How to Get a Car Loan in Australia: Easy Step-by-Step Guide 2025

How to Get a Car Loan in Australia (2025 Guide)

Thinking of buying a car and need finance? Whether you're buying a new or used vehicle, getting a car loan in Australia can be simple — if you know the right steps. This guide walks you through what you need, how to apply, and what to expect.

✅ 1. What Do You Need to Apply for a Car Loan?

Before applying, make sure you have:

1. A valid Australian driver’s licence
2. Proof of income (e.g. 2 recent payslips)
3. Proof of identity (e.g. Medicare card, passport)
4. Optional: details of the car you want to buy

Having all documents ready helps speed up your approval.

✅ 2. What Is a Pre-Approval?

Pre-approval means a lender gives you an estimate of how much you can borrow — before you choose a vehicle.
It helps you:

• Set a clear budget
• Shop with confidence
• Speed up final approval once you've chosen a car

Tip: Most pre-approvals are valid for up to 30 days.

✅ 3. How Long Does It Take to Get Approved?

At CarsFinance.com.au, most approvals are completed within 1 business day, provided your documents are ready. In some cases, approvals can even happen the same day.

✅ 4. Can You Finance a Car from a Dealership or Private Seller?

Yes. We can help you finance:

• New or used cars from licensed dealers
• Used vehicles from private sellers (with additional checks)
• Vehicles purchased online or via auction (conditions apply)

We also provide PPSR checks and ensure the car has a clean history.

✅ 5. Is a Deposit Required?

Many lenders offer car loans with or without a deposit. Providing a deposit can reduce your loan amount and repayments, but it's not always necessary.

✅ 6. How Much Can You Borrow?

Loan amounts typically range from $8,000 to over $100,000, depending on:

1. Your income
2. Your current liabilities
3. The type and value of the vehicle

We work with over 45+ lenders to help find the loan that fits you best.

✅ 7. How Are Repayments Calculated?

Your repayments depend on:

1. Loan amount
2. Interest rate
3. Loan term (usually 3–7 years)
4. Payment frequency (weekly, fortnightly, or monthly)

You can use our Car Loan Calculator to estimate your repayments in seconds.

✅ 8. Why Choose CarsFinance.com.au?

✅ Same-day approvals
✅ No impact on your credit check when applying
✅ Access to 45+ lenders
✅ Personalised support from our expert team
✅ 100% online application process