New Car Loans Mandurah
A new car comes with a manufacturer warranty, the latest safety, and zero history to worry about. The finance, though, is where the dealership makes its margin. Andy compares new car loan rates across more than 30 lenders so you walk into the showroom already knowing your real rate, not the one the finance desk hopes you’ll accept.
Andy made it straightforward and simple and represented us in a way that put our best foot forward.
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For the entire process Andy was a wealth of knowledge and provided excellent support, guidance and timely information.
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Top bloke, great service and locked in a great deal for us. Walked us through each step and had everything finalised really quickly.
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What a New Car Loan Is and How It Works How It Works
A new car loan finances a brand new vehicle bought from an authorised dealership, complete with its manufacturer warranty. Because the car is new and the lender knows exactly what it’s worth, new car loans offer lower interest rates than used car loans — there’s simply less risk for the lender to price in.
That lower risk shows up elsewhere too. Lenders provide higher loan-to-value ratios on new vehicles, up to 100% in some cases, so you can finance the full drive-away price without a deposit if your situation supports it. Terms typically run 5 to 7 years to match the vehicle’s useful life. Andy compares new car loan rates across 30+ lenders to minimise your total interest cost, and explains the trade-offs the same way he does across the motor vehicle finance hub.
We query over 30 lenders to find an outcome that’s right for you
The Depreciation Trade-Off Worth Knowing About Trade-Off
Here’s the part the showroom doesn’t lead with: new car depreciation occurs immediately, with vehicles losing 20–30% of their value in the first year. That’s the cost of buying new, and it’s real — but it isn’t automatically a reason to buy used.
A new car gives you the full manufacturer warranty, the newest safety and fuel efficiency, no unknown history, and usually a lower interest rate than the equivalent used loan. For a lot of buyers, especially those keeping the car five years or more, the warranty cover and lower rate offset a chunk of that early depreciation. For others, a near-new car a year or two old captures most of the benefit after someone else has worn the first year’s drop.
Andy won’t push you either way. He’ll show you the numbers on the new car you’re considering — rate, term, total interest, and how the loan balance tracks against the car’s value — so you decide with the full picture rather than the finance desk’s version of it.
Why the Dealer's Rate Usually Isn't the Best Rate Best Rate
Dealer finance is convenient, and that convenience has a cost built into the rate. The finance desk is typically tied to one or two lenders and earns on the margin between the wholesale rate and what you sign. A broker works the other way — Andy queries more than 30 lenders and brings the cheapest genuine option* back to you.
On a new car the gap matters less than on a used one, because new vehicles attract sharp rates across the board. But even a quarter of a percent over a six-year term adds up, and Andy compares the rate, the fees, and the comparison rate so the lowest advertised number doesn’t quietly cost you more once fees are in. He’s been doing this for WA buyers since 2000 — long enough to know which lenders genuinely lead on new car rates this quarter.
Why Buyers Use Andy for a New Car Loan New Car Loan
You get the lender comparison the dealership won't run for you, and a broker who's still there after settlement.
Total Cost, Not Sticker Rate
Andy compares the rate, fees, and comparison rate across 30+ lenders so you get the lowest real cost over the full term — not the headline number.
Up to 100% Finance
If your situation supports it, some lenders fund the full drive-away price on a new car, so you keep your savings for the things you’d rather spend them on.
Pre-Approval Before You Negotiate
Walk in with finance sorted and you negotiate on price as a cash-equivalent buyer, not someone the finance desk can upsell.
New Car Loan Questions Perth Buyers Ask Andy
Usually, yes. A new car has a known value and a manufacturer warranty, so there’s less risk for the lender to price in — that typically means a lower interest rate than the equivalent used car loan. Andy compares both where it’s relevant so you can see the gap on your specific numbers.
On a new vehicle, some lenders will fund up to 100% of the drive-away price if your income and credit support it. That lets you keep your savings, though a deposit lowers your repayment. Andy tells you which lenders offer the higher LVR for your situation.
New car loans typically run 5 to 7 years to match the vehicle’s useful life. A longer term lowers the monthly repayment but adds total interest; a shorter term costs less overall but more each month. Andy shows you both so you can pick the balance that suits your budget.
It’s worth understanding. A new car loses around 20–30% of its value in the first year. That’s the real cost of buying new, offset by the full warranty, latest safety, and lower finance rate. Andy shows how your loan balance tracks against the car’s value so you go in with eyes open.
Dealer finance is convenient but usually tied to one or two lenders with margin built into the rate. Andy queries over 30 lenders and brings back the cheapest genuine option*, comparing fees and the comparison rate so the lowest advertised number doesn’t end up costing more.
Yes, and it’s the smart move. Pre-approval tells you your real rate and borrowing limit before you negotiate, so you deal on price as a finance-ready buyer. Once you pick the car, Andy finalises the loan against it.
Reviewed by
Credit Representative & Mortgage Broker
The information on this page has been reviewed for accuracy by Andy Iriks, a Credit Representative & Mortgage Broker at Wanna Finance. It is general information only.
