--- title: ⚡️How to Get a Low Interest Car Loan description: Low interest car loans are not out of reach. Prepare for it. Call our experienced finance brokers on 1800 277 768 and they can help you through the process. image: http://www.1800approved.com.au/hubfs/blog/Peugeot.jpg --- [![1800 Approved Finance Solutions](https://www.1800approved.com.au/hubfs/Logos/1800Approved_dark.png)](https://www.1800approved.com.au) ### [**1800 277 768](tel:1800277768) #### WELCOME TO # Our blogs Our aim is to supply you with the best information that you can be confident in your knowledge when you make an application with us. # [![logo-easter-d](https://www.1800approved.com.au/hs-fs/hubfs/Easter%20Campaign%202022/logo-easter-d.png?width=268&name=logo-easter-d.png)](https://consumer.zink.com.au/v1) ### Other Posts - [COVID-19 proof your business cash flow – with a little help from the government!](https://www.1800approved.com.au/blog/covid-19-proof-your-business-cash-flow) - [$150,000 Tax-write Off — Going, Going, Gone](https://www.1800approved.com.au/blog/tax-write-off-going-going-gone) - [Current combination of events means it's the best time to buy a car](https://www.1800approved.com.au/blog/the-current-combination-of-events-means-its-the-best-time-to-buy-a-car) - [How to protect your credit score during this COVID-19 pandemic](https://www.1800approved.com.au/blog/tips-on-how-to-manage-your-business-cash-flow-0) - [Tips on how to manage your business cash flow— How the stimulus package is geared to help.](https://www.1800approved.com.au/blog/tips-on-how-to-manage-your-business-cash-flow) - [**](https://www.facebook.com/sharer/sharer.php?u=https://www.1800approved.com.au/blog/low-interest-car-loans-how-to-get-one-0) - [**](https://twitter.com/share?url=https://www.1800approved.com.au/blog/low-interest-car-loans-how-to-get-one-0) - [**](https://plus.google.com/share?url=https://www.1800approved.com.au/blog/low-interest-car-loans-how-to-get-one-0) - [**](https://www.linkedin.com/cws/share?url=https://www.1800approved.com.au/blog/low-interest-car-loans-how-to-get-one-0) - [**](http://www.youtube.com/user/?url=https://www.1800approved.com.au/blog/low-interest-car-loans-how-to-get-one-0) ## ⚡️How to Get a Low Interest Car Loan Posted by [Ken Edwards](https://www.1800approved.com.au/blog/author/ken-edwards) on 16 July, 2017 ![Low Interest Car Loan Australia](http://www.1800approved.com.au/hs-fs/hubfs/blog/Peugeot.jpg?width=640&name=Peugeot.jpg "Low Interest Car Loan Australia") If you are looking to get a car loan, the interest rate may be one of your biggest concerns. Since it will determine your monthly repayments, the lower the interest rate is, the better. Is it possible to get a low interest car loan here in Australia? The answer is a big YES! How low the interest rate can be will depend on different factors. Most of those factors are under your control…(sort of).  The prevailing market rate and economy are also factors, however, there is nothing you can do about those. Let’s discuss those factors that you do have control over.   ## **Factors that affect car loan interest rate** **Secured or Unsecured Car (Personal) Loan** – Secured car loans have a lower interest rate because the car serves as security should you be unable to make your monthly repayments. **New or Used Car** – New cars have a lower interest rate because they are considered to be “low risk” as compared to used cars. It is easier for the financing company to resell new cars should they be repossessed.   For used cars, the age and condition of the car is also a factor in determining the interest rate. Generally, the car should not be older than 12years at the end of the loan term except if you’re financing an exotic or classic car. This is not set in stone so double check with your broker or your bank or your lender. **Repayment period** – Payment terms are generally from 12 to 84 months. **Fixed or Variable Interest Rate** – Fixed rate means you pay the same interest throughout the loan term. A Variable Interest Rate may fluctuate throughout the loan term depending on the prevailing market rate. **Income and expenses** – These may affect the interest rate but more your chances of being approved or not, regardless of interest rate. Your expenses will determine whether you still have enough money to pay for a new loan. **Credit score** – Your Credit Score is one of the major influences on your interest rate. If your credit is good, expect a low interest rate and vice versa.   