Fees: here's what you should know
We're transparent about lender fees, including the ones they pay us, to eliminate hidden surprises!
We're on the driver's side
Here's what you should know about fees that might be charged in Driva car loans
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No hidden fees
Our quoted monthly repayments are inclusive of all fees. This includes fees the lender charges you and fees the lender pays us (some on your behalf)
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Special rates
Some of our lenders give us special rates, and we work with a number of lenders you can't apply for directly. This means you'll usually get a better deal through Driva than going direct
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You always choose
Different lenders pay us differently, but this never impacts the options we show you. Driva customers will always be free to choose the lowest cost option for them
Lender fee types
Every lender charges fees. These are available to Driva customers in their Proposal Disclosure Statement, but here's a summary.
Fee
Payable upfront?
Paid to Driva?
Description
Establishment fees
Lenders charge this for setting up your loan. This fee is added to your loan amount and payable as part of your monthly repayments
Monthly fees
Added to your monthly repayment, and covers the cost of ongoing customer support
Early termination charges
Generally charged by more traditional lenders, and covers the administration involved in discharging a loan. Often used to discourage customers from paying out early
Brokerage
This is added to your loan amount, and is paid to Driva by the lender for introducing the loan
Establishment fee
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Lenders charge this for setting up your loan. This fee is added to your loan amount and payable as part of your monthly repayments
Payable
upfront?

Paid to
Driva?

Monthly fees
Read review
Added to your monthly repayment, and covers the cost of ongoing customer support
Payable
upfront?

Lender pays
Driva?

Early termination charges
Read review
Generally charged by more traditional lenders, and covers the administration involved in discharging a loan. Often used to discourage customers from paying out early
Payable
upfront?

Paid to
Driva?

Brokerage
Read review
This is added to your loan amount, and is paid to Driva by the lender for introducing the loan
Payable
upfront?

Paid to
Driva?

Monthly Repayment is King
There's a lot to digest when thinking about your next car loan. But when it comes to understanding the car loan options Driva has quoted you, monthly repayment is king. This is because all fees are included in the quoted monthly repayment, ensuring you can compare like-for-like between lenders.
Lender A
Lender B
Loan amount
$35,000
$35,000
Loan term
5 years
5 years
Interest rate
4.69%
6.17%
Brokerage
$990
$990
Establishment fee
$700
$400
Total fees incl. in monthly payment
$1,690
$1,390
Monthly payment
$696
$706
Driva tip: by choosing Lender A instead of Lender B, you would save $600 over the life of the loan even though Lender A has an establishment fee twice the size!
How Driva helps you save
Driva vets your application against thousands of data points to ensure approval confidence, and has access to special rates as well as lenders you can't access directly. You also might be surprised to learn that it's often cheaper to go with Driva than direct to the lender for identical loans.
Lender A
Through Driva
Lender A
Applying directly
Loan amount
$65,000
$65,000
Loan term
7 years
7 years
Interest rate
5.19%
6.19%
Brokerage
$990
$0
Establish. fee
$700
$700
Total fees incl. in monthly payment
$1,690
$700
Monthly payment
$949
$990
Driva tip: by applying through Driva instead of directly through the lender, you would save $3,444 over the life of the loan even after accounting for the brokerage fee the lender pays us!
More questions?
Read Driva's FAQ