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Bank First - Used Car Loan

Secured | Variable | Vehicles from 12 months to 12 years old

The Bank First Used Car Loan offers an advertised interest rate from 10.79% p.a. and a comparison interest rate from 12.16% p.a.. The Bank First Used Car Loan is a Variable rate, Secured loan with a minimum borrowing range of $5,000 and a loan repayment term of between 1 and 7 years.

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

Compare Car LoansProduct Image For Bank First - Used Car Loan - Secured | Variable | Vehicles from 12 months to 12 years old
A Secured loan with an advertised rate of 10.79% p.a. and comparison rate of 12.16% p.a.
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Advertised Rate

10.79% p.a. Variable

Comparison Rate

12.16% p.a.

Loan Term

1 to 7 years

Borrowing Range

$5,000
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Interest

Rate Type
Variable
Advertised Rate
10.79% p.a.
Variable
Comparison Rate
12.16% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily

Loan Security

Loan Security
Secured

Loan Terms

Loan Term
1 to 7
years
Borrowing Range
$5,000
Repayment
Monthly, Weekly, Fortnightly

Features

Redraw Available
Yes

Fees

Establishment Fee
$195
one off
Loan Service Fee
$0
per year
Late Payment Fee
$20
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 for the purchase of a used motor vehicle that is aged between 12 months and 12 years old.
  • Are aged 18 years or more and meet the credit assessment criteria for the product.
  • Are able and willing to offer acceptable security for the loan.
  • Require the flexibility to make additional repayments and an ability to redraw advance repayments as
    required.
Visit Bank First to view Target Market Determination Effective From: 2024-02-28.

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