ANZ Unsecured Car Loan

Moneybuddy says

The ANZ Car Loan provides finance for a new or used car (less than 7 years old), with your choice of a fixed or variable interest rate. You can borrow up to 100% of the car's value. The term of the loan can be 1 to 7 years. You can also include on-road costs, insurance and registration costs in some instances. The amount borrowed must be over $5,000. Loan administration charge (LAC) of $30 per quarter applies. If you choose ANZ Loan Protection, you may qualify for a 0.25% p.a. interest rate discount.

The Basics

Car type Used and New

Security Unsecured

Car loan type Conventional Car Loan

Start rate p.a. 13.95%

Interest Variable / fixed

Max. loan $100,000

The cool stuff: features

Loan insurance available? Yes

Repayment schedule Fortnightly or Monthly

Online application Yes

Redraw facility Yes

Early repayment allowed Yes

Additional repayments allowed Yes

The Facts & Figures

Comparison rate p.a. 17.07%

Min. loan $5,000

Min. term 12 months

Max. term 84 months

The ugly stuff: fees

Signup fee $150

Exit fee -

Monthly fee $10

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Key features

Borrow from $5,000
Loan terms of 1 to 7 years
Choice of fixed or variable interest rates
Make extra repayments and get a redraw facility with the variable car loan
Get certainty and protect against interest rate rises with the fixed car loan
If you choose ANZ Loan Protection, you may qualify for a 0.25% p.a. interest rate discount.

Pros

Choice of fixed or variable car loan
Variable loan allows extra repayments to save interest by paying the loan off faster
Variable loan has a redraw facility
Fixed loan comes with a lower interest rate
No upper loan limit