Compare Bank Australia Car Loans | Interest Rates & Fees - BestFind

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Term of car loan

Features

Type of vehicle loan

Car finance provider

Bank Australia Car Loans

Bank Australia
6.45%
6.66%
$310.86

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Car loan

Our car loan offers a competitive interest rate and we even offset your car's carbon emissions for the life of the loan for new or used vehicle purchases up to seven years of age. The $150 establishment fee is waived for vehicles that meet an ANCAP rating of 5 star and/or a greenhouse rating of 7+.

Overview

Minimum loan amount$1,000

Maximum loan amount$150,000

Minimum term6 months

Maximum term7 years

Advertised rate6.45%

Comparison rate7.46%

Monthly repayments (approx)$310

Total repayments (approx)$11,190

Total interest repayments (approx)$1,190

Rate typeFixed

Secured or unsecuredSecured

Security required Yes

Application / establishment fees$150

Other Fees & Information

Monthly fee$0.0

Quarterly fee$0

Annual fee$0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone132 888

Data accurate as of13.09.2017

Comparison warning Comparison Rate. The Comparison Rate is based on a secured loan of $30,000 for 5 years. Fees and charges may be applicable. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

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Did you know you can compare 100s of car loans? Review, calculate interest rate repayments, apply online and save by visiting our main car loans comparison page.

Compare and review Bank Australia car loans

Looking to finance a new or used car, van, truck or motorcycle? When comparing Bank Australia car loans, there are other key facts to consider and understand, other than just Bank Australia’s interest rates.

What car loan options are available?

Bank Australia has 1 car loan product:

  • Bank Australia Car loan

View the above table for detailed product information and a comparison of the interest rates, fees and features.

You can also review and compare Bank Australia personal loansBank Australia home loan and Bank Australia credit cards.

Do you have a Bank Australia car loans calculator?

Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.

For a more accurate quote, contact Bank Australia directly.

How to apply for a Bank Australia car loan?

If you’d like to apply online for a Bank Australia car loan, just scroll up and click on “Learn more” to be taken to Bank Australia’s secure online application form. Before you apply, be sure to learn about Bank Australia’s loan products, fees and eligibility criteria. Give yourself around 30 minutes to complete the car loan application.

Bank Australia’s car loan eligibility criteria

Before you apply for a car loan, be sure to understand and meet the Bank Australia’s lending criteria. Below is high-level overview of Bank Australia’s criteria:

Bank Australia’s minimum requirements for a car loan

  • Minimum age of 18
  • Earn a minimum of $15,000 per annum
  • You’re buying a car or motorcycle for personal use
  • Minimum loan amount of $1,000 or more
  • You’re a permanent Australian resident or valid work visa holder (457 or other diplomatic visas)

Information you’ll need to provide

Whether at the Bank Australia branch or online, make sure to have the following details and documents nearby:

  • A current Australian driver’s license (if you have one)
  • Your current employer’s name, contact name and phone number
  • Previous employer, if you’ve changed jobs in the last three years
  • Income, expenses, assets and liabilities (such as other loans or credit cards)

Are you self-employed?

If you’re self-employed, you will also need to provide:

  • Financial statements for the last year (no older than 18 months)
  • Your most recent personal/business tax return (no older than 18 months)

Other things to keeping mind when applying

  • Approval time takes between 1 to 3 business days
  • It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
  • Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your Bank Australia car loan

There are many additional factors Bank Australia consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!

What can you use a Bank Australia car loan for?

Examples of common loan purposes Bank Australia will lend for:

Additional Bank Australia car loan information

Bank Australia’s minimum and maximum car loan amounts and terms

How much can you borrow? Between $1,000 and $80,000, over terms between 0 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Repayment schedule

Bank Australia allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

Bank Australia doesn’t allow you to make additional or early repayments.

Security

Bank Australia’s Car Loan requires an asset (typically, the vehicle) as security.