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

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)

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

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.

FeePayable upfront?Paid to Driva?Description

Establishment fees

x

x

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

x

x

Added to your monthly repayment, and covers the cost of ongoing customer support

Early termination charges

x

x

Added to your monthly repayment, and covers the cost of ongoing customer support

Brokerage

x

o

This is added to your loan amount, and is paid to Driva by the lender for introducing the loan

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 ALender 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 DrivaLender 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

*Only starting rates are provided on this page. Your actual interest rate will be based on a number of factors, including the type and age of the asset you are seeking to purchase; the information you provide during your application and the term of the loan. You can use Driva's smart loan match tool to determine your tailored rate. Comparison rates on this page are calculated on a loan of $30,000 fixed for a term of 5 years, effective 01/01/2020 and subject to change. The Comparison Rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts may result in a different comparison rate.

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