Your car-buying journey starts here
Finding the right car with carsales is just the beginning. Westpac can help you explore finance options for your next vehicle. Get started with your finance journey now.[#]
Finance your car with Westpac
Referred from carsales? Your finance journey starts here. Westpac can help make your next car purchase a smoother ride. Get your personalised rate and apply online with Westpac.
Get my rate
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Why choose a Westpac personal loan?
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Loan terms to fit your budget - Choose a term so repayments fit your budget with our fixed rate loans.
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$0 extra repayment fee - There's no fee if you want to make extra repayments, however a prepayment fee may apply.[#]
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Fast funds - Once your loan’s approved, customers with an existing Westpac transaction account can access funds within an hour of contract acceptance.[#]
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Apply with confidence - Calculate your personalised quote and repayments before you apply, then get a response in under 60 seconds.
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Use this calculator to help you estimate how much your personal loan repayments could be.
Repayment calculator
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Choose a personal loan
- product-service:personal-loans/unsecured-personal-loan
Unsecured Personal Loan
A quick overview:
Use this loan for a car older than 7 years or if you don't want to offer your car as security.
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Rates
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From
7.29% p.a.
Interest rate
From
8.69% p.a.
Comparison rate[#]
Weekly repayments of $82 based on a 7 year loan of $15K with an interest rate of 16.99% p.a. (comparison rate of 18.31% p.a.)[#]
Details
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- Annual fixed rate range - 7.29% p.a. to 22.19% p.a.
- Comparison rate range - 8.69% p.a. to 23.48% p.a.[#]
- Lending establishment fee - $250[#]
- Monthly loan account fee - $15
- Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan) - $175
- Missed payment fee - $15
- Bank cheque fee - $10
Other fees and charges may be payable.
Features
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- Borrow: $4K - $70K
- Same day funding
- Loan terms to fit your budget
- No need to offer your car as security
- A structured repayment schedule with a fixed interest rate and defined end date
- Choice of weekly, fortnightly or monthly repayments
- Existing Westpac Transaction account holders can access funds within an hour of contract acceptance.[#]
Apply now
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- product-service:personal-loans/car-loan
Car loan
A quick overview:
Use for eligible petrol, diesel or LPG cars. This loan is secured against the car you are buying, and you may enjoy a lower rate than the Unsecured Personal Loan.
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car
Rates
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From
6.49% p.a.
Interest rate
From
7.90% p.a.
Comparison rate[#]
Weekly repayments of $144 based on a 7 year loan of $35K with an interest rate of 8.49% p.a. (comparison rate of 9.67% p.a.)[#]
Details
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- Petrol/diesel/LPG annual fixed rate range - 6.49% p.a. to 12.99% p.a.
- Comparison rate range - 7.90% p.a. to 14.34% p.a.[#]
- Lending establishment fee - $250[#]
- Monthly loan account fee - $15
- Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan) - $175
- Missed payment fee - $15
- Bank cheque fee - $10
Other fees and charges may be payable.
Features
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- Borrow: $10K - $130K
- $0 extra repayment fee
- No balloon payment
- A structured repayment schedule with a fixed interest rate and defined end date
- Option to borrow extra funds to cover other expenses, such as insurance, registration and optional extras
- Choice of weekly, fortnightly or monthly repayments
- Option of Electronic Funds Transfer direct to seller on final approval
Apply now
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- product-service:personal-loans/electric-car-loan
Electric Car loan
A quick overview:
Use for eligible electric or Plug-in Hybrid Electric Vehicles (PHEV). This loan is secured against the car you are buying, and you may enjoy a lower rate than the Car Loan.
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car
Rates
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From
5.74% p.a.
Interest rate
From
7.16% p.a.
Comparison rate[#]
Weekly repayments of $200 based on a 7 year loan of $50K with an interest rate of 7.99% p.a. (comparison rate of 9.39% p.a.)[#]
Details
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- Electric annual fixed rate range - 5.74% p.a. to 8.49% p.a.
