Product | Interest rate from | Comparison rate from | Upfront fee |
---|---|---|---|
Secured Car Loan (Fixed) |
6.75% p.a.to 21.65% p.a. |
6.75% p.a.to 21.65% p.a.based on $30,000 |
$0.00 |
Secured Personal Loan (Fixed) |
6.75% p.a.to 21.65% p.a. |
6.75% p.a.to 21.65% p.a.based on $30,000 |
$0.00 |
Yes, NOW Finance offers both secured and unsecured car loans.
NOW Finance offers fixed rate car loans, and not variable rate car loans.
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.
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.
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.
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.
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.
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.
Unlike many lenders, NOW Finance won't charge you any late fees should you 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.
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.
NOW Finance’s loan application process is 100% online.
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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