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How much can I borrow with a car loan?

Whether you’re looking for your first car, a family car or a ‘feel-the-wind-in-your-hair’ car, it helps to know how much money you can borrow before you take that test drive.

While every loan is different, most banks offer secured car loans for between $10,000 and $100,000. That means your loan is secured over the car itself, giving you the benefit of a lower rate compared to an unsecured loan. But it also means the bank can use the car as security and sell it in the unlikely event you can’t pay back the loan.

Calculate how much you could borrow now

The amount you can borrow depends on your individual situation and needs. During the application process, the bank will look into your financials and cash flow to check you’ll be comfortable making your repayments over the term of the loan.

To help you plan ahead, you can put your personal details including your income and expenses into the Westpac Personal Loan Borrowing Power Calculator. This will give you an estimate of the amount you could get to put yourself in the driver’s seat.

Estimate repayments

If you want to see how your loan could work, check out the Westpac Car Loan Calculator. This calculates your estimated repayments, based on the rate, term and amount you’d like to borrow. It’s a handy way to make sure your dream car fits within your budget.

Nearly ready to get started but need more detail first? Read 5 things you should know before you apply for a secured personal loan.

Alternatively, here’s everything you need to know about the Westpac Car Loan.



Things you should know

Personal Loan Contract Terms and Conditions (PDF 394KB) - for customers approved before 18 March 2024.
Personal Loan Contract Terms and Conditions (PDF 210KB) - ​for customers who apply, or are approved, on or after 18 March 2024.​

Credit criteria, fees and charges apply. Terms and conditions available on request.