Secured Variable Car Loan (Private)
loans.com.au's Secured Variable Car Loan offers a competitive variable rate with flexible repayments to suit your needs. Choose a term from 3 to 7 years, with finance available for new or used cars up to 12 years old, purchased via a private seller. Enjoy the convenience of a redraw facility (up to $5,000 per day) for added flexibility with no early repayment fees.
- From
- 5.94%
- 7.22% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Minimum risk-based rate. Individual rates are subject to credit assessment and asset selection. | 5.94% | 7.22% | — |
| Variable Maximum risk-based rate. Individual rates are subject to credit assessment and asset selection. | 16.64% | 17.92% | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Monthly Fee Charged monthly · A fee charged monthly on the anniversary of the loan settlement. | Ongoing | $8.00 |
| Application Fee | Upfront | $500.00 |
Features
- Extra repayments
- Allows borrowers to make additional repayments on the loan to reduce interest and pay off the loan faster.
- Redraw facility
- Enables access to any extra repayments made, allowing funds to be withdrawn if needed. Redraw is limited to a maximum of $5,000 per day.
Eligibility
- Minimum age — 18 yearsApplicants must be at least 18 years old to apply for this loan.
- Residency status — Are Australian or New Zealand citizens living and working in either Australia or New Zealand, or are Permanent Residents of Australia living and working in Australia.
Constraints
- The loan term must be at least 3 years. — P3Y
- Minimum limit — $10,000.00The minimum loan amount available under this product is $10,000.
- Maximum limit — $150,000.00The maximum loan amount available for this product is $150,000. The maximum loan amount for vehicles over 7 years old is $50,000.
- The loan term cannot exceed 7 years. The maximum loan term for vehicles over 7 years old is 5 years. — P7Y
Published by loans.com.au under the Consumer Data Right · Last updated 12 June 2026 · Product ID lca-car-variable-private