Founded in 2014, Plenti (once known as RateSettler) is Australia’s first consumer-lending platform that allows everyday Australians to invest directly in consumer loans. Plenti is an online lender, utilising smart tech to deliver fast, simple, personally-tailored loans for everyday Australians.

What car loans does Plenti offer?

Plenti has helped finance over 24,000 new and used cars, offering car loans from $10,000 to $100,000, with loan terms from three to seven years.

Settlement can occur within 24 hours, and once approved and accepted, your funds are transferred within two days, according to Plenti.

Check out some of Plenti’s secured car loans in the table below:

Update resultsUpdate
LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkCompare
7.19% p.a.
7.82% p.a.
$597
Fixed
New
1 year
$0
$249
$35,804
No ongoing fees
7.19% p.a.
7.82% p.a.
$597
Fixed
New, Used
7 years
$0
$249
$35,804
No ongoing fees
8.99% p.a.
9.90% p.a.
$623
Fixed
Used
7 years
$0
$249
$37,356
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

See how Plenti’s car loans stack up against some of the lowest rate car loans on the market:

Update resultsUpdate
LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkCompare
6.24% p.a.
7.36% p.a.
$583
Variable
New
1 year
$8
$400
$35,000
Featured
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
6.34% p.a.
8.36% p.a.
$585
Variable
New
1 year
$8
$400
$35,084
6.57% p.a.
7.19% p.a.
$588
Fixed
New
No Max
$0
$250
$35,278
Loan amounts from $2k to $75k
  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
6.09% p.a.
7.21% p.a.
$581
Variable
New
1 year
$8
$400
$34,874
Featured
  • Discounted rate on qualifying electric cars
  • Up to 7 yrs loan term
  • Redraw available up to $5,000/day
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.

Important Information and Comparison Rate Warning

Plenti car loan features

Plenti’s car loans have a few notable features, such as having no monthly fees or early repayment fees. You can take a minute to answer 10 simple questions and get an estimated interest rate on your car loan. The application itself takes around 10 minutes and it is completely online and paperless - no need to print out copies of your supporting documents.

Why should you choose Plenti?

If you’re shopping around for a new car loan but you’re not sure whether Plenti is the way to go, there are a few reasons you may find that Plenti is your kind of lender.

Plenti offers personally-tailored rates based on your credit score. This is known as risk-based pricing, where your rate is based on the probability you will default on a loan.

Plenti also claims to be Australia’s “most loved” consumer lender, with 31 awards under its belt over the past six years, and more than 4,000 five-star reviews. Additionally, 15,000 customers have returned to borrow through Plenti again. Plenti’s says the following values help guide its decisions:

  • Think like a customer

  • Make it happen

  • Do what’s right

  • Be the best

You could also choose to invest in Plenti’s personal loans. Investors earn up to 6.5% p.a. returns by investing in ‘creditworthy borrowers’ from across Australia. Plenti reports it has 23,000 registered investors and 100% of principal and interest is returned.

How to apply for a car loan with Plenti

To apply for a car loan with Plenti, you will need to be:

  • Over 18 years old, sometimes 21 years old

  • An Australian citizen or permanent resident

  • Earning at least $25,000 per year from a regular, proven source of income (self-employed individuals will need to supply additional documentation)

  • Hold a provisional or full driver’s licence

You will also need a few supporting documents ready to submit along with your application, including:

  • Proof of identification: Drivers licence or passport and some bills for proof of address

  • Verification of income: Payslips, bank statements, tax returns

  • Expenses and liabilities: Bank, credit card and loan statements

Image by Nate Johnston on Unsplash