Consumer finance
Compare suitable car loans with a broker before choosing your next vehicle. Get help with new, used and eligible private-sale purchases, costs and next steps.
Updated 21 October 2026
You can explore a car loan before choosing the exact vehicle. Start with a budget and use the conversation to understand what still needs checking.
Meet Kevin, your RateSmart brokerYes. Comparing finance before shopping can help you set a realistic price range. A repayment estimate is a starting point; it does not establish what a lender will approve. If conditional approval is available, ask what remains outstanding and when it expires before relying on it for a purchase.
Some lenders consider private sales, but vehicle age, kilometres and condition can affect which lenders will consider the car. Tell the broker that the seller is a private individual. Ask which vehicle, seller and payment checks are needed, especially if finance is already owing. A conversation about your budget does not clear the vehicle for settlement.
Use the car's VIN for an official PPSR search on the day of purchase or the day before, and keep the certificate. The result can show registered security interests and available stolen or written-off records; it is not a mechanical inspection. If money is owing, ask how the existing lender will be paid and its security interest released before completing the purchase.
Self-employed applicants can enquire, but having an ABN does not establish eligibility or approval. Explain how long you have traded, how you earn your income and whether the car is mainly for personal or business use. A broker can then discuss the relevant loan options and evidence a lender may require.
Have your recent tax returns, ATO notices of assessment and relevant business financial statements available. Requirements differ by lender; ask which documents and periods apply before gathering or sending sensitive records. If you do not have current tax returns, explain that upfront rather than assuming a no-document loan is available.
It depends on your circumstances and the lender. Your credit history, income, expenses and existing debts all matter; a car offered as security does not guarantee approval. Explain any missed payments or recent declines before applying. Check the full cost and whether repayments fit your budget, not just whether a loan is available.
Yes. RateSmart's enquiry form starts a conversation; it does not submit a lender application or run a credit check. Tell us your budget, income situation and what concerns you. Before proceeding with an application, ask which lender is being approached, what credit checks are proposed and what consent is required. Do not send identity documents through the initial enquiry form.
Verna described having the process explained for a first car loan. Afrolea described help through a car purchase. These are excerpts from their public Google reviews, not examples of particular rates, credit histories or guaranteed results.
“Everything was explained thoroughly ... it’s my first car loan”
“Helping me through the process of purchasing my new car.”
Request both offers in writing for the same amount and term. Compare the comparison rate, fees and total repayments, and check whether either offer leaves a balloon payment. Keep the vehicle price separate from the finance discussion: a lower monthly repayment alone does not establish a cheaper purchase. Include registration, insurance and running costs in your budget.
Compare costs and conditions
Compare repayments, fees, conditions and any final payment together. An estimate is not a lender quote or approval.
Interest rate and comparison rate
Establishment, monthly and broker-related fees
Balloon or residual amount and the final repayment
Early payout conditions and flexibility to make extra repayments
Start without uploads. If you continue, a broker will explain which documents are relevant.
Common questions
There is no single amount for every applicant. Income, regular expenses, existing debts, deposit and the proposed vehicle all matter. A repayment estimate shows the cost of an amount you enter; it does not assess borrowing capacity. Share your budget with a broker to understand what a lender would need to check.
Yes. Use the repayment estimator for an indicative figure, then ask a broker about lender-specific pricing and fees.
Speak with a broker
Start online or call RateSmart. A broker will confirm the request and discuss suitable options. Submitting an enquiry does not lodge a credit application.
