Services > Car Loans
CAR loans
Car Loans Tailored to Get You on the Road Faster
Whether it’s your first car, a family upgrade, or refinancing an existing loan, we’re here to help you secure the best rates and loan terms that suit your unique needs.
With personalised advice, a wide range of lenders, and a fast, hassle-free approval process, getting behind the wheel of your dream car is closer than you think.
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Why Choose Car Loans from Prosper
Prosper Loan Experts provide flexible car loans designed to suit your individual financial needs and help you get on the road faster. Whether you’re buying your first car, upgrading, or refinancing, our competitive rates and quick approvals make borrowing simple and stress-free.
Loan amount
$5,000 - $150,000
Secured interest rate
5% - 12%
Unsecured interest rate
10% - 20%
Loan terms
1 - 7 years
Rate type
Fixed or Variable
Average turnaround
1 - 5 business days
Establishment fee
$100 - $500
Repayment frequency
Weekly, fortnightly, or monthly
Documents Needed to Apply for a Car Loan
To make your car loan application smooth and efficient, please have the following documents ready:
Identification Documents
Valid passport, driver’s license, or Medicare card to verify your identity.
Proof of Income
Recent payslips from the last 60 days. For self-employed applicants, provide tax returns or financial statements.
Business car Loan
Bank statements (3-6 months).
Tax returns (business and personal, 2 years in some cases).
Council rates notice (if applicants are property owner).
Bank Statements
Statements covering the past 3 to 6 months of your transaction history.
Vehicle Purchase Documentation
Invoices, quotes, or purchase agreements related to the vehicle you plan to finance.
Proof of Address
Recent utility bills or rental agreements confirming your current residential address.
Note: Our team will support you throughout the document preparation to ensure your car loan application is hassle-free and fast.
Car Loan Interest Rates
Transparent rates tailored to your financial needs.
Our car loan interest rates are designed to give you flexibility and peace of mind. Secured loans typically range from 5% – 12%, while unsecured loans may vary between 10% – 20% depending on your credit profile and loan terms.
With access to a wide panel of lenders across Australia, we help you secure the most competitive rate available. Choose between fixed or variable options to match your budget and goals.
No Compromise, Just Maximize.
Getting a Car Loan
Consultation
Speak to our specialists to explore your options.
Fact Find
We review your financials to find the best loan for your needs.
Fast Approval
Enjoy a quick approval process so you can get on the road.
Easy Repayments
Flexible payment options make managing your loan simple.
How It Works
A simple process to get your car loan approved quickly.
Apply Online
Fill out our quick application form with your details. No hidden paperwork, no lengthy delays.
Get Matched
We compare a wide panel of lenders to find the most competitive rate tailored to your needs.
Approval & Offer
Receive a loan offer with clear terms. Choose between secured or unsecured, fixed or variable rates.
Drive Away
Accept your offer, finalise paperwork, and drive away with your new car — hassle-free.
READY TO GIVE US A TRY?
Ready to drive away?
Our team is ready to assist you. Contact us today and start your car loan journey!
Frequently Asked Questions
What is a car loan?
A car loan is a type of personal loan used to finance the purchase of a new or used vehicle. It can be secured against the car or unsecured depending on the lender and your financial situation. Learn more about our [personal loans](https://prosperloan.com.au/personal-loans) and how they can be tailored for vehicle financing.
What types of car loans are available?
You can choose between secured car loans, which use your vehicle as collateral, or unsecured loans that don’t require security. Each option offers different interest rates and terms to suit your needs. Check out our [bad credit loans](https://prosperloan.com.au/bad-credit-loans) page if you have credit concerns.
How does a secured car loan differ from an unsecured car loan?
A secured loan requires the vehicle as collateral, often leading to lower interest rates, while unsecured loans don’t require security but usually have higher rates. Learn about the benefits of secured financing on our [business loans](https://prosperloan.com.au/business-loans) page.
How do I qualify for a car loan in Australia?
Lenders consider your income, credit history, employment status, and existing debts. Even if your credit isn’t perfect, Prosper Loan Experts can help find lenders suited to your profile. For personalised advice, visit our [contact page](https://prosperloan.com.au/contact-us).
What documents do I need to apply for a car loan?
Typically, you’ll need valid ID, proof of income, bank statements, and details about the vehicle. We provide a personalised checklist to help you prepare efficiently.
Can I get a car loan with bad credit?
Yes, some lenders specialise in loans for applicants with bad credit. Prosper Loan Experts connect you with these lenders. Explore your options on our [bad credit loans](https://prosperloan.com.au/bad-credit-loans) page.
How long does it take to get approved for a car loan?
Approval times can range from a few hours to several days depending on the lender and how quickly you provide all necessary documentation.
What interest rates can I expect on a car loan?
Interest rates vary based on loan type, credit profile, and lender policies. Secured loans usually offer lower rates than unsecured ones. To understand rates better, see our [personal loans interest rates](https://prosperloan.com.au/personal-loans#interest-rates) information.
Can I use a car loan to buy a new or used vehicle?
Yes, car loans can be used for both new and used cars, providing flexibility in your purchase.
What fees are involved with car loans?
Common fees include establishment fees, monthly account-keeping fees, and possible early repayment fees. We provide transparent fee information to help you make an informed decision.
Should I apply for a car loan directly or use a broker?
Using a broker gives you access to multiple lenders and personalised advice. Prosper Loan Experts simplify the application process and negotiate the best deals. Contact us through our [contact page](https://prosperloan.com.au/contact-us) to get started.
What is the difference between fixed and variable interest rates on car loans?
Fixed rates remain the same for a set period, offering predictable repayments, while variable rates can change with market conditions. Our experts help you choose the option that best suits your financial goals.
What Our Clients Say About Prosper Loan Experts
Real stories from satisfied clients who found the perfect loan solutions with our help.
George Owens
The team at Prosper made my home-buying process so much easier. They listened to my needs and found the perfect loan for my situation. Their support and guidance were invaluable every step of the way.
Max Tanner
I was overwhelmed with refinancing options, but Prosper expert took the time to explain everything clearly. They helped me secure a better rate, saving me thousands. I couldn't be happier with their service.
Shraddha Adhikari
Got right consultation and advice regarding our loan processing for business. The other best part is that it was swift and easy, got everything settled within couple days. Great service…would highly recommend.
Romina Shrestha
My husband & I were dealing directly with Bala ji for our Commercial loan. Not only did he make the process seamless & easy to understand, he also help us feel comfortable with any next steps. I would highly recommend Bala ji for anyone who is looking for home loan. Thank you once again for your amazing service.
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We are a top-rated mortgage and finance broker in Australia, trusted by individuals and businesses for expert support in home loans, car loans, investment loans, refinancing, private lending, and more.
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Prosper Loan Experts Pty Ltd ABN: 93 676 188 211. Credit Representative #527574 is authorised under Australian Credit License #384704.
Disclaimer: Your full financial situation and requirements need to be considered prior to any offer and acceptance of a loan product. The information contained in this website is of a general nature and does not take into account your personal needs and requirements. The figures shown in the calculators do not constitute an offer for finance. Lender policy and conditions, fees and charges will apply. The information provided by the calculator is intended to provide illustrative examples based on the stated assumptions of your input. Results are a guide only and do not constitute financial advice or a guarantee of an outcome. You should always discuss your individual circumstances with a representative of Prosper Loan Experts Pty Ltd T/A Prosper Home Loans.
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