Compare BOQ Car Loans & Interest Rates - Best Find

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Boq Car Loans

Fixed Motor Vehicle Secured

Fixed Rate Car Loans give you the certainty of knowing what your repayments will be over the course of your loan. Your repayment amount is determined at the start of the loan

Overview

Minimum loan amount$5,000

Maximum loan amount$500,000

Minimum term1 year

Maximum term7 years

Advertised rate7.39%

Comparison rate8.75%

Monthly repayments (approx)$316

Total repayments (approx)$11,406

Total interest repayments (approx)$1,406

Rate typeFixed

Secured or unsecuredSecured

Security required Yes

Application / establishment fees$195

Other Fees & Information

Monthly fee$7.5

Quarterly fee$0

Annual fee$0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Early repayments fee$50

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 55 72 72

Data accurate as of02.04.2017

Comparison warning Comparison Rate calculated on a loan amount of $30,000 over a term of 5 years. These rates are for secured loans only. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Fees and charges are payable. Normal credit assessment criteria apply. Full terms and conditions are available at any BOQ branch. Interest rates quoted are indicative only, and are subject to change without notice. Fixed interest rates may vary between application and drawdown of the loan.

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Variable Motor Vehicle Secured

Variable Rate Car Loans have interest rates that go up and down based on the market. You'll have increased flexibility to pay off your loan sooner with unlimited additional repayments

Overview

Minimum loan amount$5,000

Maximum loan amount$500,000

Minimum term1 year

Maximum term7 years

Advertised rate11.00%

Comparison rate12.39%

Monthly repayments (approx)$334

Total repayments (approx)$12,024

Total interest repayments (approx)$2,024

Rate typeVariable

Secured or unsecuredSecured

Security required Yes

Application / establishment fees$195

Other Fees & Information

Monthly fee$7.5

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

Telephone1300 55 72 72

Data accurate as of02.04.2017

Comparison warning Comparison Rate calculated on a loan amount of $30,000 over a term of 5 years. These rates are for secured loans only. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Fees and charges are payable. Normal credit assessment criteria apply. Full terms and conditions are available at any BOQ branch. Interest rates quoted are indicative only, and are subject to change without notice. Fixed interest rates may vary between application and drawdown of the loan.

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Compare 100s of car loans

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 BOQ car loans

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

What car loan options are available?

BOQ has 2 car loan products:

  • BOQ Fixed Motor Vehicle Secured
  • BOQ Variable Motor Vehicle Secured

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

You can also review and compare BOQ personal loansBOQ home loans and BOQ credit cards.

Do you have a BOQ 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 BOQ directly.

How to apply for a BOQ car loan?

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

BOQ’s car loan eligibility criteria

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

BOQ’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 $5,000 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 BOQ 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 BOQ car loan

There are many additional factors BOQ 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 BOQ car loan for?

Examples of common loan purposes BOQ will lend for:

Additional BOQ car loan information

BOQ’s minimum and maximum car loan amounts and terms

How much can you borrow? Between $5,000 and $80,000, over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Repayment schedule

BOQ allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

BOQ allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early. View their terms and conditions to learn more about early termination.

Security

BOQ’s Car Loans require an asset (typically, the vehicle) as security.