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Bank Australia - Used Car Loan

Secured | Fixed | Cars up to 7 years old

The Bank Australia Used Car Loan offers an advertised interest rate from 8.95% p.a. and a comparison interest rate from 9.16% p.a.. The Bank Australia Used Car Loan is a Fixed rate, Secured loan with a minimum borrowing range of $1,000 and a loan repayment term of between 1 and 5 years.

More Bank Australia Used Car Loan details can be found below or visit Bank Australia to learn more or apply.

Compare Car LoansProduct Image For Bank Australia - Used Car Loan - Secured | Fixed | Cars up to 7 years old
A Secured loan with an advertised rate from 8.95% p.a. and comparison rate from 9.16% p.a.
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Advertised Rate

8.95% p.a. Fixed

Comparison Rate

9.16% p.a.

Loan Term

1 to 5 years

Borrowing Range

$1,000 to $100,000
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Interest

Rate Type
Fixed
Advertised Rate
8.95% p.a.
Fixed
Comparison Rate
9.16% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily

Loan Security

Loan Security
Secured
Secured By
Vehicle

Loan Terms

Loan Term
1 to 5
years
Borrowing Range
$1,000 to $100,000
Repayment
Fortnightly, Weekly, Monthly

Features

Extra Repayments Allowed
Yes

Fees

Establishment Fee
$150
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Late Payment Fee
$0
per event

Who is the product designed for?

The retail clients for whom this product has been designed are individuals who:

  • Are seeking a loan to:
    • Purchase a new or used vehicle up to 7 years of age.
    • Purchase a new or used motorbike (road registered) up to 7 years of age.
    • Refinance where original loan purpose was for purchase.
  • Are aged 18 years or more and meet the credit assessment criteria for the product.
  • Are able and willing to offer the vehicle as security for the loan, and security interest noted on the Personal Property Securities Register (PPSR).
  • Need the certainty of a fixed interest rate and fixed repayments for the term of the loan.
  • Need the flexibility to make additional repayments.
  • Want to take advantage of a lower rate for low emissions and electric vehicles.
Visit Bank Australia to view Target Market Determination Effective From: 2023-11-23.

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