Flexible Financing for Used Cars
We know that buying a used car means being mindful of price and ensuring the car is in great shape. You spend hours researching the history and condition of your potential purchase, and the last thing you need is a lender telling you it's not eligible for financing.
At AFS, we're here to help finance any roadworthy used car, regardless of its origin, age, or odometer. Whether it's a used passenger vehicle or a classic sports car, we offer competitive interest rates and flexible loan structures1.
Contact our specialists today to discuss financing options.
1. All loans are subject to verification, suitability and affordability.
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Why Choose AFS for Your Next Used Car Loan
- Get fixed rates from 8.99% pa*, Comparison Rate 12.17% 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
Transparent Overview of Features, Rates, and Fees
Trust Our Experts to Help You Get the Car You Love
At every step of your journey, we’re ready to assist.
Example Used Car Loan Cost Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,391 | $6,391 |
| 24 months at 8.79% APR & 24.78% Comparison Rate | ||
| $10,000 | $2,538 | $12,538 |
| 36 months at 8.79% APR & 15.33% Comparison Rate | ||
| $25,000 | $7,520 | $32,520 |
| 60 months at 8.79% APR & 10.87% Comparison Rate | ||
| $50,000 | $17,162 | $67,162 |
| 72 months at 9.29% APR & 10.26% Comparison Rate | ||
| $75,000 | $24,868 | $99,868 |
| 72 months at 9.29% APR & 9.94% Comparison Rate | ||
| $130,000 | $49,263 | $179,263 |
| 84 months at 9.29% APR & 9.64% 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)
Yes, that's possible1. Unlike the asset finance divisions of most banks and lenders, AFS does not restrict financing based on vehicle model or age. Either directly or through accredited finance brokers, we have financed most of the various vehicle types that Australians look to purchase.
Also check out our vintage and classic car loans.
An independent valuation of many vehicles can be provided by valuation specialists such as Glass's Guide and Redbook.
AFS subscribes to Glass's Guide, which is used by most banks and car dealers across Australia, and we provide access to it on our website—free of charge!
AFS enables you to borrow between $5,000 and $130,000, depending on our assessment of your capacity to repay and current circumstances. Loan terms range between 12 months and 60 months (or longer if you have good credit) and we can even finance your comprehensive insurance so that you know your car will be covered at all times.
No. The same fees and charges apply to a used car loan as they do for a new car loan.
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.
Yes. The AFS Used Car Loan product is used extensively by finance brokers, particularly when it comes to used cars or older vehicles, imported cars and classic cars.
Also, if you were to arrange a loan through your bank, if the vehicle is over 7 years of age then the relevant product is an unsecured personal loan which is often more expensive than their standard car loan product.
Please note that if you use a finance broker you may be charged an origination fee which is separate to the AFS Fees & Charges but, can also be financed as part of your loan. If you use a broker, you should ask for a copy of their credit guide and obtain a credit quote from them.
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, then details of your passport including number, place of issue and expiry date.
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Your residential details, as listed below:
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Your current address
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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 Lcence 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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