Alex Car Loan

Main points to consider with an Alex car loan

Alex is a neobank lender that offers car loans from $2,100 to $30,000. Car loans from Alex are unsecured, with terms from 6 months to 5 years. You can apply in just 3 minutes with its 100% online application, and you'll usually receive a fast response. Alex personal loans only have a single upfront fee; there are no ongoing fees and no penalty charges for making extra repayments or repaying the loan early.

Rates on these loans range between 8.45% p.a. and 16.49% p.a. depending on the strength of your credit score. If you head to the lender's website you can get a rate estimate instantly that's based on your score, the amount of funding that you require, and your loan term.

Features of an Alex car loan

Alex Car Loans come with the following features:

• Personalised rate. Rates for Alex loans are personalised, meaning that the higher your credit score, the lower your rate.
• Loan amount. Funding amounts vary from $2,100 to $30,000.
• Loan term. 6 months to 5 years.
• Rate estimate. Receive a rate estimate online based on your loan amount, desired loan term and credit score before you apply.
• Unsecured. You do not have to use your car as security when opting for a loan from Alex.
• Fixed. This car loan has a fixed rate, so your repayments won't change over the life of the loan.
• Online application. Apply 100% online with no manual paperwork.
• Quick application. Applications take just three minutes to complete.
• Flexible repayments. Depending on your preferences, you can repay your loan weekly, fortnightly or monthly.
• No monthly fees. There are no monthly or any other ongoing fees with this loan.
• No early repayment fees. Repay your loan early or make extra repayments penalty-free and save money over the life of the loan.

Fees and charges

You can expect the following fees and charges from an Alex personal loan:

• Establishment fee. No establishment fee.
• Interest rate. You'll receive a rate from 8.45% p.a. to 16.49% p.a. depending on your credit score. Comparison rates vary depending on loan term and loan amount.

How do I apply for an Alex car loan?

Applying for a car loan with Alex is quick and easy. Simply click "Go to site" to visit the lender's website directly and fill out a three-minute application. You will need to meet the following criteria in order to apply:

• Be an Australian citizen or permanent resident
• Be 18 years old or over

You will also need to have the following documentation to hand:

• An Australian passport or driver's licence
• Your Internet banking details

Alex's site warns that if you are currently receiving JobSeeker payments, it may have trouble lending to you. However, if this applies to you, it's still worth getting in touch with Alex to see if it can help.

Remember that while this is a competitive loan product, it's still a good idea to compare other unsecured car loan options, prior to submitting an application. And if you don't mind offering your vehicle as security on a loan, you can check out some secured car loan options too.

Compare car loan providers

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Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
OurMoneyMarket New Car Loan Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare
loans.com.au - New - Variable Rate Special Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.24% to 7.74%	Comp. Rate (p.a.) 7.36% to 8.85%	Application Fee $400	Monthly Fee $8	Monthly Repayment	Go to siteMore Info Compare
Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare	You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with. Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Credit Concierge New Car Loan Fixed1 - 7 Years $10,000 - $100,000	Interest Rate (p.a.) 6.29% to 16.45%	Comp. Rate (p.a.) 7.41% to 17.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment	Go to siteMore Info Compare
RACV New Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.29% to 16.99%	Comp. Rate (p.a.) 8% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare	You'll receive a fixed rate from 7.29% p.a. A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Simplify New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare
Credit Concierge Used Car Loan Fixed1 - 7 Years $10,000 - $1,000,000	Interest Rate (p.a.) 6.8% to 17.45%	Comp. Rate (p.a.) 7.56% to 18.91%	Application Fee $553	Monthly Fee $10	Monthly Repayment	Go to siteMore Info Compare
OurMoneyMarket Used Car Loan - No Vehicle Age Limit Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare
Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare	You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a. A used car loan of up to $300,000 with quick approval times and balloon payment options.
Simplify Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.19% to 18%	Comp. Rate (p.a.) 6.6% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare
RACV Used Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.49% to 16.99%	Comp. Rate (p.a.) 9.21% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment	Go to siteMore Info Compare	You'll receive a fixed rate from 8.49% p.a. Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.

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