Used car loans, Perth Based – Australia wide

Used car loans for the second-hand car you actually want.

One application, the whole panel, and an honest answer before you commit.

One used car loan application reaches our full lender panel. Your broker compares what each lender will do for your vehicle and your situation, then puts the real numbers in front of you before you commit to anything.

Get my free quote
Call (08) 9472 3000

Get your personalised rate

“*” indicates required fields

"*" indicates required fields

privacy*
Getting your rate here will not affect your credit score
This field is hidden when viewing the form

The basics, quickly

What is a used car loan?

A used car loan is a secured loan used to buy a second-hand vehicle. The car acts as security for the lender, which is why used car finance is usually cheaper than an unsecured personal loan for the same amount. You borrow a fixed sum, repay it over an agreed term, and the lender’s interest in the vehicle is released when the loan is paid out.

Second hand car finance works the same way whether you buy from a dealership, a private seller or an auction. What changes between lenders is the vehicle they will accept, the rate they will price it at, and how quickly they can settle. That is the part a broker handles for you, across all of our car loans.

Secured against the car, 
so it costs less than an unsecured loan

The vehicle is the security, so the lender is carrying less risk and the rate sits below an unsecured personal loan for the same amount.

One to seven years 

A shorter term costs less in interest and more each month. It is the input that moves your repayment furthest, so it is the one worth testing first. lender.

The lender prices it, 
not us

Your credit profile and the car decide where on the panel you land, and you see the rate in writing before you agree to anything.

Buy it anywhere, 
from a dealership, a private seller or an auction

The paperwork changes with where you buy, not the loan. Your broker settles all three, and checks the car is free of finance owing before funds move.

Reviewed on Google

What our customers say

Perth based, every one of them

The brokers who will argue your case

We do not lend. A broker advocates for your application, which is the part you cannot do for yourself when you walk into a lender on your own. Every rating below is that broker’s own Google rating as published on the Yes Loans about page.

Goran Babac

General Manager

5.0 (22)

Trent Cray

Sales Manager

5.0 (17)

Ridge Kidd

Finance Broker

5.0 (22)

Trent Hilliam

Finance Broker

5.0 (17)

Cooper Boyd

Finance Broker

5.0 (4)

Stephen Pastorelli

Finance Broker

5.0 (2)

Aidan Daggett

Finance Broker

5.0 (1)

Paddy Knight

Business Development Manager

5.0 (1)

Happy customers

Cars we helped people drive home

Real Yes Loans customers, photographed at handover.

Before you talk to anyone

See what a used car repayment looks like

Move the sliders, set the rate you want to test, and the panel updates. We are a broker, so the rate is yours to nominate rather than ours to quote. It is an estimate, not an offer.

$5,000 $120,000
10% ($2,800)
Nothing down 50%
1 year 7 years
5% 22%

We are a broker, so we do not set this. Lenders do, per file. Move it to whatever you want to test and your broker will come back with the rate a lender will actually write.

Credit profile
The widest part of the panel is open to you, and a secured car is the security lenders compete hardest for. Try the lower end of the rate slider.
Your estimate $418 per month over 7 years
Weekly $96
Amount financed $25,200
Total interest $9,941
Total repaid $35,141

A shorter term costs less in interest and more each month. Your broker will tell you which combination a lender will actually approve.

Check this against real lender offers
Estimate only. Excludes lender and broker fees, government charges and insurance. Not an offer of finance.

Our lender panel

The lenders your one application reaches

The question that stops most applications

Will a lender finance a car this old?

Most lenders judge the car by its age at the end of the loan, not the day you buy it. Pick the age of the car you are looking at.

0 to 4 years - broadest lender appetite
5 to 8 years - most of the panel, sharper pricing questions
9 years and older - specialist lenders only
Most of the panel 6 YEARS OLD AT PURCHASE

Well inside policy for most lenders, with pricing questions attached.

At this age lenders start caring about kilometres, service history and how much the car will be worth at the end of the term. The panel is still wide.

Keeping the term shorter here often unlocks a better rate than adding deposit.

Age at the end of the term is what counts

A car that is 6 years old today will be 11 years old at the end of a 5 years loan. That single number decides which lenders can look at it.

Also on the lender checklist

1
Kilometres travelled High readings tighten the panel faster than age alone.
2
Make and model Some lenders exclude imports, kit cars and heavily modified vehicles.
3
Roadworthy and title The car has to be registrable and free of finance owing before settlement.

Not sure the car you are looking at will pass?

Send us the details and a broker will tell you which lenders can finance it, before you apply anywhere. Apply online or call and we will check it with you.

Check my car with a broker
A set of car keys handed across at the end of a used car sale

Dealer, private seller or auction

Where you buy changes the paperwork, not the rate

Plenty of brokers only handle dealer deals. Private sales and auctions need the money to move differently, so here is exactly what happens in each case.

Buying from a dealer

The simplest path. The dealer supplies the invoice, the lender pays them, and you collect the car. You are still free to use us instead of the finance desk on the floor.

What we need Dealer invoice, your ID and income documents
How funds move Lender pays the dealership directly on settlement
Watch for Add-ons loaded into the loan that you did not ask for
Bring the dealer quote and we will tell you whether the finance on offer is competitive. Start with a quote

Honest comparison

Used car loan or new car loan?

Both are secured against the vehicle. The differences show up in price, depreciation and how much room a lender gives you.

