Westpac - Car Loan
Secured | Fixed | New or used car
The Car Loan from Westpac offers advertised interest rates from 6.49% p.a. and a borrowing range of between $10,000 and $100,000. The Westpac Car Loan is a Fixed rate, Secured loan with repayment terms of between 1 and 7 years. Comparison rates for this product starts from 7.69% p.a..
More Westpac Car Loan details can be found below or visit Westpac to learn more or apply.
A loan with a loan type of Secured with an advertised rate of 6.49% p.a. and comparison rate of 7.69% p.a.
Advertised Rate
From 6.49% p.a. to 12.99% p.a. Fixed
Comparison Rate
From 7.69% p.a. to 14.14% p.a.
Loan Term
1 to 7 years
Borrowing Range
$10,000 to $100,000
Interest
Rate Type
Fixed
Advertised Rate
From 6.49% p.a. to 12.99% p.a.
Fixed
Comparison Rate
From 7.69% p.a. to 14.14% p.a.
Application Frequency
Monthly
Calculation Frequency
Daily
Loan Security
Loan Security
Secured
Secured By
Vehicle
Loan Terms
Loan Term
1 to 7
years
Borrowing Range
$10,000 to $100,000
Repayment
Weekly, Monthly, Fortnightly
Features
Extra Repayments Allowed
Yes
Fees
Establishment Fee
$250
one off
Loan Service Fee
$12
per month
Early Repayment Fee
$175
per event
Late Payment Fee
$15
per event
Who is the product designed for?
This product is designed for a class of consumers whose likely needs, objectives and financial situation are aligned with the product and the product’s key attributes.
This product is for those who:
- Need a personal loan for a car purchase or car refinance that is provided over a fixed term with a fixed interest rate and secured with an eligible car. The loan amount may exceed the car's market value to cover the purchase price of the car and any other expenses.
Needs, Objectives and Financial Situation
This product is designed for consumers who:
- Need a personal loan for purchasing or refinancing a car that is used as security for the loan. The loan amount may exceed the car's market value to cover the purchase price of the car and any other expenses.
- Need interest rate and/or repayment stability during the life of the loan.
- Want certainty of the end date of the loan.
- Want a loan amount of a minimum $10,000 up to a maximum of $100,000.
- May want flexible repayment options.
- Are able to meet repayment obligations.
Key product attributes
- A lump sum loan provided for car purchase or car refinance where the car is used as security for the loan, and where the loan amount may exceed the car's market value to cover the purchase price of the car and any other expenses.
- A fixed interest rate for the life of the loan.
- A fixed repayment term from 1 to 7 years.
- A minimum loan amount of $10,000 up to a maximum loan amount of $100,000.
- Weekly, fortnightly, or monthly repayment options.
Visit Westpac to view Target Market Determination Effective From: 2024-10-04.
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