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Commonwealth Bank Car Loans

Unlock the value of your car for a reduced interest rate.

Overview

Application / establishment fees$250

Minimum loan amount$10,000

Maximum loan amount$500,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)8.49%

Car loan comparison rate9.54%

Monthly repayments (approx)$615

Total repayments (approx)$36,921

Total interest repayments (approx)$6,921

Rate typeFixed

Secured or unsecuredSecured

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Other Fees & Information

Monthly fee$10.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 14 31

Data accurate as of02.04.2017

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We have dropped the rate on our 5 and 6 year loan terms.

Overview

Application / establishment fees$150

Minimum loan amount$4,000

Maximum loan amount$50,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)12.99%

Car loan comparison rate13.86%

Monthly repayments (approx)$682

Total repayments (approx)$40,946

Total interest repayments (approx)$10,946

Rate typeFixed

Secured or unsecuredUnsecured

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Other Fees & Information

Monthly fee$10.0

Other fees$0

Missed payment fee$0

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone13 14 31

Data accurate as of02.04.2017

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There's nothing quite like the thrill of buying a car, but one of the biggest challenges is finance. Ideally you'll want a car loan that offers flexibility and a low competitive rate, and is easy to apply for.

Overview

Application / establishment fees$399

Minimum loan amount$10,000

Maximum loan amount$100,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)5.99%

Car loan comparison rate6.55%

Monthly repayments (approx)$579

Total repayments (approx)$34,790

Total interest repayments (approx)$4,790

Rate typeFixed

Secured or unsecuredSecured

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Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$0

Repayment scheduleFortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$205 or 2% of outstanding balance (whichever the greater) at the time the final payout is made. Applies in the first three quarters of the original loan term only.

Encumberance/REVVS check fee$0

For used vehiclesNo

SponsoredYes

Telephone1300 732 398

Data accurate as of1/08/2018

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Let us help you get on the road. With our Secured Fixed Car Loan you'll get a great rate, plus lots of features to help you get to your destination faster.

Overview

Application / establishment fees$175

Minimum loan amount$5,000

Maximum loan amount$100,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)6.79%

Car loan comparison rate7.16%

Monthly repayments (approx)$591

Total repayments (approx)$35,464

Total interest repayments (approx)$5,464

Rate typeFixed

Secured or unsecuredSecured

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Other Fees & Information

Monthly fee$0.0

Other fees$0

Missed payment fee$0

Repayment scheduleFlexible

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$90

For used vehiclesYes

SponsoredNo

Telephone133 282

Data accurate as of09.05.2018

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Get a new car loan from 7.95%* (Comparison rate 9.56%^ p.a) with a quick application process and no monthly fees.

Overview

Application / establishment fees4%, maximum $495

Minimum loan amount$4,000

Maximum loan amount$40,000

Minimum term1.5 years

Maximum term7 years

Car loan interest rates (base)7.95%

Car loan comparison rate9.56%

Monthly repayments (approx)$607

Total repayments (approx)$36,454

Total interest repayments (approx)$6,454

Rate typeFixed

Secured or unsecuredUnsecured

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Other Fees & Information

Monthly fee$13.0

Other fees$0

Missed payment fee$35

Repayment scheduleWeekly, Fortnightly

Early repayments allowedYes

Exit / early repayment feeYes

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredYes

Telephone1300 275 669

Data accurate as of15.07.2018

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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 Commonwealth Bank car loans

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

What car loan options are available?

Commonwealth Bank has 2 car loan products:

  • Commonwealth Bank Secured Car loan
  • Commonwealth Bank Fixed Rate Personal 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 Commonwealth Bank personal loansCommonwealth Bank home loan and Commonwealth Bank credit cards.

Do you have a Commonwealth Bank 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 Commonwealth Bank directly.

How to apply for a Commonwealth Bank car loan?

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

Commonwealth Bank’s car loan eligibility criteria

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

Commonwealth Bank’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 $10,000 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 Commonwealth Bank 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 Commonwealth Bank car loan

There are many additional factors Commonwealth Bank 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 Commonwealth Bank car loan for?

Examples of common loan purposes Commonwealth Bank will lend for:

Additional Commonwealth Bank car loan information

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

How much can you borrow? Between $10,000 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

Commonwealth Bank allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

Commonwealth Bank allows you to make additional or early repayments. There are no fees associated with completely repaying your loan off early. View their terms and conditions to learn more about early termination.

Security

Commonwealth Bank’s Secured Car Loan requires an asset (typically, the vehicle) as security. For an unsecured car loan, consider Commonwealth Bank’s Fixed Rate Personal Loans.

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