Car Loans

Name: Car Loans
Brand: Plenti
Rating: 4.7 (5964 reviews)

The key to your
new set of wheels

Apply online today and secure your personalised rate in as little as 60 seconds.

Interest rates from

7.19

p.a.

Comparison rate*

7.82

p.a.

Interest rates from

7.19

p.a.

Comparison rate*

7.82

p.a.

Benefit from our expertise in financing over 43,200 new and used cars, allowing our customers to hit the road with their new wheels sooner.

Whatever type of car you're looking for, we have an option for you.

New car loans - Get the keys to your dream car quickly, with funds in as little as 24 hours.

Used car loans - Not in the market for a new car? Discover your options for a used car loan.

EV car loan - Get rewarded for going green with our discounted rates for EV’s.

Just like choosing the perfect car, take the time to find the right loan.

Borrow up to $100,000

3-7 year loan terms

24hrs average settlement time

$0 early repayment fee

$0 monthly fee

Personalised interest rate

Car loan repayment calculator

Find out how much your loan repayments could be with a Plenti secured car loan.

Loan amount

Loan term (years)

Example interest rate: 7.19% p.a.

Comparison rate: 7.82% p.a.*

Estimated monthly repayments from

Total repayment (incl. interest and fees)

Get your rate

Repayment calculator: The calculator is designed as a guide for the Plenti Car Loan product only and does not apply to applications submitted via Tesla or vehicles financed under the Plenti Personal Loan product. This calculator is not a quotation or an offer of credit. The interest rates and monthly repayment amounts are indicative and based on a range of criteria and assumptions. The calculator applies to new loans only and the amount you can borrow, your personalised interest rate and repayment amount may be different once you complete a loan application.

Why choose Plenti for your next car loan?

Personalised rates

Plenti offers personalised rates tailored to your credit history and financial situation.

Easy online application

Our easy online application allows you to find the terms, rate and monthly payments that align with your budget.

Negotiating power

With financing ready, you can focus on negotiating the best price for your new car without distraction.

EV Rate Discount

Plenti offers a rate reduction of 0.5% p.a. for those financing new electric vehicles up to $90,000 through our collaboration with the Clean Energy Finance Corporation (CEFC).

A faster, fairer way to finance your new car

Our smart, paperless borrowing experience means you can spend more time cruising the open road and less time on your loan application.

Get your rate

Answer 10 quick questions to see your personalised rate in 60 seconds, without impacting your credit score.

Apply online

Complete your car loan application in under 10 minutes.

Funds are ready

Finalise your purchase online after pre-approval. Once approved, funds are transferred to the seller within 2 business days. You're ready to hit the road!

Reviews

A 5-star experience from start to end

Buy your first car, dream car or somewhere in between with Australia's most 5-star reviewed personal lender.

2,5265-star reviews

1,6155-star reviews

7615-star reviews

Family leaning against boot of open car on dirt track in the middle of a field watching something in the distance

What is a secured car loan and how do they work?

A secured car loan is a financing option where the vehicle itself is used as collateral. This type of loan is considered less risky for lenders, often resulting in lower interest rates compared to unsecured loans. If you're looking for a low-risk car loan with favorable rates, a secured car loan might be ideal.

In a secured car loan, you pledge an asset (the car you're buying) to secure the loan. Consequently, they offer lower interest rates. Many lenders accept a variety of assets, but it's common to use the car you're purchasing, provided it meets certain age and value criteria.

What is the difference between a secured and unsecured car loan?

A secured loan is backed by collateral, such as the car you're purchasing. This means if you can't make repayments, the lender can repossess and sell the car to recover the loan balance. Because this reduces the lender’s risk, secured loans often come with lower interest rates. However, these loans typically have restrictions, such as maximum vehicle age. Lower rates are often available for newer cars.

In contrast, an unsecured loan involves more risk for the lender since there’s no collateral to claim if you default. As a result, interest rates for unsecured loans are generally higher. The upside is greater flexibility, as these loans usually have fewer restrictions on how funds are used and may allow the borrower to cover various expenses like insurance, registration, or new tires. You should check your loan for any terms and conditions to understand any restrictions or requirements.

What documentation is required to get a car loan?

For initial assessment we may require some of the documents below:

Proof of ID-Driver’s license, passport, Medicare card, etc.
Proof of Income: Recent payslips, tax returns, or bank statements.

For some circumstances we may require additional information as below:

Proof of Residence: Utility bill or council rates confirming your address.
Proof of Savings: Bank statements or investment documents.
Assets and Liabilities: Information on property, other vehicles, and existing debts.

What information do you need to supply to settle a car loan?

If you are buying a car from a dealership

Vehicle sales invoice: our friendly sales team can request this for you
Car Insurance: Proof of comprehensive insurance

If you are buying a car through a private sale

Private Sales Invoice: Which is a contract between you and the seller and ensures we have the correct finance details
Third-party self-administered Inspection Report: to confirm the vehicle's condition and ensure funds are sent to the correct bank account. This is at no extra cost to you or the seller.
Car Insurance: Proof of comprehensive insurance

If you are looking to refinance your car

Payout Letter: Provide us with a future-dated payout letter to ensure the correct funds are sent.
Car Insurance: Proof of comprehensive insurance

Providing these documents quickly will help expedite your loan application. After this information is provided, we can settle a loan in as little as 2 hours, and the funds can be transferred in as little as two business days.

What is a comparison rate for a car loan?

A comparison rate is a tool to help you understand the true cost of a car loan. This rate allows you to better compare the price of different loan providers by factoring in some of the fees and charges that are included in their loan. Some loan providers have very high fees that cover the costs for establishing the loan.

Typically, the comparison rate on a car loan is calculated on a $30,000 loan amount over 60 months. This includes the interest rate and additional fees (including establishment fees, brokerage fees and monthly fees).

While the comparison rate covers many costs, some are not included:

Government Stamp Duty and On-Road Costs
Late Payment Fees
Break Costs or Early Termination Fees
Cost savings such as fee waivers or the availability of interest offset arrangements which can influence the cost of a loan

How much can I borrow to buy my new car?

The amount you can borrow to buy your new car, also known as the loan amount or principal, is the sum on which you will pay interest and any applicable upfront fees. In Australia, car loans typically range from $5,000 to $100,000, although some lenders may offer higher amounts. Your borrowing capacity is determined by considering a range of factors, which may include; your credit score, income, expenses and loan term.