Compare MyState Car Loans & Interest Rates - Best Find

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Mystate Car Loans

New up to 2 years

A Personal Loan from MyState is an easy way to finance your new or second-hand car, motorbike, boat or caravan.

Overview

Minimum loan amount$3,000

Maximum loan amount$75,000

Minimum term1 year

Maximum term10 years

Advertised rate7.99%

Comparison rate9.00%

Monthly repayments (approx)$318

Total repayments (approx)$11,448

Total interest repayments (approx)$1,448

Rate typeVariable

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

Telephone1300 763 831

Data accurate as of23.09.2017

Comparison warning Comparison rate is calculated on a loan amount of $30,000 for a term of 5 years based on monthly repayments. WARNING These comparison rates are applicable only to, and are calculated on, the basis that the loan is secured.

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2 years up to 7 years

A Personal Loan from MyState is an easy way to finance your new or second-hand car, motorbike, boat or caravan.

Overview

Minimum loan amount$3,000

Maximum loan amount$75,000

Minimum term1 year

Maximum term10 years

Advertised rate9.49%

Comparison rate10.51%

Monthly repayments (approx)$325

Total repayments (approx)$11,703

Total interest repayments (approx)$1,703

Rate typeVariable

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

Telephone1300 763 831

Data accurate as of23.09.2017

Comparison warning Comparison rate is calculated on a loan amount of $30,000 for a term of 5 years based on monthly repayments. WARNING These comparison rates are applicable only to, and are calculated on, the basis that the loan is secured.

Hide info ˄

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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 MyState car loans

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

What car loan options are available?

MyState has 1 car loan product:

  • MyState Secured 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 MyState home loan and MyState credit cards.

Do you have a MyState 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 MyState directly.

How to apply for a MyState car loan?

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

MyState’s car loan eligibility criteria

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

MyState’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 $3,000 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 MyState 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 MyState car loan

There are many additional factors MyState 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 MyState car loan for?

Examples of common loan purposes MyState will lend for:

Additional MyState car loan information

MyState’s minimum and maximum car loan amounts and terms

How much can you borrow? Between $3,000 and $75,000, over terms between 1 year and 5 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Repayment schedule

MyState allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

MyState 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

MyState’s Secured Personal Loan requires an asset (typically, the vehicle) as security.