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The Best Car Finance Melbourne:
Low Rate Car Loans

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Lowest Interest Rate Car Loans in Melbourne

Are you looking for Car finance in Melbourne? Our expert team of finance brokers are here to help get you some of the lowest rates available.

  • Rates from
    5.54%

Comparison rate 6.66%

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Electric Loans
Car Loans
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green-tick Best rate found 5.54%

Get your dream car faster…

Electric Loans is one of the leading providers of low rate car financing solutions in not only Melbourne but also Australia wide. Our committed team continually go ‘’above and beyond’’ when it comes to exceeding the expectations of our customers. We have helped many Melbournians get into the car of their dreams by offering affordable car loans at the most competitive interest rates available in the industry.

Electric Loans truly are experts in their field when it comes to customised finance solutions that are tailored to your individual situation,circumstances and requirements, regardless of the make or model of your chosen vehicle. Our primary focus is on understanding what your needs are and pairing you up with a lender that is going to give you the best possible chances of getting you into your new car sooner rather than later.

We compare hundreds of car financing options to save you time and money and offer finance for new, used, and private sale cars, for business or personal use.

How Much Can I Borrow For a Car Loan in Melbourne?

At Electric Loans, our mission is to assist you in achieving ‘Electric Results in Electric Time’. However everyone has different borrowing capacities and personal situations. We recommend you get in contact with one of our expert brokers to see what your borrowing capacity is. That way you can go car shopping in Melbourne with confidence knowing exactly what type of car you can comfortably afford.

Get in touch with us to start the process of getting your customised quote.

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Why choose us

Best Rates
Best Rates

We have access to a vast range of finance products, and the knowledge to know which ones to suggest for you.

Fast Approval
Fast Approval

We’ll make sure your loan is approved as fast as possible, so you can drive away even sooner.

Buyer Freedom
Buyer Freedom

Purchase your car new, used, or through private sale, with a wide range of financing options.

Experienced Advisors
Experienced Advisors

Our financial advisors have decades of combined experience to assist you with finding the best option for you.

Additional Information

*The comparison rate shown is for a secure loan amount of $30,000 over a term of 5 years based on monthly repayments.

Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Approval is subject to customer profile and lender guidelines.

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FAQs

Find answers to commonly asked Car loans related questions.

Some of the features of car loans in Melbourne offered by Electric Loans are:

  • Diverse lenders that provide a range of loan conditions & options.
  • Individual credit profiles determine which competitive interest rates are available to you. Available choices for vehicle loans: secured and unsecured
  • Funding for both new and pre-owned vehicles
  • Pre-approvals are a great way to see how much you can borrow so you can shop in confidence.
  • Options such as residual or balloon payments are often possible with car loans to help reduce repayment amounts.
  • Certain lenders have the potential to provide exclusive promotions or reduced rates for certain cars or monthly promos. Contact your broker at Electric Loans to find out more.
  • Many lenders offer flexible loan terms. The most common car loan terms are 5 or 7 years.

An interest rate is what the lender charges the borrower for the car loan. It is represented by a percentage of the amount that has been borrowed. The interest rate on a car loan is normally represented by an Annual percentage rate also known as APR.

Simply put, a car loan repayment is the amount that you are required to pay each month until the loan is repaid. It is critical that your car loan repayments are made on time. Most lenders that we use offer flexible repayment terms. For more information on repayment schedules please contact on of our expert car loan brokers by visiting our website.

If you have opted for a balloon payment, before the end of your loan, a  balloon payment or lump sum is needed to be paid to finalise the loan. In contrast with a standard repayment loan that requires you to pay every month both for principal and interest, the balloon payment lets you make smaller payments for your loan.

This can be a good option for people wanting to lower their regular repayments, however you need to make sure you have enough funds to cover the final balance at the end.

The lenders we use each have different criteria when it comes to offering people car loans. You should get in touch with an expert auto loan broker from our team so that we can assess your current situation and pair you up with the best possible lender for a bad credit car loan.

You don't need to supply any paperwork to just get a quote for car finance in Melbourne. However, you need to provide some documents such as your driver’s licence, Medicare card, proof of income i.e. paycheck slips, and bank statements in case you already indicated your lender of preference and would like to apply. We guarantee the safety of your data through our unique and safe web platform. Our team of brokers are dedicated to helping in any way that we can.

An unsecured car loan simply means that there is no security interest required against the loan. This generally means that the lender is taking more risk therefore you can expect a higher interest rate when compared to a secured car loan which uses the vehicle you are purchasing as collateral against the car loan.

There is no need for you to buy the car from a dealership to get a car loan. Some people purchase cars from a dealership because of its convenience, and experience. However, you can also buy from private buyers or other sources. However, you must make sure that the seller can provide clear documents and that the car meets your and the lenders requirements.

We can help getting you approved

For the best rate finance broker in Australia, contact Electric Loans – the forward-thinking finance experts.

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