Is a small vehicle planned for your next car purchase? If so, you’ve come to the right place.
According to Best Small Car of Carsales 2021 list, Mazda3 has been named the best small car option for Australian consumers right now.
Based on a number of categories such as safety, technology, comfort and convenience, driving performance and cost of ownership, there were nine winners in total this year.
The 2021 car sales list is as follows:
- volkswagen golf
- Kia Cerato
- Skoda Scala
- Toyota Corolla
- Ford Focus
- Subaru Impreza
So what are my loan options for financing a small car?
In the aforementioned list, prices range between $25,590 and $41,790, according to Carsales. So when it comes to financing one of these premium vehicles, it’s important to know exactly how much it costs so you can borrow accordingly.
It’s also crucial to do your homework when selecting the right loan for you. You need to consider things like interest rates, fees, loan terms, loan amounts, and repayment terms.
You do not know where to start ? This is where we come in.
We’ve rounded up a few small vehicle car loans that might be just what you need to get your hands on the keys. Read on and find out more or find a low interest car loan.
Wisr secured car loan
- Borrow amounts from $5,000 to $64,000
- Fixed rates from 4.74% per annum (comparative rate of 5.01% per annum*)
- Flexible repayment options
Wisr’s Secured Auto Loan offers a range of loan amounts and terms, competitive rates and flexible repayment options. Borrowers can take out a loan between $5,000 and $64,000 to cover the cost of a small car and pay it off over three to seven years. Based on a customer’s credit rating, Wisr offers fixed rates that start at a low 4.74% per annum (comparator rate of 5.01% per annum*). Borrowers can choose between weekly, fortnightly or monthly repayments, as well as additional repayments (no withdrawals allowed). And for customers who pay off their balance early, the good news is that there is no prepayment penalty. There are also no ongoing service fees attached to this loan, but there is an initial application fee of $195 to budget for.
SocietyOne Auto Loan – Great Credit
- Borrow amounts from $5,000 to $50,000
- Fixed rates from 5.95% pa (5.95% pa comparison rate*)
- Additional refunds allowed
Looking to finance a small car with the perfect loan? Do you also have an excellent credit score? Say hello to SocietyOne car loan. With this loan, SocietyOne offers a risk-based pricing model, with fixed rates starting at 5.95% per annum (comparator rate 5.95% per annum*) based on the customer’s credit score. Loan amounts range from $5,000 to $50,000 and loan terms are between two and five years. SocietyOne allows customers to make fortnightly or monthly repayments, and also offers them the option of making additional repayments without fear of being charged a prepayment penalty. It should be noted though that there is no redraw feature attached to this product. Also be aware that there is an initial application fee of up to $595, depending on the customer’s credit history. There is no ongoing service charge.
Car loan OurMoneyMarket
- Borrow amounts from $2,000 to $75,000
- Fixed rate of 5.35% per annum (comparative rate of 5.65% per annum*)
- Flexible repayment schedule
Choosing the right car loan to finance a small vehicle is crucial. OurMoneyMarket’s car loan could be a great choice, as it offers a low fixed rate, a range of loan amounts, and flexibility with repayments. This loan not only offers a low fixed rate of 5.35% per annum (comparison rate of 5.65% per annum*), but there are also no ongoing or anticipated repayment charges to worry about. OurMoneyMarket offers loans between $2,000 and $75,000, and loan terms between one and seven years. When it comes to repayments, you have the choice of a weekly, biweekly, or monthly repayment schedule and the ability to make additional repayments. Keep in mind though that no withdrawals are allowed on this loan and there is an initial application cost of $250.
If you’re not sure if these options are right for you, just go to our auto loan comparison center to find other top auto loan products.
Mozo provides general product information. We do not take into account your personal goals, financial situation or needs and we do not recommend any particular product. You must make your own decision after reading the PDS or offer documentation, or after seeking independent advice.
Although we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you decide to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.