Your dream car could be closer than you think with a Westpac Car Loans. With a Westpac Car Loan, you could.
Let’s get started on how to get Westpac Car Loans.
- Our new, better rate. 7.49% p.a. (comparison rate 8.68% p.a. ^), fixed for 1-7 years.
- Get a lower interest rate than our other Personal Loans by using your car as security ^^
- Borrow $10,000 – $100,000 to buy a new or used car, repaying it over 1-7 years (conditions apply) #
- Choose a repayment frequency to suit you – weekly, fortnightly or monthly
- Make planning easier as the fixed rate means your repayments will stay the same for the life of the loan
- Negotiate confidently with the seller, as you’ll know how much you can spend
- Borrow an additional 10% of the car’s value to help cover incidentals and on-road costs, provided the total amount is within your approved limit
- Feel confident buying a used car, with our complimentary check of the car’s reported history which can cover its expected value, if finance is owing or if it’s been previously been written off or stolen
- Save time as we’ll manage the final payment to the dealer or private seller for you.
Did you know?
Securing your loan with the car gives you a better rate than other loan types. If you’re unable to make repayments and haven’t applied for financial hardship, we may reclaim your car. If you don’t want to secure the loan or your car isn’t eligible to offer as security, you could instead use an Unsecured Personal Loan.
How to buy a car with a Westpac Car Loans
Apply online
Fill in your details and the amount you’d like to borrow. It only takes 10 minutes and we’ll contact you regarding our decision, usually within 2 business days.
See what you can spend
Once you have conditional approval, use our car search tool to confirm the model of the car you want to purchase. We’ll check that it’s valued correctly.
Find the car
You then have 30 days to find the car and send us the details. You’ll also need to take out comprehensive insurance before you settle the loan.
Pay your way
You’ve found the car and shared all the details with us. Now, you can choose to pay the seller immediately or later, by electronic transfer or cheque.
Our Car Loan comes with a fixed rate, meaning that you have the certainty of a set repayment amount throughout the life of the loan. You can also make extra repayments to pay off your loan faster, giving you the best of both worlds (prepayment fee may apply#).
Key rates and fees
| Rate or fee | Amount |
|---|---|
| Annual fixed rate | 7.49% p.a. |
| Comparison rate | 8.68% p.a.^ |
| Establishment fee | $250 |
| Monthly service fee | $12 |
Other fees and charges may be payable. Find out how you can minimise fees and charges on your loan.