Buying your first car

Get started

Budget

Your budget will have an impact on how much you are able to borrow to buy your first car. Not only will your budget help you to save more, but it will also be a great way to prove your ability to save money and make repayments. Your budget should help you make regular savings deposits. A solid track record of employment and a history of regular savings can make it easier for you to get a car loan.

Research

Research the type of car you are interested in buying and compare costs between different makes and models. You might like to consider buying a second hand car, as opposed to a new car to help keep the cost down. Take a look through our useful tools to help you understand more about purchasing and running your first car.

Tip: to get a loan approved you will need to meet the loan criteria. As well as being 18 years or older, you'll need to provide information such as proof of income, other loan statements, and your expenses. See our Application Checklist for more.

To do’s

  • Review your current budget and research
  • Use our car loan calculator
  • Work out a budget
  • Apply or a loan pre-approval
  • Go shopping 
  • Apply for personal loan and insurances
  • Get moving
Useful tools

Happy with new car at beach
How much can I borrow to buy a car?
How much money you can borrow to buy a car depends on a number of things. Here's a list to consider before applying for a car loan.
Learn more
Useful products

Which product: New vs. used

Our Car Loan can be used for either new or used vehicles. However, if you are looking at purchasing a vehicle over 7 years old you will be better off looking to apply for a Personal Loan. 

Compare personal loans
View the interest rates and features of our personal loans and car loan in one place, and compare our personal loans to decide which one may suit you.
Learn more
Tip: speed up and simplify your personal loan application with our Application Checklist.