a straightforward thing to do. To properly determine what loan type works best for you, you need to know your budget, your income, and future circumstances. For individuals with inconsistent income, for example, a variable rate car loan may not be the best choice because with the fluctuations of the interest rate, it would be difficult to budget.

How do I get a car loan in Australia?

Before getting a car loan, you need to make sure you have set a budget. You may also consider your financing options, which may require that you are eligible for a car loan. After knowing your eligibility, you can now start comparing different car loans from different lenders. Once you have selected the lender, that’s the time you can lodge your application.

Is it better to get a car loan from a bank or dealer?

Generally, dealers offer more competitive deals as opposed to lenders. Dealers, however, may negotiable much higher rates to cover for handling your application. In most cases, getting a car loan will give you a much lower interest rate than what lenders usually offer. Again a better option is allow brokers to do the legwork after a proper analysis of your needs now and into the future.

What credit score do I need for a car loan?

Credit score requirements from lender to lender. But according to some estimates, most lenders and leaders would require a credit score of at least 656 for used cars and 713 for brand new cars.

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