Vehicle finance for medical graduates

When years of studying are nearly over, Medfin’s car loans help doctors get on the road sooner.

A new car? Medfin helps new doctors get their start.

You’ve almost made it through the long years of study and you’re about to embark on your career. If you’ve recently accepted an Intern position, then you know that life will be easier with a car.

We get you behind the wheel before you start earning an income by offering pre-approved finance. If you’ve already found the car that’s right for you, we can usually approve your loan within two business days. And to make sure you’re ready to go when you graduate, Medfin’s graduate car loan is available to you with payments starting, when you start work at the hospital.

Benefits you’ll enjoy with a Medfin Graduate Car loan.

  • Finance 100% of the purchase price, , no additional security needed

  • Up to 6 months with no payments¹ if you need it, with a fixed rate

  • Variable rates and fixed rates available on a Personal Car Loan

  • Sign documents online – saves on paperwork and time

  • No annual fees²

  • Optional balloon payment at the end of the loan

Simple car loans while your career moves into gear

We find the right financial solution for thousands of healthcare professionals each year. Medfin’s Graduate Car Loan is a small but simple step that helps you to finish your studies and start your career.

Let’s chat about how our tailored approach is all about you

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Frequently asked questions

Who can apply for a graduate car loan?

If you’re a medical student (excluding dental, veterinary and other allied health professions) who is close to graduating and you have a confirmed placement at an Australian hospital next year, you’re eligible. And no, you don’t need a parent as guarantor.

Can I apply online?

To make it simple, we start the application over the phone. The right paperwork is then emailed to you, for you to complete.

What's a balloon payment and what should I know about it?

When loan repayments are structured with one larger final payment due at the end of the loan term, this is referred to as balloon payment.

This can reduce the monthly payment amount during the loan, because you are paying less off the loan at a slower pace. However you will still need to make the final payment at the end of the loan term. And the total interest charges are higher when loans are structured with a larger balance at the end, compared to making higher monthly repayments that reduce the loan balance quicker.

You are liable to pay the balloon, no matter how much the cars. value is at the of the loan term. So it’s always worth considering your options and understanding the risk of still owing an amount of money on an asset, at the end of your loan term.

What is Medfin's Personal Loan Target Market Determination?

Read more about Medfin Personal Loan Target Market Determination.

Where can I find more information about the Banking Code of Practice for Medfin?

Medfin enters into Personal Loan Agreements as agent for National Australia Bank Limited ABN 12 004 044 937 Australian Credit Licence 230686 (‘NAB”).  Doing the right thing is important to Medfin and to NAB. That’s why NAB has adopted the Banking Code of Practice which sets the standards of practice and service for banks. The Banking Code applies to Medfin’s relationship with personal loan customers in its capacity as agent for NAB.

To find out more about the Banking Code or to obtain a copy of the Banking Code, visit and look up “Banking Code”.

Important Information

Available to Australian residents only, graduating from an Australian Medical University course with a written confirmed offer of Internship placement at an Australian hospital for the year following graduation.

1. Loan must be fixed rate when choosing a repayment deferral. Repayments are structured to begin one (1) month following employment start date, with a maximum of six (6) months deferral from start of the loan  2. Other fees and charges may apply

All facilities with Medfin and National Australia Bank Limited are subject to eligibility criteria, credit assessment and approval. Terms & conditions, fees & charges apply (available upon request).