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Westpac Car Loans

As one of the four top banks in Australia and the first and oldest bank, Westpac is a popular choice that’ll help you pull the sheet off your dream car in no time.
Scroll down now to get started with your application. BestFind’s comparison tools will help you quickly compare Westpac car loans so you can locate the option that’s best for you.

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Borrow between $10,000 and $100,000 for a new or used car, which is used as security for the loan

Overview

Application / establishment fees$250

Minimum loan amount$10,000

Maximum loan amount$100,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)8.49%

Car loan comparison rate9.67%

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$12.0

Other fees$0

Missed payment fee$9

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$175

Encumberance/REVVS check fee$0

For used vehiclesYes

SponsoredNo

Telephone1300 720 697

Data accurate as of17.09.2017

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Pay ZERO fees^ on all loans with NOW Finance. That's right - no establishment fee, no monthly fees, no early payout fee on all loans between $15,000-$100,000. What's more, get your guaranteed, tailored interest rate in two minutes without impacting your credit score. ^Charges such as default or enforcement costs may apply if you do not comply with the terms of your loan.

Overview

Application / establishment fees$0

Minimum loan amount$15,000

Maximum loan amount$100,000

Minimum term1.5 years

Maximum term7 Years

Car loan interest rates (base)4.45%

Car loan comparison rate4.45%

Monthly repayments (approx)$558

Total repayments (approx)$33,516

Total interest repayments (approx)$3,516

Rate typeFixed

Secured or unsecuredYes

GO TO Now Finance

Other Fees & Information

Monthly fee$0.0

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 of21/02/2021

GO TO Now Finance

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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)4.99%

Car loan comparison rate5.69%

Monthly repayments (approx)$566

Total repayments (approx)$33,960

Total interest repayments (approx)$3,960

Rate typeFixed

Secured or unsecuredSecured

GO TO NRMA

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 of12/08/2020

GO TO NRMA

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A quick and easy, 100% online application. No printing. No paper. No fuss. No monthly account keeping fees, no exit fees and no early repayment fees.

Overview

Application / establishment fees$250

Minimum loan amount$2,001

Maximum loan amount$75,000

Minimum term1 year

Maximum term7 years

Car loan interest rates (base)5.35%

Car loan comparison rate5.65%

Monthly repayments (approx)$570

Total repayments (approx)$34,257

Total interest repayments (approx)$4,257

Rate typeFixed

Secured or unsecuredSecured

GO TO OurMoneyMarket

Other Fees & Information

Monthly fee$0

Other fees$0

Missed payment fee$35

Repayment scheduleWeekly, Fortnightly, Monthly

Early repayments allowedYes

Exit / early repayment fee$0

Encumberance/REVVS check fee$27

For used vehiclesYes

SponsoredYes

Telephone1300 990 115

Data accurate as of30/04/2021

GO TO OurMoneyMarket

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NRMA used car loans can help you get one step closer to owning your dream pre-loved car.

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)6.24%

Car loan comparison rate6.94%

Monthly repayments (approx)$583

Total repayments (approx)$35,000

Total interest repayments (approx)$5,000

Rate typeFixed

Secured or unsecuredSecured

GO TO NRMA

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 vehiclesYes

SponsoredYes

Telephone1300 732 398

Data accurate as of12/08/2020

GO TO NRMA

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BestFind.com.au provides factual information in relation to financial products. While BestFind.com.au attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and to the best of our knowledge is correct at time of publishing. The information published on BestFind.com.au is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with BestFind.com.au. BestFind.com.au recommends that you read the relevant PDS or offer documentation before taking up any financial product offer. For more information please see BestFind.com.au's Terms of Use and Services Guide.

Minimum and maximum loan periods vary between 6 months and 10 years. Comparison interest rates vary between 6.55% and 19.07% p.a. Total interest repayments vary between $4,290 and $14,531 over the life of the loan. *Comparison rate is based on an unsecured loan of $30,000 for a term of 5 years. 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. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.

What type of car loan are you looking for?

Westpac car loans – Get auto finance from a leading bank

Established in 1817, Westpac has over 2 centuries of experience in the financial services game. It also has various divisions and over 13 million customers to show for it. Westpac offers many types of financial products and services, such as home loans, credit cards, and personal loans.

