Bank Australia - Used Car Loan
Secured | Fixed | Cars up to 7 years old
The Bank Australia Used Car Loan has an advertised interest rate from 8.95% p.a. with a loan type of Secured. The comparison rates start from 9.16% p.a. and the borrowing range will start from $1,000, with a loan repayment term of between 1 and 5 years. This loan has establishment fee of $150. The Used Car Loan will be a Fixed rate loan.
More information about the Bank Australia Used Car Loan can be found below or visit Bank Australia to learn more or apply.
A loan with a loan type of Secured with an advertised rate of 8.95% p.a. and comparison rate of 9.16% p.a.
Advertised Rate
8.95% p.a. Fixed
Comparison Rate
9.16% p.a.
Loan Term
1 to 5 years
Borrowing Range
$1,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
8.95% p.a.
Fixed
Comparison Rate
9.16% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 5
years
Borrowing Range
$1,000 to $100,000
Repayment
Weekly, Fortnightly, Monthly
Features
Extra Repayments Allowed
Yes
Fees
Establishment Fee
$150
one off
Loan Service Fee
$0
per month
Early Repayment Fee
$0
per event
Late Payment Fee
$0
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 to:
- Purchase a new or used vehicle up to 7 years of age.
- Purchase a new or used motorbike (road registered) up to 7 years of age.
- Refinance where original loan purpose was for purchase.
- Are aged 18 years or more and meet the credit assessment criteria for the product.
- Are able and willing to offer the vehicle as security for the loan, and security interest noted on the Personal Property Securities Register (PPSR).
- Need the certainty of a fixed interest rate and fixed repayments for the term of the loan.
- Need the flexibility to make additional repayments.
- Want to take advantage of a lower rate for low emissions and electric vehicles.
Visit Bank Australia to view Target Market Determination Effective From: 2023-11-23.
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