Drive Your Dream Car with Confidence
When you're ready to make your dream car a reality, AFS is here to help with a fixed-rate loan. Whether you're buying a new or used car from a dealer, at auction, or from a friend, we'll make the process quick and easy. Already found the perfect car? Start your application online now.
If you're still browsing, we can arrange a pre-approved loan1, so you can shop with confidence. With AFS, you're in good hands with our car finance experts!
1. All loans are subject to verification, suitability and affordability.
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Why Choose AFS for Your Next Car Loan
- Get fixed rates from 8.19% pa*, Comparison Rate 11.37% pa^
- Fixed interest rate for the life of the loan
- Borrow between $5,000 and $130,000
- Choose your term from one to five years
- No age restriction on the car you want to purchase
- You choose to buy your car from a dealer, an auction house or a private vendor
Clear and Transparent Features, Terms, and Charges
Get the Car You Want with Experts You Can Trust
Wherever you are on your journey, we're here to support you.
Example New Car Loan Cost Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,343 | $6,343 |
| 24 months at 7.99% APR & 23.98% Comparison Rate | ||
| $10,000 | $2,398 | $12,398 |
| 36 months at 7.99% APR & 14.53% Comparison Rate | ||
| $25,000 | $6,931 | $31,931 |
| 60 months at 7.99% APR & 10.08% Comparison Rate | ||
| $50,000 | $15,720 | $65,720 |
| 72 months at 8.49% APR & 9.46% Comparison Rate | ||
| $75,000 | $22,713 | $97,713 |
| 72 months at 8.49% APR & 9.14% Comparison Rate | ||
| $130,000 | $44,821 | $174,821 |
| 84 months at 8.49% APR & 8.84% Comparison Rate | ||
EXAMPLE: A secured car loan of $50,000 for 72 months has fees and charges totalling $15,720 and a total repayment of $65,720. The Minimum loan term is 24 months and the Maximum term 72 months. The loan term will be 72 months, 144 fortnights or 312 weeks. The Maximum APR is 8.49%. The Comparison Rate, based on a loan of $75,000 over six years, is 9.46%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 383 762.
Frequently Asked Questions (FAQs)
A car loan gives you a lump sum of money to buy a car (or even a boat!). You'll own the vehicle and make monthly payments on the loan, which includes a fixed interest rate and, in some cases, additional fees.
A secured car loan uses the car you're buying as security for the loan. AFS offers a variety of car loans tailored to meet different borrowers' needs*.
The main advantage of a car loan is that it allows you to buy a car without paying the full amount upfront. Many people don't have the savings to cover the entire cost of a car or may prefer to allocate their savings elsewhere. Additionally, if you need a car quickly, you won't have to wait until you've saved up the entire amount.
A balloon payment, also referred to as a residual payment, is a lump sum due at the end of a car loan term to complete the contract. The advantage of this is that it lowers your monthly repayments throughout the loan term. However, it means you'll pay more interest over time, and you'll need to prepare for the final balloon payment. Contact an AFS consultant today to learn more about balloon payments.
Car loans are secured, meaning the vehicle serves as security for the loan. This lowers the lender's risk and may qualify you for a lower interest rate. In contrast, personal loans can be unsecured, which might result in a higher interest rate but offer more flexibility with how you use the funds. When choosing between a car loan and a personal loan, it's essential to determine which option best fits your needs. An AFS consultant can assist you in making the right decision.
Once you've submitted your loan application, approval is conditional pending credit checks and verification of the information you have supplied. Approval is usually obtained within 48 hours, subject to satisfactory credit checks and verification of financial information. Your Loan Account Manager can provide more information about documenting your loan and the settlement process.
To ensure applying online is straight forward, we suggest you gather a few key documents so that you have the information at your fingertips.
Here is a checklist outlining all necessary information you should have at hand before applying.
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Your full name
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Your date of birth
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Your current driver's licence number and expiry date
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If you do not have a current driver's licence, provide details of your passport, including its number, place of issue, and expiry date.
Your Residential Details
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Your current residential details
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If you have not been living at your current address for at least 3 years, the details of your previous address
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If you have a mortgage, or have recently applied for a mortgage, the details of the monthly payments
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If you are renting or boarding, the details of your landlord/real estate agent including Name and Telephone Number.
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Things you should know
1 All loans are subject to affordability, suitability and verification.
* Interest rate (Annual Percentage Rate/APR) is only applicable for new goods that have not been pre-owned, where the amount borrowed is between $35,000 and $130,000 and where the applicant owns or is buying a property and has an established good credit history. Finance subject to approval, including the application lending criteria. Terms and Conditions apply. Fees and Charges are payable. Interest rates vary depending on the applicant's credit score and associated credit risks. Credit provider is Automotive Financial Services Pty Ltd - Australian Credit Licence 383 762.
^ Comparison rate for AFS Loan Contract and Mortgage is calculated on a loan amount of $30,000 secured over a term of 5 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
** Seven year loan terms by request only.
- If you use a licenced finance broker to assist you in applying for credit, there may be other fees and charges payable, such as a finance broker fee or Origination Fee. AFS enables you to finance an Origination Fee as part of the amount of credit up to a maximum value of $990 including GST. An Origination Fee represents the finance broker's fee to provide credit assistance to you. It is a one off fee that is only payable if you proceed with the suggested credit contract. Under the National Credit Code, a Finance Broker is required to give you their Credit Guide, a Credit Quote and, at the same time as providing assistance to you, give you a Credit Proposal Disclosure document which will details all the fees and charges payable and if any commission will be received by the finance broker.
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