Car Loan Refinance

For a fairer, finance experience

Spend less time filling out forms and more time enjoying that new car smell with a new car loan from Plenti.

Interest rates from

7.49

p.a.

Comparison rate*

8.05

p.a.

Interest rates from

7.49

p.a.

Comparison rate*

8.05

p.a.

We've helped finance over 43,000 new and used cars so our customers can enjoy those new wheel feels sooner.

Features

Simple rates,tailored to you

We take the time to get to know you so we can offer you a better rate based on your good credit history.

Monthly fees

Early repayments

$10k - $100kLoan amounts

3 - 7 yearsLoan terms

24 hoursSettlement

Reviews

A 5-star experience from start to end

Turn your somedays into today with
Australia's most 5-star reviewed personal lender.

2,6545-star reviews

1,5865-star reviews

8065-star reviews

Process

A faster,fairer experience

Tap, swipe, click. Enjoy a completely paperless borrowing experience that’s fast and simple.

1. Get your rate

1 minute, 10 simple questions. It's all we need to estimate the interest rate on your refinance loan.

2. Apply in minutes

3. Settle your loan

4. Funds are ready

FAQS

Car loans, explained

From interest rates to balloon payments, we’ve got the answers you need on all things car loans.

What is a car loan?
How do car loans work?
What types of car loans are there?
How do I compare car loans?
How do I apply for a car loan?

How does a car loan refinance work?

Essentially, we pay out your car loan with your existing financier on your behalf and you will now make monthly direct debit repayments to Plenti.

Your first repayment will be 30 days after you have signed your loan contract with Plenti – though this may differ slightly if the repayment date falls on a weekend or public holiday. Make sure to check out our borrower portal to see your previous and upcoming repayments. You can even make additional payments so you can pay off your loan sooner for no extra cost.

Do I qualify to refinance my car?

To be eligible for a car loan refinance with Plenti, your existing loan needs to have been running for at least 6 months. You will also need to, at a minimum:

Be aged 21 or over
Be an Australian citizen or permanent resident
Be earning over $35,000 per year from a regular source of income that you can demonstrate
Have a clean repayment history and no bankruptcy, court judgment, or unpaid defaults on your credit file
Have a valid Australian driver’s licence

Plenti will consider a loan application if you are self-employed though additional credit assessment criteria and requirements may apply.

Why refinance a car loan

Every customer’s situation is different, but there are generally a few main reasons why you might decide to refinance your existing car loan:

You might refinance a car loan to get a lower interest rate or reduced fees. This may be because your existing financier has increased their rates, or if you have a variable rate loan, you may wish to switch to a fixed rate loan while the rates continue to climb. Refinancing a car loan may help keep your repayment amounts steady and you manage your budget better in the long-term.
You may choose to refinance if your credit score or income has improved and you think you’re eligible for a better rate.
Or, you might now be able to make additional repayments and are looking for a financier that won’t penalise you or charge extra fees for early repayments.
Lastly, you might be refinancing a balloon payment on your existing loan and don’t quite have all the cash on hand to make that payment.

What fees might apply to a Plenti car loan refinance?^

Like any loan, some fees may apply to your Plenti car refinance loan. These may include a credit assistance fee. While this is an establishment fee, it is not payableat the beginning of your loan. Instead, this fee is added to the total amount financed and spread across the life of your loan. It’s then paid back monthly as part of your regular repayment.

A $9.90 monthly account fee is included in Plenti caravan loans. This is built into your monthly repayment.

If you choose to apply through a broker, you may have to pay the broker an agreed-upon origination fee. This is sometimes called an 'Origination Fee' or 'Dealer Origination Fee' (DOF).

You may incur a missed or late payment fee if you miss a monthly direct debit repayment.

If you decide to make additional repayments or pay off your loan early, there’s no need to worry about additional fees. We wouldn't want to reward your hard work with more fees. However, your existing financier might charge you an early exit fee so it’s important to take that into account when deciding if a refinance is right for you.

^ Other fees and charges may apply. Fees listed are correct as at [15] December 2022, and are subject to change at any time.

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