Find out what you need to know about Plenti auto loans, including interest rates, features and the application process.
Founded in 2014, Plenti (formerly known as RateSettler) is Australia’s first consumer lending platform that enables ordinary Australians to invest directly in consumer loans. Plenti is an online lender that uses smart technology to offer fast, simple and personalized loans to everyday Australians.
What car loans does Plenti offer?
Plenti has helped finance more than 24,000 new and used cars, offering auto loans from $10,000 to $100,000, with loan terms of three to seven years.
Settlement can take place 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:
Find out how Plenti’s car loans compare to some of the lowest rate car loans on the market:
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Lender |
type of interest | Vehicle type | Maximum vehicle age | Ongoing charges | Registration fees | Full refund | Prepayment | Instant Approval | Online application | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Fixed | New | 1 year | More details | |||||||||
| FEATURED |
Fixed Green Car Loan |
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Fixed | New, used | 99 years old | More details | |||||||||
| FEATUREDAPPLY ONLINE |
Car loan
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Car loan
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Fixed | New | 1 year | More details | |||||||||
| GET APPROVAL WITHIN 24 HOURS | |||||||||||||
New – Special Bounty (fixed)
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Fixed | New | 2 years | More details | |||||||||
| FAST FREE APPLICATION PROCESS |
Quick New Vehicle Loan Low Rates
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Quick New Vehicle Loan Low Rates
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Fixed | New | 1 year | More details | |||||||||
| No ongoing fees |
Plenty car loan
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Plenty car loan
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Fixed | New, used | 7 years | More details | |||||||||
| No ongoing fees |
Plenti car loan (refinancing) |
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Features of the Plenti car loan
Plenti’s auto loans have a few notable features, such as no monthly fees or prepayment charges. You can take a minute to answer 10 simple questions and get an estimate of the interest rate on your car loan. The application itself takes around 10 minutes and is completely online and paperless – no need to print copies of your supporting documents.
Why choose Plenty?
If you’re looking for a new car loan but aren’t sure if Plenti is right for you, there are several reasons why Plenti is your type of lender.
Plenti offers personalized rates based on your credit score. This is called risk-based pricing, where your rate is based on the likelihood of you failing to repay a loan.
Plenti also claims to be Australia’s “most loved” consumer lender, with 31 awards to its name over the past six years and more than 4,000 five-star reviews. In addition, 15,000 customers returned to borrow again through Plenti. Plenti’s asserts that the following values guide its decisions:
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Think like a customer
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make it happen
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do what is right
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be the best
You can also choose to invest in Plenti Personal Loans. Investors earn up to 6.5% returns per annum by investing in ‘creditworthy borrowers’ across Australia. Plenti reports that it has 23,000 registered investors and 100% principal and interest is repaid.
How to apply for a car loan with Plenti
To apply for a car loan from Plenti, you must be:
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Over 18, sometimes 21
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An Australian citizen or permanent resident
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Earn at least $25,000 per year from a regular, proven source of income (self-employed will need to provide additional documentation)
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Hold a provisional or full driver’s license
You will also need a few supporting documents ready to submit with your application, including:
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Identification proof: Driving license or passport and some bills as proof of address
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Income verification: Payslips, bank statements, tax returns
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Expenses and debts: Bank, credit card and loan statements
Image by Nate Johnston on Unsplash
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