Best Car Finance Rates

Best Car Finance Rates

Anyone looking to get a car loan wants to get the best car finance rates to save money. One way you can discover the best car loan for you is by making a car loan comparison among the auto finance lenders you plan to get a loan from.

The best car finance options should be able to offer you competitive car financing rates, flexible repayment options, hassle-free loan applications, and a loan amount that can cover the expense of the car you want to buy. When choosing among the financing companies for cars, you can opt to loan from either traditional banks or online lenders.

SocietyOne is a leading online loaning platform in Australia. Our process is entirely online, so you can apply for a loan and get your funds without having to leave home. Compared to the big four banks in the country, our vehicle financing rates are much lower since we use a risk-based pricing mechanism, allowing us to offer you some of the best car finance rates according to your unique credit profile. Simply put, the better your credit score is, the better the deal we can offer you.

To help you compare car loans efficiently and see that SocietyOne is among the most reputable car loan providers, we have addressed the common questions related to questions like ‘how to get a good car loan’ below.

What are the benefits of getting a car loan?

Landing a good car loan offers you a gamut of other benefits, such as the following:

Get the car you want fast

Some car loans can lend you up to 100% of your desired car’s purchase price, so you don’t have to save for a long time to buy the car. With a car loan, you can get the car as soon as your funds are released. SocietyOne can lend you more than the car’s worth to pay for car improvements and registration fees.

Spend your cash on other things

With a car loan to cover the expense of your car, your savings and cash flow don’t have to be disrupted. You can still keep enough emergency funds for any unexpected expenses. At SocietyOne, we can release your funds in as little as one business day once your application is approved so you can get the car you want right away.

Establish a good credit profile

Car loans are debts, so they may initially decrease your credit score, but as long as you settle your repayments on time, you can start improving your credit score and increase your chances of getting better loan deals in the future. On the SocietyOne platform, you can check your credit score for free and track its progress as you work on improving it. You also have better chances of securing the best car finance rates for your unique credit profile.

How do I get the best car finance rates?

One way to land the best car finance rates for you is to consider all the important factors that come into play when getting a car loan. Below are considerations as you compare car loans for the best deal:

Monthly repayments

Your loan repayment, the amount of money you’ll have to pay monthly to your lender, is determined by factors like your APR, your loan amount, and the loan term. Choose a lender that is transparent about the calculation of your repayments, so you won’t be surprised by hidden costs later on. SocietyOne will never charge you with hidden fees, plus you can choose between a monthly or fortnightly payment.

Loan amount

Get a quotation of how much your desired car costs, and make sure your lender can cover the amount you need to be able to buy the car. At SocietyOne, for example, you can borrow from $5,000 up to $50,000 under an unsecured loan and up to $70,000 for our secured loan option.

Loan fees and charges

To get the best car finance rates, make sure you know what other fees your lender might charge you, as this can determine whether you are getting a fair deal or not. At SocietyOne, we won’t charge you monthly fees and early repayment fees, so you can settle your loan any time you’re ready.

What is a good interest rate for car finance?

To spot the best car finance rates once you come across them, you should have a benchmark for car loan interest rates. The interest rates differ based on the borrower’s credit score and the loan provider. Banks typically charge more and can be less flexible, so make sure to compare different lenders to find the best place to get a car loan. Our website makes it crystal clear how SocietyOne’s rates measure up to the big four banks: Commonwealth Bank, Westpac, ANZ and NAB, so you’ll know why we’re proud of our competitive offers.

We have an online loan calculator here at SocietyOne, where you can get an estimate for your loan repayments within minutes. You can also request a personalised quote from us in just two minutes and complete the entire loan application within five minutes. Our interest rate is also fixed, so you always know how much your repayments will be.

It’s possible to get cheap loans with SocietyOne because of our risk-based pricing model. We offer loans for renovations, personal loans for students, green loans, and holiday loans. See for yourself how we can offer some of the best car finance rates just for you!