Rating based on 6 reviews

Driva Car Loan

Updated
Driva homepage
Author Driva. Screenshot of Driva website.
[Accessed July 24, 2023]

About Driva

Driva, an innovative company based in Australia, is revolutionising the car-buying process by providing a platform that addresses the common challenges and frustrations faced by customers.

Unlike traditional car dealerships, lenders, and brokers, the team at Driva has experienced these difficulties firsthand as customers themselves.

This unique perspective led them to create a solution that offers much-needed transparency and options in the car finance industry.

A drive car loan like no other: Benefits, features and more

Why use Driva

The typical car-buying journey is often marred by unpleasant experiences, including dealing with untrustworthy dealers, navigating pushy sales staff, and enduring lengthy negotiations. The financing stage can be particularly daunting, as many people settle for the first offer out of sheer exhaustion, resulting in overpayment or limited options that negatively impact their credit scores.

A turning point

The inspiration for Driva came from the CEO, Scott Montarello’s own car-buying misfortune in 2017. Despite having a commendable employment history and credit score, his loan application was inexplicably rejected.

This frustrating experience highlighted the lack of transparency and control in the finance process, sparking the creation of a new platform.

Experience the difference a Driva car loan makes

Driva empowers you as never before by restoring control of your car-buying experience. By connecting with them, you regain autonomy and have access to a wide range of options.

The platform provides the necessary information for you to make informed decisions about your car finance, demystifying the process and ensuring you're aware of all available choices. Their goal is to empower you and enable you to secure financing on your own terms.

Crystal-clear car hunting

If you're tired of the traditional car-buying process and long for a more transparent and empowering experience, it's the solution you've been waiting for. Their mission is to make car buying easier and more enjoyable for everyone.

By putting you back in the driver's seat, they offer a fresh approach that transforms the car-buying journey. Take control of your car finance by connecting with them today and discover a new way to navigate the landscape of car buying.

Driva Services

A Driva car loan conveniently offer you from $2,000 to $1 million. You can also select the balloon payment which you’ll make at the end of your loan term to suit your circumstances. This can range from 0% to 50%.

Focusing on simplicity and personalisation, they cater to the diverse needs of people and businesses, ensuring a seamless borrowing experience.

Choose from more than 30 offers

If you're looking for a consumer car loan, their online platform connects you with over 30 lenders, providing personalised rates, transparent fee structures, and monthly repayment information within just 60 seconds.

They take extra steps to pre-vet loan applications before submission, ensuring a higher chance of approval. Their Driva car loan calculator helps you estimate monthly repayments, giving you a clearer understanding of your financial commitments.

Which type of Driva car loan is right for you?

Personal loans with a difference

Driva also offers personal loans, enabling you to access tailor-made finance rates from a panel of 15+ lenders. With competitive rates and flexible repayment terms, their personal loan product is adjusted to your needs. By allowing easy comparison of loan options, they empower you to make informed decisions aligned with your financial circumstances.

Commercial car loans

Businesses can benefit from Driva's commercial car loans, covering various vehicle types and offering advantages such as reduced documentation requirements and potential tax benefits. They've streamlined the borrowing process for businesses, ensuring efficiency and convenience.

Refinancing is also available

Refinancing is another area where they excel, enabling you to take advantage of low-interest rates by replacing your existing car loans with the better terms and features of a Driva car loan. This can result in reduced monthly repayments and improved overall loan costs.

Optional insurance by Driva

They've partnered with CGU Insurance to provide comprehensive car insurance to further support you. CGU Insurance offers flexible coverage options, convenient payment plans, and the opportunity to earn premium discounts for maintaining a claim-free record.

In a nutshell, Driva transcends traditional car loans by offering a range of financial products and services. Their tailored approach, transparent processes, and partnerships with institutions like CGU Insurance ensure a seamless borrowing experience.

Whether you need a consumer car loan, personal loan, commercial car loan, refinancing options, or insurance coverage, Driva provides the tools and support necessary for making informed financial decisions.

