A car loan is a type of personal loan used to buy a new or used vehicle including sedans, SUVs, utes and sports cars. When you take out a car loan, you borrow an agreed amount of money (loan amount) from a financier (lender) for a set period of time (loan term). You will repay the amount borrowed in either weekly, fortnightly or monthly increments. These repayments will be calculated based on the amount borrowed, the interest charged, and any extra fees or charges.  Your interest is determined by the lender based on a number of factors including their lending criteria and your credit profile. The advantage of using our service is that we have access to more than 40 different lenders, so we can find the right one for you.