New car loan

TYPICAL RATE
The sharpest end of the panel, the security is easy to value
VEHICLE AGE TEST
Not applicable
DEPRECIATION
Steepest in the first three years, and you carry it
DEPOSIT PRESSURE
Higher purchase price means a bigger loan for the same car
BEST FOR
Buyers who want a warranty and will keep the car long term

Used car loan

More car for your money
TYPICAL RATE
A little above a new car, and profile dependent either way
VEHICLE AGE TEST
Applies, usually measured at the end of the loan term
DEPRECIATION
The first owner already absorbed the worst of it
DEPOSIT PRESSURE
A smaller loan for the same model and trim
BEST FOR
Buyers who want the most car per dollar borrowed

Still weighing up new against used? Your broker will price both across the panel so you are comparing real numbers, not sticker prices. Our car loan options page sets out what else is available.

Compare my options

Application to keys

What the next few days look like

Straightforward applications move fast. Older vehicles and self-employed income take a little longer, and your broker will tell you which one you are.

Day 0

Apply online

Your details, the amount you need, and the vehicle if you have found one. Two minutes, no credit check yet.

Day 0 to 1

A broker reads it

A real person matches your profile and the car against the lenders most likely to say yes.

Within 24 hours

Options on the table

Rates, fees and repayments side by side, in writing, before anything is submitted for a formal decision.

Day 2 to 3

Approved and settled

We handle the lender paperwork and pay the seller directly, whether that is a dealership, a person or an auction house.

Not sure which car yet?

Get pre-approved first and shop with a number in your pocket. Our car loan calculator is a useful companion once you have an amount in mind.

Ask about pre-approval
A broker checking a used car beside the open bonnet before finance settles

One application, a full panel

Why use a broker for used car finance?

Going direct to a single bank or lender means you see one rate, one set of terms, and one approval decision. If that lender says no, or prices your used car loan badly because of its age, you start again somewhere else and wear another credit enquiry.

Yes Loans works the other way around. One application reaches our full lender panel, and your broker compares what each lender will offer for your specific vehicle and situation before anything is submitted for a formal decision.

✓

One credit enquiry, not five

Shopping lender by lender leaves a trail on your file that makes the next application harder.

✓

Lenders that suit second-hand cars

We know which lenders on the panel are relaxed about vehicle age, kilometres and private sales.

✓

No cost to compare

You see rates, fees and repayments in writing before you commit to anything.

Get a free quote today

3 Steps for Fast Finance

Apply online in minutes

We match you to the right lender

Get your finance fast

Apply Now

What moves your rate

What affects your used car loan rate?

Used car loan rates in Australia vary considerably, and nobody quotes one off a single number. These four inputs, weighted roughly like this, decide where in the range you land.

Credit profile

Repayment history carries the most weight. Defaults do not end the conversation, they narrow the panel.

Vehicle age

Older cars are harder for a lender to recover value from, so pricing rises with age.

Deposit

Money upfront lowers the loan to value ratio, which is the number lenders actually watch.

Loan term

Longer terms ease the monthly figure and add interest overall. Balance is the point.

These four inputs decide where in the range you land. We are a broker, so we do not set the number, but one application tells you exactly where you sit, in writing, with no credit enquiry to get the options.

Get my rate in writing

Pre-approval before you bid

Auctions and private sellers do not wait while finance gets sorted. Pre-approval gives you a real ceiling and a settlement process ready to go, so you can commit on the day. Valid for a set period and free to arrange.

Get pre-approved
Rows of used cars at an outdoor vehicle auction yard

Used car loan questions

Can I get a used car loan for any second-hand vehicle?

Most lenders set an upper age limit, commonly requiring the car to be under about 12 years old at the end of the loan term. Some lenders on our panel are more flexible on older vehicles, and your broker will point you at those first.

That depends on your credit profile, the age of the vehicle and which lender writes the loan. We are a broker, so we do not set the rate and will not quote one before we have read your file. One application reaches the whole panel, and you see the actual rate in writing before you agree to anything.

Most are secured, with the vehicle as collateral, which usually means a lower rate than an unsecured personal loan. If the car is older or fails a security test, an unsecured loan may still be the practical route.

In many cases yes. Several lenders on our panel work with borrowers who have defaults or a thin credit file. Approval depends on your current income and overall position, not only on what happened three years ago. Our bad credit car loans page covers what changes when your file is not clean.

Conditional approval on a straightforward application can land within 24 hours on business days. Older vehicles, self-employed income or missing documents will add time, and your broker will tell you upfront which applies.

Yes. Used car loans through Yes Loans are not limited to dealership purchases. We settle private sales and auction purchases regularly, and we confirm the vehicle checks out before funds are released.

Getting a quote and reviewing your options does not require a credit enquiry. One application through us reaches the whole panel, so you avoid the multiple enquiries that come from applying to lenders one by one.

Apply Today To Save 

Victoria Park, Western Australia

Every used car loan on this page is arranged by the same eight people in one Perth office.

4.8

from 281 reviews on Google

8

brokers, every one of them in Perth

2009

trading from Victoria Park since

9

lenders your one application reaches

A couple holding the keys to their newly financed used car

Used car finance, Australia wide

Apply for a used car loan today

Yes Loans is a Perth based finance broker with a specialist panel covering new and used vehicles across Australia. We work harder to say yes more often.

Send the form, or call and speak to a broker who will tell you where you stand before you spend a weekend at the yards.

Apply online now
Call (08) 9472 3000

Need $5000 or less?
Our referral partners at MoneyBuddy may be able to assist with a personal loan from $500 – $5,000!
Easy application process and apply within minutes. Get started today!

Apply now