WZR Charts, page-4611

I've just done my own bit of desk research, and according to Rate City, the best car loan currently available is from Australian Military Bank (AMB). They advertise a rate of 3.6% to 7.3% depending upon the motor asset against which the loan is secured, and on the borrower's credit rating. There is an application fee of between $100 and $500, and a monthly admin fee of $10. The comparison rate is between 4.51% and 8.76%, compared to Wisr's 5.46% (according to Rate City, although I note that Wisr show 6.08% on their website). With AMB, the asset must be less than 5 years old, and the loan is for a maximum of 80% of the purchase price. Aside from AMB, the only other comparison rate shown from a lender (as opposed to a broker) to be lower than Wisr's 5.46%, is 4.99% (4.65% advertised rate) for the People's Choice Credit Union (PCCU) "Discounted Personal Loan". As far as I can tell from the PCCU website, this rate is limited to loans for vehicles under 2 years of age. For vehicles older than this, the applicable comparison rate appears to be 8.35%.

My conclusion: The Wisr product would appear to be competitive, and to have been carefully designed....