Bank Australia car loans

Because with a competitive rate that low, you may prefer it to stay that way for the entire term. After all, one downside of opting for a variable rate loan with another provider instead is that it could increase while you’re still making repayments.

Yes, if you want to score the lowest possible car loan rate Bank Australia can offer you. Even cars up to 7 years old can be secured!

Bank Australia car loans start from $1k, up to the amount you are eligible to borrow. There is no limit.

Yes, Bank Australia is among the few providers that waiver application fees for customers who buy cars with a 5 star ANCAP crash rating or greenhouse rating of 7+.

Let’s look at a scenario. Say you bought a $30k zippy new ride for your morning commute to work. Based on the comparison rate at the time of writing, over a 5 year period, fortnightly repayments would be $137. Try tailoring an example like this for yourself using our car loan repayments calculator.

For sure! Bank Australia will give you the option to choose between weekly, fortnightly or monthly loan repayment dates. That way, you’ll have the freedom to choose which one works with your budget best.

Loan terms can range from 1 to 7 years, or up to 5 if you’re buying a used car. Choose a time frame that reflects what you can comfortably repay, and how much money in interest you are willing to hand over to Bank Australia long term. Remember, it’s okay to choose a lengthy contract, as there are no financial penalties involved for repaying your loan off early.

Certainly. Just think it through first, as you cannot access additional repayments via a redraw facility.

You can clear your debt before the due date with Bank Australia and not be charged an early loan repayment penalty. You may find this surprising, as many fixed rate loans involve contract break fees. With Bank Australia, you get to have the best of both worlds!

No, unfortunately you cannot. If having that kind of flexibility is a must for you, browse other loans in the market at our car loan hub.

Yes, used cars up to 7 years old that fit the criteria can be purchased with and secured to a Bank Australia loan.

You may be charged a late fee and your credit rating could be at risk. Too many missed repayments can lead to a loan default, and you subsequently giving up your car (if it is secured).

The process is easy, and with Bank Australia it can even start on this very page. Scroll to the top and hit a “go to site” blue icon beside the car loan of your choice. You’ll then be redirected to Bank Australia’s application form, where you’ll need to fill in details such as…

• Your name and address within Australia
• Your income, assets and liabilities
• Your driver’s licence or passport number

If you’d rather take out a Bank Australia car loan in person, visit a local branch and do it there. Alternatively, you could call the provider to sign up verbally. Once you’ve applied, the turnaround is quick. You’ll will be notified on the outcome from a few business hours to a couple of days.