- Comparison rate range - 7.16% p.a. to 9.88% p.a.[#]
- Lending establishment fee - $250[#]
- Monthly loan account fee - $15
- Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan) - $175
- Missed payment fee - $15
- Bank cheque fee - $10
Other fees and charges may be payable.
Features
star-rate
- Borrow: $10K - $130K
- $0 extra repayment fee
- No balloon payment
- A structured repayment schedule with a fixed interest rate and defined end date
- Option to borrow extra funds to cover other expenses, such as insurance, registration and optional extras
- Choice of weekly, fortnightly or monthly repayments
- Option of Electronic Funds Transfer direct to seller on final approval
Apply now
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- product-service:personal-loans/hybrid-car-loan
Hybrid Car loan
A quick overview:
Use for eligible hybrid cars. This loan is secured against the car you are buying, and you may enjoy a lower rate than the Unsecured Personal Loan.
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car
Rates
dollar-sign
From
6.49% p.a.
Interest rate
From
7.90% p.a.
Comparison rate[#]
Weekly repayments of $200 based on a 7 year loan of $50K with an interest rate of 7.99% p.a. (comparison rate of 9.39% p.a.)[#]
Details
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- Annual fixed rate range - 6.49% p.a. to 10.29% p.a.
- Comparison rate range - 7.90% p.a. to 11.66% p.a.[#]
- Lending establishment fee - $250[#]
- Monthly loan account fee - $15
- Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan) - $175
- Missed payment fee - $15
- Bank cheque fee - $10
Other fees and charges may be payable.
Features
star-rate
- Borrow: $10K - $130K
- $0 extra repayment fee
- No balloon payment
- A structured repayment schedule with a fixed interest rate and defined end date
- Option to borrow extra funds to cover other expenses, such as insurance, registration and optional extras
- Choice of weekly, fortnightly or monthly repayments
- Option of Electronic Funds Transfer direct to seller on final approval
Apply now
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Save time, apply online
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About you
Make sure that you and your car meet all the eligibility requirements.
If you're an existing Westpac customer, we'll fill in the information we have about you to speed things up.
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Your identity
Not already a Westpac customer? You'll need 2 forms of ID:
- Passport
- Driver licence
- Birth certificate
- Medicare card
- NSW photo card
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Apply online
Once you submit your application, you'll know if you're conditionally approved. Which means you know how much you could borrow.
Don't want to apply online? Call us on 132 651 (8am - 8pm, 7 days a week) or visit a branch.
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Apply now
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What you need to know before and after you apply
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We recommend a before tax annual income of at least $25,000.
To help us assess your application, have details of your income, expenses, debts and financial commitments ready.
Your eligibility
You must:
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Be 18 years or older
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Hold a current Australian driver licence or learner's permit
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Be one of the following:
- An Australian or New Zealand citizen
- An Australian permanent resident and hold an acceptable visa
- A non-resident or migrant and hold an acceptable visa. Must have at least 1 year before expiry
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Have a fixed, Australian address
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Receive a regular, Australian taxable income.
Car Loan eligibility
As your car is used as a guarantee for your loan, it must:
- Be for personal use
- Be 7 years old or less at the time of loan application
- Be imported by the manufacturer
- Never been written off, even if it was repaired
- Be comprehensively insured, with Westpac showing as the financier
- Registration details (Not mandatory for new cars)
- VIN/Chassis number.
Electric or Hybrid Car Loan eligibility
The electric or hybrid car you buy with a Westpac Car Loan will be used as security for the loan. In addition to the Car Loan eligibility above, it must be an eligible:
- Electric Vehicles (EVs) - run entirely on battery power — no petrol needed. Examples: Tesla Model Y, BYD Seal, Zeekr 7X
- Plug-in Hybrid Electric Vehicles (PHEVs) - use petrol and electric power, but the key difference is they can be plugged in and charged — just like an EV. Because of this, PHEVs qualify for an Electric Car Loan. Example: Mitsubishi Outlander PHEV
- Hybrid Vehicles - also use petrol and electric power, but they can't be plugged in — the battery charges itself while driving. These are not eligible for an Electric Car Loan. If your car is a standard hybrid, choose a Hybrid Car Loan instead. Examples: Toyota RAV4 Hybrid, Kia Sportage Hybrid.
