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Car Finance Comparison

SocietyOne / Car Finance Comparison


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Total repayment (inc. interest and fees)
Total interest
8.20% p.a.
Example interest rate*
8.27% p.a.
Comparison rate*

Car Finance Comparison

It’s easier to decide what the best car finance option for you is when you make a car finance comparison. A quick ‘cheap loans Australia’ search online will show you that there are so many car loan lenders you can get a car loan from. While having a multitude of options increases your chances of getting the best finance for a car loan, it can also be overwhelming – especially when you’re not sure how to compare car loans the right way.

SocietyOne is streamlining the way people acquire the funds they need. On our platform, you can find a car finance comparison table that shows our comparison and interest rates beside that of the four big banks in Australia. With the help of this table, you can quickly get an idea of how our current car loan rates compare to other lenders. Our entire loan application process can be completed online so that you can get a loan from anywhere.

If you want to conduct a car finance comparison before making a decision, the common car loan questions we’ve answered below might help you.

What different types of car loans are available?

There’s a wide variety of car loans to choose from but to avoid getting overwhelmed by the car finance comparison you’re doing, keep it simple and focus on these top two options for car loans instead:

Secured car loans

Not sure what a secured car loan is? This type of loan uses an asset you pledge as collateral. Because collateral reduces the risk for the lender, you can possibly borrow more money with a secured car loan. At SocietyOne, we can lend you a minimum of $5,000 and a maximum of $70,000 over a loan term of up to seven years for our secured car loan option.

Unsecured car loans

If you don’t like the idea of your assets as collateral against your loan, you can opt for an unsecured car loan instead. As long as you have a promising credit profile, you can acquire an unsecured car loan to finance your desired car. SocietyOne offers unsecured car loans where you can borrow up to $50,000 for a loan term of up to five years.

What is the best finance rate for a car?

One of the primary considerations when conducting a car finance comparison is the interest rate, as this will more or less determine the total amount you owe to the lender. Car finance rates are influenced by several factors, including the loan amount, loan term, your credit score, the type of car you are getting, and many more.

SocietyOne uses a risk-based pricing model to ensure that you get a fair car loan deal. In a nutshell, this means that the better your credit score is, the better the car finance rate we can offer you. You can check your credit score yourself for free on our platform. You can even access some tips on how to improve it and track your progress as you work on increasing your credit score.

How do I find car finance with the lowest monthly payment?

Your loan repayments are another important factor to consider when it comes to a car finance comparison. The amount you need to pay your lender monthly depends on factors such as your interest rate, loan term, and total loan amount. Typically, the longer your loan term is, the lower your repayments since the loan amount will be spread over a longer period. Do note, however, that this still depends on your lender’s conditions.

At SocietyOne, you can quickly get an estimate of how much your repayments will be once you get a car loan from us. We have an online loan calculator on our platform where you can enter your desired loan amount, loan term, type of loan, and loan frequency (monthly or fortnightly) to generate an estimated repayment amount. You can also request a personalised quote from us within just two minutes.

To complete your car finance comparison, make sure to consider all the other fees that may be incurred as you get a loan. Some lenders may attract you with low repayment fees but trick you in the end by charging you with hidden fees. At SocietyOne, we will never charge you such fees. We also don’t have monthly fees and early exit charges, so you can have peace of mind, knowing you’re free to settle your loan at any time.

Aside from car loans, SocietyOne also offers a wealth of other personal online loans to match your needs. Our travel loan, consolidation loan, and renovation loan are some of the most popular loans we offer on our platform. All you need to do to get a loan is request a quote, complete your online application, and wait for the funds to be transferred to your account; it typically takes one business day after approval.

SocietyOne is among the top choices in every car finance comparison done in Australia. Check your rate on our platform to get started!


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