Car Loan Comparison Rate
Weigh up all the factors that go into a car by pursing our Car loan comparison rate chart.
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Comparison Rate Explained
There are a number of factors which you need take into account when taking out a loan to ensure that you get the best loan. We listen to your situation and circumstances and use it as the base to create a customised loan solution, which meets your needs.
When taking out a loan you need to be aware of the cost of establishing the loan as well as the on going costs associated with the loan while comparing the interest rate so that you can make a comprehensive decision. You need to keep in mind that each lender has their own fees and charges and by finding out the comparison rate you are able to clearly compare each lender.
Our Rates |
The Banks |
|
|---|---|---|
| Cars from | 7.90%* | ANZ Personal Loan rates from 13.89%† |
| Bikes from | 9.50%* | Westpac Personal Loan rates from 13.89%† |
| Boat from | 9.10%* | CBA Personal Loan rates from 13.80%† |
| Commercial from | 7.50%* | NAB Personal Loan rates from 13.40%† |
What is the comparison rate?
The comparison rate gives you a clear comparison between one loan scenario and another. The comparison rate includes the interest rate with any fees and charges, which are associated with the loan.
You should remember, that the comparison rate helps you compare one loan against another. There are also associated loan features like direct-debt, repayment options and loan portability which give you flexibility but may make a difference to the overall cost of the loan.
What costs does the comparison rate include?
It is important to understand what is included in the comparison rate. The comparison rate will include the interest rate, known fess that such as ongoing fees and up-front fees to have your loan set up.
What does the comparison rate exclude?
It is equally important to be aware of what the comparison rate excludes. The comparison rate will not include Government and statutory fees, any insurance products that may have been included in the loan, event based fees and charges like early payout fees.
How do you calculate the comparison rate?
There is a standard formula you need to use to calculate the comparison rate
- The amount borrowed
- The frequency of repayments
- The interest rate
- The term of the loan
- Ascertainable fees and charges connected with the loan except for government charges.
What is a comparison rate schedule?
A comparison rate schedule details the various rates that apply to the lenders products at various loan amounts and various loan terms.
Comparison Rate
Finance Steps
- Get Pre-approval
- Find the Car you want
- Negociate the best price
- Drive your new car
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