FairGo Interest Rates Chart

Besides buying a house, one of the most exciting but stressful periods in your life is buying a car whether it's your first, or your fifth. The exciting part is when you buy the car of your dreams, but the stressful part is trying to find the finance to be able to buy that car. When applying with different finance companies for car finance the interest rates they offer may vary significantly from lender to lender. This is because they have internal scoring systems in the background which may complicate your application process. 

At FairGo Car Loans we have simplified this process and removed the uncertainties of applying through different lenders so that we can offer you a fair and competitive interest rate.

Our "Traffic Light" Interest rate chart will give you an indication of the interest rate range you could be eligible for. 


Factors affecting your rate offer Green Light  Orange Light  Red Light 
Credit History  Clean  Paid Defaults & Collections Defaults & Collections
Type of Security - Car (year/make/model)  2012 - 2017  2006 - 2011 2000 -2005
Deposit % including trade-in value  > 36% 16% - 35 % < = 15%
License holder type (Full/Restricted/Learners)  Full  Restricted Learners
Age of Applicant 36+ 26 -35 18 - 25 
Joint applicant or Guarantor Joint Applicant Guarantor Single
4 or more Green 3 or more Orange 3 or more Red
 Likely Interest Rate Range 9.95% - 15.95% 15.96% - 19.95% 19.96% - 29.95% 


We also consider the following factors which may also affect your interest rate: 

  • Your Assets
  • Your Liabilities
  • Your Income
  • Length of time at your current employment
  • Length of time at your current address
  • Number of dependants
  • Afforability calculations