OurMoneyMarket Car Loan Rates & Review

OurMoneyMarket Car Loans as of May 2024

Lender	Advertised rate	Comparison rate*	Monthly repayment	Interest Type	Vehicle Type	Maximum Vehicle Age	Ongoing Fee	Application Fee	Total Repayment	as ofMay 9, 2024

	6.57^%_p.a.	7.19^%_p.a.	^$588	Fixed	New	99 years	^$0	^$250	^$35,278	More details
	OurMoneyMarket – New Car Loan Lower Interest Rates No Hidden Fees A quick and easy, 100% online application. No printing. No paper. No fuss.
OurMoneyMarket – New Car Loan Lower Interest Rates No Hidden Fees A quick and easy, 100% online application. No printing. No paper. No fuss. More details
	6.57^%_p.a.	7.19^%_p.a.	^$588	Fixed	Used	99 years	^$0	^$250	^$35,278	More details
	OurMoneyMarket – Used Car Loan \| No vehicle age limit No ongoing or early exit fees Flexible repayment options
OurMoneyMarket – Used Car Loan \| No vehicle age limit No ongoing or early exit fees Flexible repayment options More details

Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only.

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. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of May 9, 2024. View disclaimer

OurMoneyMarket offers a variety of car loans that cater to different needs. The brand provides loans for both new and used vehicles, including cars, caravans, motorbikes, and motorboats.

These loans can range from $2,001 to $75,000 with terms of 1 to 7 years. Borrowers can choose between secured and unsecured loan options, with fixed interest rates ensuring stable repayment amounts throughout the term.

There are no account keeping fees, prepayment fees, or early exit fees, allowing for flexibility in loan management. Borrowers can choose between monthly, fortnightly, and weekly repayments.

Would-be OMM customers can get a quick quote so they can know what their interest rate will be without launching into a full application. From there, the application can take as little as five minutes with approval achievable in less than 60 seconds.

OMM Car Loan Eligibility

You are aged 18 years or older;
Your after-tax income is greater than or equal to $25,000 per annum;
You have an acceptable credit history with OurMoneyMarket’s credit bureau of choice (illion), as determined at OurMoneyMarket’s discretion;
You are not in hardship with another financial provider;
There are no undischarged bankruptcy listings on your credit file

You will also need to provide personal and financial information as part of your application as well as three months' worth of bank statements.