Driva – Car loan

  • Loan Type Car loans

Benefits of Driva

  • Quickly compare loans online
  • Choose the best rates
  • Get approved for finance online

 Car loan calculator

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Loan interest rates depend on your credit score and risk profile.
This car loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Applying for your tailor-made Driva car loan

They aim to simplify the loan application process by connecting you with a wide network of lenders and offering customised interest rates. Therefore there are specific eligibility requirements to meet and documents to gather.

To begin the application process, you can visit their handy website. There, you'll be prompted to provide basic personal information. They'll utilise this data to assess your eligibility and offer customised interest rates that align with your financial situation. The best part is that this initial assessment has no impact on your credit score, allowing you to explore loan options without any negative repercussions.

Reduced waiting period with Driva

Once you've selected a preferred lender and completed the necessary application, they'll forward it to the lender for a comprehensive credit check. The time required to receive loan approval may vary depending on the lender, but they strive to expedite the process as much as possible.

To finalise your car loan application, you'll need to submit several essential documents.

These usually include

  • A valid driver's licence
  • Your two most recent payslips
  • Bank statements from the past three months

Driva also offers the convenience of digitally retrieving your bank statements through its platform.

Additional documentation may be required based on the specific requirements of the lender.

Throughout the application process, Driva is committed to providing support and guidance. Their team of friendly loan consultants is available to answer any questions and assist you whenever needed. They understand that the financial information requested is crucial for assessing your eligibility and ensuring compliance with regulations. In some cases, co-applicants may be allowed, and their employment and income details may be required for expense-splitting purposes.

If you prefer to secure a loan amount and interest rate before finalising your vehicle choice, Driva offers the option of pre-approval. This allows you to have a clear understanding of the loan terms and conditions, empowering you to make well-informed decisions.

The bottom line

It’s important to note that all charges, including those associated with Driva's services, are included in the customised quotes provided to borrowers. When reviewing loan options, it is important to pay attention to the comparison rate, as it provides a comprehensive view of the loan's true cost, taking into account most fees.

They also acknowledge the significance of credit scores in the loan application process. To assess your eligibility without impacting your credit file, they conduct a soft credit check. Furthermore, through their partnership with Equifax, you have access to your credit scores and credit history, enabling you to make informed financial decisions.

Simplicity and the best rates

Applying for a car loan with Driva is a hassle-free process. Their digital platform connects borrowers with multiple lenders, offers tailored interest rates, and provides comprehensive support at every step.

By meeting the eligibility requirements and submitting the necessary documents, you can confidently apply for a car loan and secure the best available rates in Australia. Their commitment to transparency, user-friendly interface, and customer satisfaction has established them as a trusted partner in the car financing journey.

man holding thumbs up

Driva is a trusted & reliable provider of car loans

In our review, Driva adheres to the compliance criteria in accordance with the National Consumer Protection Act, where the granting the loan will not cause financial distress to the consumer.

✅ Driva is a registered credit provider in Australia: ACL 531492

Customer Reviews & Testimonials

April 2023

Obtaining a car loan from Driva was a breeze. The entire process was smooth, and their team provided excellent customer service. They guided me through the application process, making it easy to ...

Addison H
— Sydney —

February 2023

I had a positive experience with Driva for my car loan. Their customer service was responsive and helpful, addressing all my inquiries promptly. The application process was straightforward, and t...

Harlow T
— Canberra —

January 2023

Driva went above and beyond to assist me with my car loan. Their team provided exceptional support throughout the entire process. They were patient in answering all my questions and helped me cho...

Charlie A
— Perth —

Driva Contact

Contact Number

E-Mail

Website

Physical Address

Opening Hours

  • Monday 09:00 – 18:00
  • Tuesday 09:00 – 18:00
  • Wednesday 09:00 – 18:00
  • Thursday 09:00 – 18:00
  • Friday 09:00 – 18:00
  • Saturday – Closed
  • Sunday – Closed