If you’re looking for car loans, you’ll find them bundled under the personal loans option. Let’s look at what else you can discover when it comes to Westpac car loans.

Westpac car loans in a nutshell

If you’re planning to buy a car with Westpac, you have two options: Secured and unsecured. Both scenarios come with a fixed rate, but Westpac car loan interest rates are lower if you choose the secured option, which requires that you use your car as security.

Westpac’s secured car loan also allows you to borrow between 10K and 100K, payable over a maximum loan term of 7 years. Overall, Westpac car loans are a good fit for those looking for a fixed competitive rate and the ability to choose whether or not to offer a car as security.

Pros

  • Quick online application.
  • Extra repayments are allowed.
  • Some visa holders can qualify.
  • You have the freedom to decide how the seller should be paid.
  • Secured car loans come with additional benefits. For instance, you can borrow 10% more to cover other related expenses. You also get a free history check for your vehicle, and pre-approval allows you to negotiate confidently with the seller.

Cons

  • You have to pay an establishment fee and a monthly fee.
  • Small personal loans of under $4,000 are not available.
  • An early repayment fee may apply.

Westpac secured car loans

Westpac’s car loan is actually a type of secured personal loan. To qualify for this option, the motor vehicle you plan to use as security should:

  • Not be older than 7 years.
  • Be registered under your name.
  • Be made locally or imported by the manufacturer.
  • Not have any previous write-offs.
  • Have the coverage of a comprehensive insurance policy in which Westpac is noted as the credit provider.
  • Be for personal use only.

You can apply for any amount between $10,000 and $100,000. Although you get a lower rate than an unsecured option, keep in mind that Westpac can reclaim your vehicle if you default. Another thing to note is that Westpac’s car loans have a two-step process.

You first get conditional approval and then final approval once you find a car. Conditional approval does not guarantee funding, and further details about you and the vehicle you’re offering as security may be required before final approval is confirmed.

Westpac personal loans

If offering your vehicle as security isn’t for you, you can still take out an unsecured personal loan from the same lender, but at a higher rate. You can only borrow $4,000 up to $50,000. Our Westpac personal loans guide has the full details in case you decide to apply for this option.

A closer look at Westpac car loan features

  • You get a fixed interest rate, meaning your repayments are always the same. So it’s easier to budget, and you don’t have to worry about increasing interest rates.
  • You have the flexibility to choose from weekly, fortnightly, or monthly repayments – whichever suits your cash flow.
  • It’s possible to make extra repayments and pay off your debt early. However, a prepayment fee may apply if you choose a term that’s over 2 years but clear your debt in under 2 years. This fee can be waived if you’re refinancing to a Westpac personal loan.
  • If you’re struggling with your Westpac car loan repayments, you can apply for financial hardship. To reduce the chances of this happening, it’s best to estimate your repayments before applying. Our Westpac car loan calculator is handy for this purpose.
  • Fees and charges that apply include an establishment fee of $250 and a monthly service fee of $12. Other fees and charges such as a missed payment fee and bank cheque fee may sometimes apply.

Qualifying for a Westpac Bank loan

Before applying for a car loan, you’ll have to meet Westpac’s basic requirements:

  • Be at least 18 years of age.
  • Have a regular pre-tax income of $35,000 or more per year.
  • Be an Australian citizen, permanent resident, holder of an acceptable visa, or have confirmed employment in Australia if you’re a non-resident.
  • Have a valid Australian driver’s licence.
  • Plan to use the funds for personal purposes only. (If you’re looking for a vehicle for business purposes, check out BestFind’s guide on business car loans in Australia).

How to apply online for a Westpac car loan

  • Click “Go to Site” in BestFind’s table above to kick-start your online application.
  • Provide personal details and current ID as well as details about your employment, income, and expenses. The application process takes about 10 minutes.
  • According to Westpac, you’ll get an instant response after you submit.
  • Once you find a vehicle, you’ll need to provide a registration certificate or dealer’s invoice and proof of comprehensive insurance. This applies to secured car loans only.

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