NOW Finance car loans

NOW Finance is one of Australia’s leading providers of unsecured personal loans. Whether you’re looking to purchase a new or used car or looking to add some upgrades to a vehicle you already own, there’s loans available for you. NOW Finance won 2021, 2022, and 2023 Mozo Experts Choice Awards for their unsecured personal loans, but also offer secured loans for those more expensive cars you may want to purchase. Read the FAQs at the bottom of the page to find out more about the loans available to you.

NOW Finance offers the following car loans

Rates and fees verified as correct at 22 April 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee
Secured Car Loan (Fixed)

6.75% 21.65% p.a.

6.75% 21.65% p.a.based on $30,000
over 5 years


Secured Personal Loan (Fixed)

6.75% 21.65% p.a.

6.75% 21.65% p.a.based on $30,000
over 5 years


NOW Finance car loan FAQs

Does NOW Finance offer secured loans?

Yes, NOW Finance offers both secured and unsecured car loans. 

Does NOW Finance offer fixed and variable rate loans?

NOW Finance offers fixed rate car loans, and not variable rate car loans. 

What's the difference between a fixed rate and variable rate car loan?

With a NOW Finance fixed rate car loan, the interest rate will be set at an agreed rate and will stay at this rate until the end of the loan term. NOW Finance only offers fixed rate loans.

With a variable rate loan, your interest rate can change throughout the loan term. There are pros and cons to each loan type. Find out which option might suit your vehicle-buying needs better at Mozo’s car loan hub.

How much can my car cost to take advantage of this loan?

NOW Finance’s minimum loan amount sits at $5,000 and goes right up to the $50,000 mark for unsecured loans or between $15,000 and $100,000 for secured loans, giving you plenty of room to find a car that suits your lifestyle.

What would car loan repayments with NOW Finance look like?

NOW Finance uses risk-based pricing, so your fixed rate will be based on your credit history, the agreed loan terms, and loan amount. Try a personalised calculation of your own using our car loan repayments calculator.

How frequently can I make NOW Finance loan repayments?

With NOW Finance, you have the option of choosing weekly or fortnightly payments. This way, you can choose a payment frequency that is more suitable for your salary payments.

What do NOW Finance loan terms look like?

NOW Finance offers loan terms for cars between 18 months and 7 years. Work out how much you can comfortably pay back in each payment period, as this will help you determine the term that will work for you.

Can I make extra loan repayments?

Yes, NOW Finance allows you to make extra payments to your loan without charging any additional payment fee or early payout fee, meaning you can pay off your loan as quickly as you’d like.

What happens if I make a late repayment?

Unlike many lenders, NOW Finance won't charge you any late fees should you miss a repayment.

What happens if I miss a repayment? 

If you are struggling with your repayments and experiencing financial hardship, the first thing you should do is speak to your lender as soon as possible. Many providers, including NOW Finance, will have a hardship policy, and they may be able to pause your loan for a period of time or reduce the amount of money you need to pay temporarily. The worst-case scenario could see you default on your loan.

What are the criteria for applying for a car loan with NOW Finance?

To be eligible for a NOW Finance car loan, you must be aged 18 or older, an Australian citizen, have no defaults or active payday loans, be employed, not be currently or previously bankrupt or subject to a court judgement and have acceptable identification. You may be receiving Centrelink payments as a secondary income.

I’m in! How do I apply?

NOW Finance’s loan application process is 100% online.

For a speedy application process, ensure you supply the following:

  • Proof of ID such as your driver’s licence and/or passport number 
  •  Details of residency within Australia 
  •  A list of your assets and liabilities 
  •  Salary figures and employment details 

 Once you’ve applied, expect to hear back from NOW Finance shortly on the outcome. Best of luck, and enjoy your new or used ride!

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