Money3 Car Loan Review

Money3 is a vehicle and personal loan lender that specialises in lending to customers that have impaired credit. While they have flexible repayment terms, their rates are on the higher end for secured lenders starting at 12.95% (17.58% comparison rate*).

Best for

Consumers with impaired credit, such as past defaults, late payments on other credit facilities or bankruptcy agreements

Old vehicles, with Money3 able to accept vehicles with up to 250,000kms on the odometer (or even more for Diesel vehicles!)

Draw backs

High interest rates, with rates starting from 12.95% and going as high as 28%

Non-digital processes - meaning paper documents required and no online portals

Money3 overview

Money3 is a non-bank lender offering car loans and other vehicle finance for up to $50,000 and you can borrow for anything from a motorcycle to a ride-on lawnmower. They also provide personal loans up to $12,000, which can be used for a broad range of purposes (e.g. vehicle repairs, medical expenses etc.).

Money3 claims to “specialise in giving people a fair go”, which means they are a great solution for customers with an impaired credit history and also have options for customers on Centrelink.

This does however come at a price, with fixed interest rates ranging from 13.95% to 28% (max rate).

How to apply for a Money3 loan

Money3 has the most relaxed credit policies of any of the ~30 lenders on Driva’s panel and often will assess customers on a case-by-case basis as opposed to having specific strict policies.

That said, at bare minimum Money3 applicants should at least meet the following requirements:

  • Full-time employment (or 3 months of casual employment)
  • Minimum pre-tax income of $20,000 per annum
  • Minimum credit score of 200

Driva tip: We won’t lodge a customer’s application with a particular lender until we know it’s very likely to be approved. This means for most Money3 applicants who are assessed on a case-by-case basis, Driva will anonymously discuss your profile with a Money3 representative before sharing your profile to protect your credit score.

See if you qualify for a Money3 loan in minutes

Find my rates
Fixed rates from:

13.95% per annum (17.58% comparison rate*)

Loan amounts:

$2,000 - $50,000

Loan terms:

2 - 5 years

Loan types:

Secured and unsecured personal loans

Min. credit score:


Min. income:

$20,000 per annum (before tax)



  • Establishment fee: $330 - $995 (depending on loan size)
  • Risk fee: 5% of loan value (capped at $995)
  • Monthly: $0
  • Early termination charges: No
  • Brokerage: $230 - $990 (depending on loan size)

Big no-no's (automatic declines)

Too many dishonours in a 3 month period

If you’re a big gambler (more than 20% of your net income)

More than 2 active payday loans

More than 2 unpaid defaults

Driva tip: Using the Driva platform you can find out whether you meet Money3's lending criteria quickly and easily. We vet your application against all credit policies to ensure you're very likely to be approved before sharing your information.

Other hot tips

You can pay off your loan early with Money3 at no extra cost so this can be a great short term solution

Money 3 - Frequently Asked Questions