Calculate your EV loan with Liberty

Loan amount
Loan term
10.54%
Per month
Pros
  • Flexible loan options
  • Competitive interest rates
  • No repayment penalties
Cons
  • Application fee
  • Ongoing monthly fee
  • Early exit fee

What I love about Liberty Financial

Liberty Financial is a prominent non-bank lender in Australia, offering a variety of financing solutions, including specialized car loans for both new and used vehicles. Here’s why we appreciate Liberty Financial for car financing:

  1. Flexible Loan Options: Liberty Financial provides loans ranging from $5,000 to $100,000, with terms between 2 to 7 years, catering to diverse financial needs and preferences.
  2. Competitive Interest Rates: Interest rates start from 8.95% p.a. (6.99% comparison rate), offering competitive rates for borrowers with varying credit profiles.
  3. Additional Perks for EV Buyers: Liberty Financial offers discounts for electric vehicle (EV) purchases, promoting sustainable transportation options.

Other deal-sweeteners and perks

In addition to their core strengths, Liberty Financial’s car loan options offer several attractive incentives:

  1. Balloon Payment Option: Liberty Financial offers the flexibility of balloon payments, allowing borrowers to reduce monthly repayments by deferring a lump sum payment to the end of the loan term.
  2. No Prepayment Penalties: Borrowers can make additional repayments or pay off their loan early without incurring penalties, providing flexibility to manage their finances.
  3. Quick Approval Process: Liberty Financial offers a swift approval process, with applications reviewed promptly, enabling borrowers to access funds efficiently.

What’s not so great

While Liberty Financial’s car loan options have numerous advantages, it’s important to consider potential drawbacks:

  1. Application Fee: An application fee applies, the amount of which varies depending on the loan type and the applicant’s circumstances.
  2. Ongoing Monthly Fee: An ongoing fee of $10 per month is charged for the maintenance of the loan account throughout its term.
  3. Early Exit Fee: An early exit fee of $125 is applicable if the loan is paid off early, which borrowers should consider when planning their repayment strategy.

Overall Rating

Liberty Financial’s car loan options present a compelling choice for individuals seeking flexible and tailored financing solutions. Their wide range of loan amounts, competitive interest rates, and commitment to promoting sustainable transportation make them a noteworthy option. However, potential customers should be mindful of application and ongoing fees, as well as early exit charges when considering their financing options.