Used Car Finance Australia
Buying used makes sense - you get more car for your money and avoid the steepest depreciation. We help Australians finance used cars from $5,000 to $100,000+, whether you're buying from a dealer, private seller, or at auction.
Finance available for cars up to 15+ years old
Smart Finance for Smart Car Buying
Why pay more for a new car when you can get a quality used vehicle at a fraction of the price? Used cars offer excellent value, and with the right finance, you can drive away in a reliable vehicle without stretching your budget.
At Your Lending Friend, we compare used car loans from over 40 lenders - including specialists who finance older vehicles that banks might turn away. Whether you've found the perfect car at a dealer or spotted a bargain in a private listing, we can help arrange the finance.
Why Choose Used?
Smart reasons to consider a used car
More Car for Your Budget
Used cars offer significant savings over new, letting you get a better vehicle for less.
Avoid Steep Depreciation
New cars lose 20-30% value in year one. Used cars have already taken that hit.
Finance Cars Up to 15+ Years
Many lenders finance older vehicles - some have no age limits at all.
Dealer or Private Sale
We can help with finance whether you're buying from a dealer or private seller.
Dealer or Private Sale?
We can help with both - here's what to consider
Buying from a Dealer
Benefits
- +Often simpler settlement process
- +Dealer can handle some paperwork
- +May offer dealer finance (but compare rates!)
- +Usually includes statutory warranty
- +PPSR check typically done
Consider
- !Generally higher prices than private
- !Dealer finance may not be the best rate
- !Pressure to add extras
Buying from a Private Seller
Benefits
- +Often lower purchase prices
- +Can negotiate directly with owner
- +Full vehicle history from owner
- +No dealer markup
Consider
- !May need independent inspection
- !PPSR check essential (we can help)
- !Settlement requires coordination
- !No statutory warranty
What Lenders Look At
Key factors that affect your used car loan approval
| Factor | What It Means |
|---|---|
| Vehicle Age | Most lenders finance cars up to 12-15 years old at loan end. Some have no limits. |
| Purchase Price vs Market Value | Lenders check the car's value matches the purchase price to protect their security. |
| Vehicle Condition | For older cars, a roadworthy certificate or inspection may be required. |
| Your Credit History | Your credit score affects rates, but bad credit options are available. |
| Loan-to-Value Ratio | The loan amount compared to the car's value. A deposit can improve this ratio. |
| Kilometres | High-kilometre vehicles may have lending restrictions with some lenders. |
How Used Car Finance Works
Four simple steps from pre-approval to driving away
Get Pre-Approved
Know your budget before you shop. Pre-approval gives you a spending limit and puts you in a stronger negotiating position.
Find Your Car
Shop at dealers, browse private listings, or check auction sites. Take your time to find the right vehicle.
Confirm Your Loan
Once you've found your car, we finalise the loan details. We'll check the PPSR and arrange any inspections needed.
Settle & Drive
We handle the payment to the seller and ensure clear title transfer. You drive away with your new wheels.
Checking your options won't affect your credit score
Bad Credit? We Can Still Help
Don't let past credit issues stop you from getting reliable transport. We specialise in helping Australians with defaults, poor credit history, or past bankruptcy get approved for used car finance.
Learn About Bad Credit OptionsUsed Car Finance FAQs
Common questions about financing a used vehicle
Most mainstream lenders finance cars up to 12-15 years old at the end of the loan term. However, we work with specialist lenders who have no age limits - they'll finance older vehicles if they're in good condition and fairly priced. The key factors are the vehicle's condition, value, and your ability to repay.
Yes, absolutely. We regularly arrange finance for private sa...
Yes, absolutely. We regularly arrange finance for private sale purchases. The process is slightly different - we'll need to verify the vehicle details, conduct a PPSR check to ensure there's no money owing, and coordinate the settlement with the seller. We handle all of this for you.
Not always. Many lenders offer 100% finance for used cars, d...
Not always. Many lenders offer 100% finance for used cars, depending on your credit profile and the vehicle's value. However, having a deposit (even 10-20%) can help you secure a better interest rate and increases your approval chances, especially if you have less-than-perfect credit.
Rates for used cars can be slightly higher than for new cars...
Rates for used cars can be slightly higher than for new cars, as the vehicle provides less security for the lender. However, the difference is often small, and you'll still save money overall because the purchase price is lower. We compare rates across 40+ lenders to find competitive options.
Before any used car purchase, we conduct a PPSR (Personal Pr...
Before any used car purchase, we conduct a PPSR (Personal Property Securities Register) check to verify there's no money owing on the vehicle. If there is, the debt must be cleared before settlement. This protects you from buying a car with hidden debts attached.
Yes. We specialise in bad credit car loans and work with len...
Yes. We specialise in bad credit car loans and work with lenders who consider applications from people with defaults, poor credit history, or past bankruptcy. You may pay a higher rate, but getting approved is often possible. Check out our bad credit car loans page for more details.
Still have questions? Contact our friendly team