As discussed, most of the factors above are within your control, so it’s just a matter of getting yourself ready financially; - If your credit is bad, work on getting a higher Credit Score before applying for a car loan. - Save for a deposit. - Buy a new car instead of a used one. - Check your income to expenses ratio and see whether you have room for an added monthly payment. - Save some money in the bank. This shows how well you manage your finances. **Low interest car loans** are not out of reach especially if you prepare for it. If you need assistance, you can seek the help of a [finance broker](https://www.1800approved.com.au/) and they can help you through the process. One of the good things of working with a broker is that you benefit from their expertise and most are partnered with many lenders so you get to compare quotes. ---- If you're looking at upgrading your much-loved vehicle, express your style and finance one of Australia's best looking cars at one of the lowest interest rates on the market today. 1800Approved is a multi-award winning [finance broker](https://www.1800approved.com.au/), We Work for you, not your Bank! We have helped tens of thousands own their dream car, motorcycle, boat, jet ski or caravan. With one enquiry only, we can check your personal suitability for credit by comparing more than 40 lenders on your behalf. Through our nationwide network, we can also find you the exact used vehicle you've been searching for. Let us help you find the [best car finance deal in Australia](https://www.1800approved.com.au/car-loans/) today. Call us on 1800 277 768 or [apply on-line](https://www.1800approved.com.au/car-loans). Obligation-free.   Topics: [Car Loans](https://www.1800approved.com.au/blog/topic/car-loans) [![1800Approved_dark](https://www.1800approved.com.au/hubfs/Logos/1800Approved_dark.png "1800Approved_dark")](https://www.1800approved.com.au/new) #### join our newsletter Keep up with the latest tips #### Financial Services #### Company #### Resources 2008-2026 © Ausloans Pty Ltd Australian Credit Licence # 383 999 - [**](https://twitter.com/1800Approved) - [**](https://www.youtube.com/user/1800approved) - [**](https://www.facebook.com/1800Approved) - [**](https://www.linkedin.com/company/1800approved-finance-solutions) - [**](https://plus.google.com/+1800approvedAu) ![](https://www.facebook.com/tr?id=2099318183729557&ev=PageView&noscript=1) ![](https://www.facebook.com/tr?id=759887617369365&ev=PageView&noscript=1) ![](https://www.facebook.com/tr?id=122106498438777&ev=PageView&noscript=1) ![](https://bat.bing.com/action/0?ti=5128956&Ver=2) [![ClickCease](https://monitor.clickcease.com/stats/stats.aspx)](https://www.clickcease.com) ```json { "@context" : "http://www.schema.org", "@type" : "FinancialService", "address" : { "@type" : "PostalAddress", "addressCountry" : "Australia", "addressLocality" : "Gold Coast", "addressRegion" : "Queensland", "postOfficeBoxNumber" : "4214", "postalCode" : "4214", "streetAddress" : "33 Ereton Dr. Arundel" }, "aggregateRating" : { "@type" : "aggregateRating", "ratingValue" : "4.6", "reviewCount" : "233" }, "areaServed" : "Queensland, New South Wales, Victoria, South Australia, Tasmania, Australian Capital Territory, Northern Territory, Western Australia, Sydney, Perth, Melbourne, Hobart, Darwin, Brisbane, Adelaide, Gold Coast, Canberra, Newcastle, Wollongong, Logan City, Townsville, Geelong, Sunshine Coast, Cairns and Albury/Wodonga", "award" : "Australian Broking Awards - Asset Finance Broker of the Year 2016", "brand" : { "@type" : "Organization", "name" : "1800Approved Finance Solutions" }, "contactPoint" : { "@type" : "ContactPoint", "contactType" : "customer service", "telephone" : "1800277768" }, "description" : "A leading motor vehicle finance broker in Australia since 2008. 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