Car Loan
Essentials
- 10.99% p.a. fixed rate, comparison rate 12.02% p.a.1
- $250 establishment fee2
- $10.00 monthly service fee2
- Apply for up to $100,000 with this low, fixed interest secured loan to buy a new or used car
- Apply online and we aim to have a decision to you in 24 hours or you could receive a conditional approval within minutes of applying over the phone
- Fast track your Personal Loan by applying online and agreeing to receive your contracts via email if approved3
- Make extra repayments when you have additional funds to repay your loan faster4
All applications are subject to loan security guidelines and subject to the Bank's normal lending criteria
Did you know?
Westpac offers a range of repayment options, including Direct Debit which is an easy and convenient way to repay your loan, so why not set one up today?
Things you should know
- 1. The comparison rate is based on a secured car loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- 2. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 3. If you would prefer to receive your contracts in the post (which can take up to 10 business days), please apply via our Personal Lending Centre on 132 651 (8am-8pm, 7 days a week) from anywhere in Australia. Documents sent via post can take 5-10 days.
- 4. Our Car Loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you refinance to a new Westpac Personal Loan at the time of prepayment.
- Westpac Car Insurance is issued by Vero Insurance Limited ABN 48 005 297 807 (Vero). Neither Westpac nor any other member of the Westpac Group guarantees this insurance. This information is current as at 5 October 2011 and has been prepared by the Bank without taking into account your personal objectives, financial situation or needs. This insurance is subject to conditions, limits and exclusions on cover, which are explained in the Product Disclosure Statement (PDS). Before making a decision about this insurance, you should consider the PDS and whether it is appropriate for you. Obtain a copy of the PDS by calling 1800 805 458 or by clicking here. Westpac Banking Corporation ABN 33 007 457 141 (the Bank). Offer ends 3 December 2011.
Features
Fast response
When applying:
- Online - we will aim to give you a decision within 24 hours of receiving your application
- By phone - we can provide you with a conditional approval within minutes and a formal approval once you provide all the necessary information.
Borrowing details
- Apply for between $10,000 and $100,000 to buy a new or used car
- You can either purchase or refinance a used car, provided that the car has been imported to Australia by the manufacturer and all the lending criteria are met
- You may be able to borrow additional funds to purchase extra items to upgrade your car, or to assist with purchasing costs.
Discounts
- If you meet the eligibility criteria, and your loan is approved, you may receive a discount of 0.5% p.a. interest rate discount on student loans when you have the Westpac Choice Student package, Westpac Choice Youth package or Westpac Plus
- If your employer is part of our Corporate Connections program, you may be eligible for a discounted rate. Ask about this offer when you call.
Repayments you can control
- Choose how much to repay each month, as long as it results in your loan being repaid within 1 to 7 years2
- Make extra repayments when you have additional funds to repay your loan faster2
- There is one simple monthly repayment so you know exactly how much you need to pay.
Things you should know
- 1. The comparison rate is based on a secured car loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- 2. Our car personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the account opening date of the original loan.
- Westpac Car Insurance is issued by Vero Insurance Limited ABN 48 005 297 807 (Vero). Neither Westpac nor any other member of the Westpac Group guarantees this insurance. This information is current as at 5 October 2011 and has been prepared by the Bank without taking into account your personal objectives, financial situation or needs. This insurance is subject to conditions, limits and exclusions on cover, which are explained in the Product Disclosure Statement (PDS). Before making a decision about this insurance, you should consider the PDS and whether it is appropriate for you. Obtain a copy of the PDS by calling 1800 805 458 or by clicking here. Westpac Banking Corporation ABN 33 007 457 141 (the Bank). Offer ends 3 December 2011.
Fees
| Fee | Amount |
|---|---|
| Establishment fee 2 | $250 |
| Monthly service fee | $10.00 |
| Prepayment fee 3 | $175 |
Things you should know
- 1. Other fees and charges may be payable. Full Terms and Conditions are available on request. These may be varied, or new Terms and Conditions introduced in the future.
- 2. This fee will be added to your loan amount.
- 3. Our car personal loans have a standard term of 1 to 7 years. If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you take additional finance with Westpac within 2 years of the account opening date of the original loan.
Rates
| Loan | Annual rate | Comparison rate1 | Example amount | Example years |
|---|---|---|---|---|
| Car Loan $10,000-$100,000 | 10.99% p.a. | 12.02% p.a. | $30,000 | 5 |
Rates are current as at 23 January 2012 and are subject to change.
View Car Loan essentials.
Things you should know
- 1. The comparison rate is based on a secured car loan with a loan amount of $30,000 and a term of 5 years. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
