Westpac Car Loans, Interest Rates & Fees - Best Find
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Westpac Car Loans

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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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)6.99%

Car loan comparison rate7.55%

Monthly repayments (approx)$593

Total repayments (approx)$35,633

Total interest repayments (approx)$5,633

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 vehiclesYes

SponsoredYes

Telephone1300 732 398

Data accurate as of1/08/2018

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Get a new or used car loan from 8.95%* (Comparison rate 10.56%^ 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)8.95%

Car loan comparison rate10.56%

Monthly repayments (approx)$622

Total repayments (approx)$37,321

Total interest repayments (approx)$7,321

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 Westpac car loans

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

What car loan options are available?

Westpac has 1 car loan product:

  • Westpac 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 Westpac personal loansWestpac home loan and Westpac credit cards.

Do you have a Westpac 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 Westpac directly.

How to apply for a Westpac car loan?

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

Westpac’s car loan eligibility criteria

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

Westpac’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 Westpac 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 Westpac car loan

There are many additional factors Westpac 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 Westpac car loan for?

Examples of common loan purposes Westpac will lend for:

Additional Westpac car loan information

Westpac’s minimum and maximum car loan amounts and terms

How much can you borrow? Between $10,000 and $100,000, over terms between 1 year and 7 years. Use our filter as a repayment calculator to see your monthly repayments and rates.

Repayment schedule

Westpac allow weekly, fortnightly or monthly repayment.

Extra repayment or early penalties

Westpac 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

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