New car loans to get you on the road.

With a new car loan, a lender provides finance toward the purchase price of the vehicle and you repay the loan over an agreed term.

Repayments may be weekly, fortnightly or monthly depending on the lender, and the loan may have a fixed or variable interest rate.

Some loans may also allow a deposit, trade-in or balloon payment to change the amount borrowed or the regular repayment amount.

Most new car loans are secured, meaning the vehicle being purchased is used as security for the finance.

Secured car loans can often provide access to different rates and loan terms because the lender has security over the vehicle.

Unsecured finance may also be available in some situations, but the available rates, loan amounts and lender requirements can differ.

Lenders commonly assess your income, employment, living expenses, existing financial commitments, credit history and ability to meet the proposed repayments.

They may also consider the purchase price, type of vehicle, deposit or trade-in and the total amount you want to borrow.

Each lender has its own credit criteria, so the amount, rate and loan term available can vary between lenders.

The documents required depend on the lender and your employment and financial circumstances.

You may be asked for identification, proof of income, employment details, information about existing financial commitments and recent bank statements.

If you have already chosen your new vehicle, a dealership invoice, purchase contract or vehicle quote may also be required.

Yes, depending on the lender, you may be able to organise car loan pre-approval before you have selected the exact vehicle.

Pre-approval can give you a clearer indication of your potential borrowing limit and help you shop for vehicles within an appropriate price range.

Final approval will usually remain subject to lender conditions and acceptance of the vehicle you ultimately choose.

Some lenders allow a balloon payment, which is a larger amount left to be paid at the end of the car loan term.

A balloon can reduce regular repayments during the loan, but it also means you will still owe the agreed balloon amount at the end of the term.

Whether a balloon is available and what amount can be used depends on the lender, vehicle and loan structure.

Yes. A cash deposit or the value of an eligible trade-in can be used to reduce the amount you need to finance.

Borrowing less may reduce your regular repayments and the total interest payable over the life of the loan.

The way a trade-in or deposit is treated will depend on the dealership transaction and the lender's requirements.

Comparing options can help you understand how dealership finance compares with loans available from other lenders.

Look beyond the advertised interest rate and compare the loan term, fees, comparison rate, repayment structure, balloon payment and total amount repayable.

Forge Finance can compare car loan options across its lender panel before you decide which finance structure suits you.

Yes. New hybrid and electric vehicles can generally be financed through car loan products, subject to lender criteria.

Some lenders may have specific loan products or pricing for eligible low-emission vehicles, while others assess them under their standard new car lending criteria.

Available options will depend on the vehicle, loan amount and your financial circumstances.