Harmoney Car Loan

Main points to consider with the Harmoney P2P Car Loan

Harmoney offers secured and unsecured car loans on 3 years, 5 years or 7 years terms. Fixed interest rates are from 5.66% p.a., but the interest rate you receive depends on your credit rating and whether or not you choose security.

Loans range from $2,000 up to $70,000 and you usually have your money within 24 hours after the online application is approved. Provided you submit your repayments on time, the Harmoney Car Loan is flexible with only one upfront fee. While there are minimum monthly repayments, there are no penalties if you choose to pay your loan out early.

Features of the Harmoney Car Loan

• Competitive, tailored interest rate. From 5.66% p.a. (comparison rate 6.45% p.a., based on a secured personal loan of $30,000 over 5 years).
• Flexible conditions. Choice of loan amount from $2,000 to $70,000 on 3 years, 5 years or 7 years terms.
• Early payout option. No penalties if you pay your loan off early.
• No hidden fees. Providing you make your repayments on time, the only fee you'll make is the one-off upfront platform fee of $575 for loans upwards of $5,000 and $275 for loans below $5,000.
• 100% online application. Fast, simple online application process with 95% of car loans funded within 24 hours.

Fees and charges

Fees and charges that apply to Harmoney Car Loans include:

• Platform fee. An upfront, one-off platform fee of either $575 for loans over $5,000 or $275 for loans between $2,000 and $5,000 will be added to the loan amount once the loan is settled (also applies to loan top-ups).
• Dishonour fee. If a repayment is dishonoured a $15 fee will be charged to your account and due with your next payment.
• Legal fees. Any legal and associated third party costs incurred by Harmoney if enforcement action is required.

Congratulations, Harmoney!

Harmoney received the highly commended award for 'Lending Innovation' in the 2023 Innovation Awards.

Full list of 2023 winners

How to apply for the Harmoney Car Loan

To start the application process for your Harmoney Car Loan, simply click Go to Site. You’ll need to be eligible for the following criteria:

• You must be an Australian or New Zealand citizen or permanent resident aged 18 years or older.
• You must have suitable ID including a valid Australian or New Zealand driver's licence or passport.
• You must have a regular income or sufficient funds to repay the loan.
• You must have an acceptable credit record as determined by Harmoney.

The documents required to support your loan application include proof of identity such as a driver’s licence and passport and proof of income including payslips or bank statements.

Applying for your Harmoney Car Loan involves 3 simple steps:

• Application. Complete the fast and easy loan application process.
• Assessment. Your suitability is assessed and an interest rate is assigned based on your individual circumstances.
• Investment. Once approved, you’ll be asked to share your story with Harmoney’s investors (i.e. why you want the loan), who’ll then fund it within 24 hours.

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 $622.82	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 $630.83	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 $625.27	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 $637.97	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 $635.67	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 $622.21	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 $642.74	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 $622.82	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 $625.27	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 $622.21	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 $647.01	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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