Refinance your car loan and save

You could save thousands* by switching to our award-winning low rate car loan from 5.29% p.a. (comparison rate 5.84% p.a.)** for cars up to $100,000

car loan refinance
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Could you be saving more on your car loan?

Feel like you’re paying more for your car than you should be? You probably are. Compare how Plenti’s award-winning low rate car loan could save you compared to the big banks.***

Brand
Interest Rate (p.a.)
Comparison Rate (p.a.)
Upfront Fees
Monthly Fees
Repayments
Plenti (Refinance)
Plenti Car Loan (Fixed Rate)

Interest Rate (p.a.)

from 5.29% (fixed)

Comparison Rate (p.a.)

Info

Upfront Fees

from $249

Monthly Fees

$0

Repayments

$0 per month
ANZ
ANZ Car Loan (Fixed)

Interest Rate (p.a.)

from 10.50% (fixed)

Comparison Rate (p.a.)

Info

Upfront Fees

$150

Monthly Fees

$10

Repayments

$0 per month
Commbank
Commbank Car Loan (Fixed Rate)

Interest Rate (p.a.)

from 6.99% (fixed)

Comparison Rate (p.a.)

Info

Upfront Fees

from $250

Monthly Fees

$10

Repayments

$0 per month
NAB
NAB Car Loan (Fixed Rate)

Interest Rate (p.a.)

from 12.69% (fixed)

Comparison Rate (p.a.)

Info

Upfront Fees

from $150

Monthly Fees

$10

Repayments

$0 per month
Westpac
Westpac Car Loan (Fixed Rate)

Interest Rate (p.a.)

from 7.49% (fixed)

Comparison Rate (p.a.)

Info

Upfront Fees

from $250

Monthly Fees

$12

Repayments

$0 per month

Comparison rates for loans under 3 years are based on an unsecured personal loan of $10,000 over 36 months. Comparison rates for loans 4 years and above are based on an unsecured personal loan of $30,000 over 60 months.

Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

***Plenti’s interest rate is based on a homeowner with an excellent credit history using rates and fees applicable as at 3pm, 14 October 2020. All other car loan interest rates and fees displayed are as advertised by the respective lender on their website as at 25 February 2020 and may include short-term promotional offers. Comparison rates are calculated by Plenti. The actual product, rate, fees and charges you might be eligible for may be different based on your loan term, loan amount and credit characteristics.

FEATURES & BENEFITS

A car loan that’s made for refinancing.

Low personalised rates. Low rate car loans from 5.29% to 9.99% p.a. (comparison rate 5.84% to 10.56% p.a.) based on your good credit.

Flexible loan terms. Refinance between $10,000 and $100,000 for 3, 5 or 7 years. Cars up to 7 years old and a maximum loan-to-value ratio of 120%.

Award-winning car loans. Borrow with confidence knowing you’re with Canstar’s Outstanding Value Award winner for new and used cars for 2019.

No monthly or early repayment fees. We’ve eliminated unnecessary fees help you save more and pay off your loan faster. Because nobody has ever said ‘yes please’ to fees.

Refinance your car in 4 simple steps

Get your personalised rate

Get your quote

Discover your personalised interest rate in just 1 minute. It’s fast, simple and won’t have any impact on your credit score.

Apply for a personal loan

Apply in minutes

Apply in 10 minutes. Make sure you have your driver’s license, bank details and existing loan documents handy.

Get your personal loan funds

Verify your vehicle

Once approved you will need to verify your vehicle ownership and condition with our simple online settlement process.

Finalise your loan

Once settlement is finalised and you accept your loan, funds will be transferred to pay out your current lender.

You’ve got questions we’ve got answers.

What type of car can I refinance?

You can refinance any used car provided it is under 7 years old. The car will also need to meet our Loan to Value Ratio (LVR) and credit criteria requirements.

How much does refinancing cost?

If you’re considering refinancing your car loan, you may be unsure of how much it will cost. Most car loans comprise of three main factors that impact the total cost over the life of the loan:

  • the interest rate (this may be fixed or variable)
  • a one-time establishment fee
  • ongoing fees (such as account maintenance fees, late payment fees, and other charges)

These costs are often combined to create a comparison rate that represents the total price of a loan. This allows you to compare loans to find the one that best suits your needs as well as your existing loan.

For an overview of fees and charges (including interest rates) associated with Plenti’s car loans, see the table below:

Secured Car Loans: Car Loan Rates, Fees and Charges
Term3 Year5 Year7 Year
Loan Type3 year (fixed)5 year (fixed)7 year (fixed)
Interest Ratefrom 5.29% p.a.from 5.29% p.a.from 5.29% p.a.
Comparison Rate*from 5.84% p.a.from 5.84% p.a.from 5.84% p.a.
Credit Assistance Feefrom $249 from $249from $249
Monthly Fees$0$0$0
Early Repayment Fees$0$0$0

Am I eligible to refinance my car loan?

Save time before applying by making sure: 

  • You are aged 21 or over
  • You are an Australian citizen or permanent resident
  • You have a regular source of income that you can demonstrate
  • You have a good credit history
  • You are on at least a provisional driver or full driver’s licence
  • The existing vehicle you are looking to refinance is less than 7 years

To see if you may qualify for a Plenti car loan, you can get a quote, it only takes 1 minute and won’t affect your credit score. If you request a RateEstimate, we will ask you a few questions so we can calculate an initial estimate of your borrowing potential, and the rates, fees and charges that may apply to your loan.

What do I need to apply?

To apply to refinance your existing car loan, you will need to complete our identity verification process successfully. To complete identity verification you will need to provide one or more of the following documents:

  • Australian State or Territory-issued drivers licence
  • Australian or foreign passport
  • Address verification document such as a utility bill or tenancy agreement

These details can either be entered on our website during the application process and automatically verified online or you can upload as part of the application process.

You will also need to provide the following to verify your existing loan and car condition:

  • Current loan statement showing the last 12 months of transactions
  • Loan payout letter from your existing lender
  • Complete Verimoto vehicle condition verification (completed via mobile app)

When assessing your application, we are looking for evidence of how suitable a loan is to your current circumstances. Among other things, we’ll assess your:

  • Employment stability;
  • Income;
  • Expenses;
  • Repayment history;
  • Credit bureau information; and
  • Other details you communicate to us.

You will also be asked to verify your income and expenses and may be asked to provide supporting documentation such as bank statement information or payslips. The documents you will need to provide will be displayed to you during the application process.

**Comparison rates are based on a secured car loan of $30,000 over 60 months. Rates shown assume a customer with an excellent credit history and are current as at 3pm, 14 October 2020. Plenti credit criteria and terms and conditions apply. Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Representative Example: Based on a car loan of $30,000 over 60 months a homeowner with an excellent credit history can expect to pay a total of $34,492. This represents a comparison rate of 5.84% p.a. and includes all interest and fees included in your loan repayments over the life of the loan. Plenti car loans are available from 3 years to 7 years. Car loan interest rates range from 5.29% p.a. (comparison rate 5.84% p.a.) to 9.99% p.a. (comparison rate 10.56% p.a.).