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Loans for Used Cars up to $75,000
With Money3, you could get your car loan pre-approved1 for up to $75,000. All vehicle types are considered, including second hand or used cars. You may already have found the car you are interested in purchasing, or you may first simply want to know how much you can afford to borrow, before going out to a dealership to test drive the vehicle. Either way, Money3 may be able to help1.
So How Does it Work?
If you already have a used car in mind, either from a dealership, friend or private seller, the first step is to get your loan pre-approved1 by Money3. Getting pre-approval on loans for second hand cars is important as it allows you to know exactly how much you can afford, and you can negotiate the best price for your vehicle with confidence. Your loan pre-approval offer is subject to final approval.
Money3 will consider all types of used vehicles from cars to caravans or even boats!
Benefits of Pre-Approval
If you are concerned about getting your loan pre-approved, Money3 will give you a fair go1. Unlike other lenders and high street banks, we will look at your individual circumstances when reviewing your car finance application, your current financial situation and your ability to repay.
If your current financial situation is not perfect, Money3 may still be able to help. So if you are on Centrelink* or have had bad credit in the past, we'll take a fresh look at your application when considering your loan request.
As a responsible lender, how much you will be able to borrow will be based on how much you can affordably repay within the car loan term.
- Be Over 18 Years Old
- Have Take Home Income or Benefits over $480 a Week1
- Be an Australian Resident
- Get Your Income Paid into Your Bank Account
- Be Employed or Receiving Centrelink payments1
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Securing Your Vehicle
Whether you are browsing websites such as CarSales.com.au or Gumtree.com.au, a private seller or a dealership to find your used car; Money3 can assist in all these situations1. Once you have your loan pre-approval, you can find your vehicle with confidence, agree on a sale price and then let us know the details of the vehicle you'd like to purchase.
- City Cars
- Sedans
- Hatchbacks
- Convertibles
- Compact Cars
- Station Wagons
- Hybrid Cars
- Electric Cars
- Luxury Cars
- Crossover Vehicles
- Coupes
We'll guide you through the process from here, so you can start driving away with your as good as 'new' car.
Why Choose Money3
We'll Give You a Fair Go!
At Money3, we believe in giving everyone a fair go at obtaining car loans. Whether you have a bad credit history, are on Centrelink income, or have been turned away by lenders in the past, we could give you a second chance.
Flexible Loan Terms
The terms of our car loans are flexible to suit your needs. We will thoroughly assess your application to offer personalised car loan terms.
5-Star Customer Service
We focus on delivering responsive, attentive and helpful customer care. The team at Money3 is always happy to guide you through your secured or unsecured loan application, as well as answer any questions you may have.
Quick and Simple Loan Application
Our car loan application experience is quick, straightforward, and stress-free. Our application takes 5 to 10 minutes on average to complete. We also have a fast approval process, so you can start driving your dream car as soon as possible.
A Team You Can Trust
Money3 is a responsible lender you can trust. We offer reliable loans personalised to all our customers’ needs. With high-quality customer service, quick approval processes, and flexible loan terms, you can be confident applying for a car loan with us.
Get in touch with Money3 for quick and easy loans. Learn more about why you should work with us.
1. Subject to verification, suitability and affordability
Example Vehicle Finance Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $1,909 | $6,909 |
| 24 months at 13.95% APR & 34.16% Comparison Rate | ||
| $10,000 | $6,925 | $16,925 |
| 48 months at 13.95% APR & 29.11% Comparison Rate | ||
| $25,000 | $14,850 | $39,850 |
| 60 months at 13.95% APR & 20.38% Comparison Rate | ||
| $50,000 | $30,285 | $80,285 |
| 72 months at 13.95% APR & 17.23% Comparison Rate | ||
| $75,000 | $42,219 | $117,219 |
| 72 months at 13.95% APR & 16.15% Comparison Rate | ||
EXAMPLE: A platinum secured personal loan of $5,000 for 24 months has fees and charges totalling $1,909.35 and a total repayment of $6,909.35. The Minimum loan term is 24 months and the Maximum term 24 months. The loan term will be 24 months, 52 fortnights or 104 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 34.16%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,850.43 and a total repayment of $39,850.43. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 13.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 20.38%.
WARNING: This comparison rate 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.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Other Loans We Offer
Vehicle Finance
Get a second chance at vehicle finance. Our vehicle loans up to $75,000. We offer finance options for a wide range of vehicles, such as cars, campervans, vans, motorbikes, trailers, and boats.
Car Finance
Affordable car loans, based on your financial situation and needs. Obtain finance and drive your new car as soon as possible with Money3.
Centrelink Friendly Car Loans*
You may apply for a car loan with us, even if you are on Centrelink benefits*. At Money3, we believe in giving everyone a fair go, including those who receive Centrelink income.
Single Parent Car Loans
If you are a single parent on a pension or sole parenting payment, you may be eligible for our single parent car loans. Apply for finance with Money3 and purchase a car to drive your kids around.
Pensioner Car Loans
If you’re receiving a pension (aged pension, disability support pension or carers payment pension), you may be eligible for a car loan with Money3.
Bad Credit Car Loans
If you've had bad credit problems in the past, you could still get approved with Money3. We look at your overall financial situation and the affordability of the loan.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Used Car FAQs
A used car loan is a personal loan, usually secured against the car you are purchasing. As the car has already been used (or pre-owned) it will have some kilometres on the clock, some wear and tear and should be cheaper to buy, than a new car.
Advantages of buying a used car
- Cheaper than buying a new car
- Slower depreciation in value if you choose to sell it later
- Some used but 'near new cars' may be covered by a manufacturer's warranty
Disadvantages of buying a used car
- More risk involved, depending on the warranty
- Older cars may require more maintenance and repairs
- Loan interest rates are usually higher
- No warranty if buying from a private seller
Also check out some tips on buying a used car.
We can't help you find your vehicle, but when you have a confirmed loan offer from us1, you will know how much you could spend on a car or other vehicle. This will put you in a better position when checking out suitable vehicles online or with your local dealerships.
Yes, we do. Whatever the vehicle, from used motorbikes to used motorhomes, Money3 could help1.
No, that's not necessary. Dealerships, private sellers, online or other sellers are considered. However, the advantage you get with a dealership is that you may get a statutory warranty of between 1 month (or 1,000km) and 3 months (or 5,000 km) depending on the state you live, the vehicle's odometer reading and the age of the vehicle. Please check your state rules for further details.
Yes, you can, but you don't have to. Sometimes it is better to know how much you can borrow, before looking at second hand vehicles. If you already have a vehicle in mind, that is OK too. We will work with you to get the loan assessed as soon as possible.
Also take a look at our article on the pros and cons of selling your car vs trading in your car with the dealer.
Yes, we do1. Money3 is not affiliated with, or endorsed by, Services Australia. However, we do offer used car loans to customers receiving Centrelink payments. We look at your income as a whole, whether from Centrelink, employment or both. As long as your income is over $480 a week, we will consider your application.
Yes, you can1. We'll review your current situation and ability to manage your car loan repayments when evaluating how much credit you can safely manage.
See our car loans with bad credit page to learn more.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
