Choosing a car loan

Are you car loan ready?

Last updated: 18 January 2021

Before you apply for a car loan, make sure you are loan ready. Ensure you take your time and research which type of car financing is the right fit for you and your circumstances.

Consider what type of lender you want to borrow from, assess how much you can afford to borrow, whether you can secure the loan with the car, the type of interest rate charged, and what fees may be applicable.

Before you apply for a car loan, check your credit score and credit report to evaluate the likelihood that your application will be approved. Ensure your credit report is accurate and up to date, giving you the best chance that your application is approved.

Before you sign a credit contract, carefully read the entire document and check that all the details and fine print are correct so you are not caught out by unforeseen costs.

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~Comparison rate is calculated as indicated. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different fees, terms, or a different loan amount might result in a different comparison rate. Credit Savvy endeavours to show accurate and up to date information however product provider interest rates may change without notice and may be different on the product issuer’s website. You should consider the product providers website before making a decision on whether to apply for a product.

**The indicative repayments are based on the offer settings information added for loan amount and duration only and may not include all fees and charges.

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