At Spotter we specialise in arranging finance for new and used car loans. In fact, it’s the number 1 reason people contact us!

With so many car loan options available today, it’s easy to make the wrong decision. But fear not! Spotter can help you get the loan you need!

What’s a car loan?

A car loan is a specific type of loan that is linked to the purchase of a new or used car. The loan can only be used for this purpose.

Secure and unsecured car loans

Car loans come in many shapes and sizes. Car loans can be secured or unsecured. A secured car loan means that the loan is linked to the car. In the event you cannot repay the loan, the lender can step in and repossess the vehicle to help pay back your debt. Because the lender can repossess the vehicle, the loan is less risky than the alternative case when the loan cannot repossess the vehicle (an unsecured loan). This means that secured loans often come with lower interest rates than unsecured loans.

Loans for less than $5,000

If you want to borrow less than $5,000, you may have difficulty sourcing a car loan from a bank or other major credit provider. Spotter can help you with a loan like this, typically with a repayment period of between 3 and 12 months.

This type of loan can also be a great option if you have issues with your credit rating and /or have difficulty obtaining credit from other sources.

Loans for more than $5,000

Spotter can you with a loan of up to $10,000. Need to borrow more? No problem! Our parent company Rate Detective Pty Ltd can help you source a loan from a diverse panel of leading lenders including major banks, to help you get the deal you need.

If you choose a secured car loan, you will generally need to have comprehensive insurance for your vehicle. This protects both you and the lender in the event of an accident. The last thing you want is to have an accident, have no vehicle and still be left with a debt to pay.

Car loan lenders

At Spotter we work with a great panel of lenders including:

  • Macquarie Leasing
  • Liberty Financial
  • Now Finance
  • Latitude Financial
  • Money 3
  • Firstmac
  • Pepper Money
  • And more!

This way we can get you the deal that’s right for you.

Car loans and insurance

Whether your car is financed or not, insurance is a smart move. Accidents, theft, fire and vandalism can happen to anyone.

Car loan repayments

Your repayment will vary depending on many factors including the amount you borrow, the value, age and make of your car, and other factors.

Contact us today and we’ll be happy to walk you through your car loan options.

Apply to borrow up to $15,000 now!

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Here’s what a loan might look like

Here’s what a small loan might look like…

You’re after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.

Small Loan Example

Loan Amount
13  X  $110.77  =  $1,440.00
Repayments Per Fortnight Total Payments
Loan length: 26 weeks

In the above example You’ll pay:

  • Loan Amount Financed: $1,000
  • Establishment Fee: $200 (set by NCCP at 20% of the loan amount)
  • Monthly Permitted Fee: $40 per month charged on the anniversary of the loan
  • Amount of Credit of the Loan: $1,240
  • Total Amount of Interest Payable: NIL
  • Total amount of repayments: $1,440.00
  • Nominal Percentage Rate (Interest) per annum: 0% as defined by NCCP

Comparison Rate: 160.0571% as defined by NCCP

Here’s what a medium loan might look like…

You’re after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.

Medium Loan Example

Loan Amount
104 X $43.19 = $4,490.88
Repayments Per Week Total Payments
Loan length: 104 weeks

In the above example You’ll pay:

  • Loan Amount Financed: $2,500
  • Establishment fee: $400 (Set by NCCP)
  • Amount of Credit of the Loan: $2,900
  • Total Amount of Interest Payable: $1,590.86
  • Repayments: 103 x $43.19 + $42.31 (a final payment)
  • Total amount of repayments: $4,490.88
  • Nominal Percentage Rate (Interest) per annum: 48% as defined by NCCP

Comparison Rate: 65.5138% as defined by NCCP

WARNING: This comparison rate is accurate and applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

See our full Fee Statement for fee details.

“These examples are provided for illustrative purposes only. They do not represent an offer from Rate Detective Pty Ltd. A Spotter Loan is subject to the completion of an application, which is subject to responsible lending checks that take your personal needs and financial circumstances into account.”

Warning about Borrowing!

For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.