If your car doesn't meet the criteria, consider our Unsecured Personal Loan.
You'll be assessed on your ability to repay the money you borrow. Three things you can do to help:
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Make sure you're meeting your current repayment obligations for:
- Other credit cards or loans (including lenders such as Afterpay and Zip Pay)
- Rent as well as utilities such as your phone, internet and electricity
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Check the details on your credit report are correct before applying. Head to CreditSmart.org.au and follow the links to get a free credit report. More about credit reports
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Don't make multiple applications (with us or any other lender). Every application is listed as an enquiry on your credit report. Too many can be seen as a red flag and reduce your chances of approval.
Current debts and expenses
Current debts: any loans, credit cards, or 'buy now, pay later' plans in your name (e.g. home loan, personal loans, other credit or store cards as well as instalment purchases such as Afterpay and Zip Pay).
Monthly expenses: all your regular expenses, including phone bills, insurances etc.
Proof of income
If your pay doesn't already go into a Westpac account, you'll need to show at least one of the following:
- Two most recent consecutive payslips from your main employer (must be less than 60 days old)
- A Government Authority statement confirming your pension or allowance (from the last 2 months)
- Rental income proof (from the last 3 months).
Self-employed? You'll need to show:
- You've been in business for at least 18 months
- Business bank statements (from the last 2 months)
- Notice of Assessment (from last year).
Other details: any assets, savings or investments you might have.
Keep in mind: If you're a tax resident of another country, you'll need your foreign tax identification number.
Status and further details
You can track the status of your loan application with our Online Status Tracker. If we need more information from you, we'll contact you by phone or email.
Conditional approval
If you're conditionally approved, you may need to email documents to us for verification.
Confirming and accepting your loan
We'll email you within 2 business days to confirm if your application's been approved.
Review and accept your contract
You can do this securely online. Tell us which account you'd like the funds to be sent to. Allow 1 business day for the funds to be sent to a Westpac account and up to 3 business days for a non-Westpac account.
Keep in mind: Non-Westpac customers will need to come into a branch to be identified after accepting their contract.
Found the car you want?
Give us your car details
To help process your car loan smoothly, you'll need to tell us a bit about the car. This helps us understand the type of sale, check the car's details and make sure all the right documents are in place.
Car dealer or auction: If you're buying your car from a dealer or at an auction, we'll need a dealer's tax invoice or contract of sale with the required information in the car purchase detail checklist.
Private sale: If you're buying your car from a private seller, we'll need the registration papers and a completed confirmation of car purchase form.
Frequently asked questions
What's a rate quote?
Your Westpac Personal Loan interest rate is based on your own details.
A rate quote shows your personal interest rate and what your monthly repayments might be if you're approved.
What's a balloon payment?
A balloon payment is a lump sum paid at the end of your loan term and is usually charged by car dealers. With a Westpac Car Loan, there's no balloon payment - you'll fully pay off your loan and own the car by the end of the loan term.
What's the difference between a car loan and an unsecured personal loan?
A car loan can help you buy a new or used car for personal use.
Westpac Car Loans usually have lower interest rates than Westpac Unsecured Personal Loans because the car is used as security for the loan.
An unsecured personal loan doesn't need any assets as security.
You can use it for many things like paying off other debts, buying a car, home renovations, education, medical bills, travel, or a wedding.
To qualify for a car loan, you and your car must meet all criteria. You'll find all the details in the 'What you need to know before and after you apply' section.
Can I refinance my existing car loan?
Yes, you can apply to refinance your car loan with Westpac - even if your current loan is with another lender.
To be eligible, both you and your car need to meet Westpac's eligibility criteria.
If your loan is with another lender, you'll need to provide a statement showing how much you still owe.
Can I make extra repayments?
Yes, you can. There's no fee to make additional loan repayments. However, you may be charged a prepayment fee if you pay off the loan in less than 2 years. Read our 'Loan fees' section for details.
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