Westpac Used Car Loan

Moneybuddy says

The Westpac Used Car Loan has a very competitive interest rate and loan terms of 1 to 7 years. Borrow between $10,000 and $100,000. Include up to an additional 10% of the car’s value in the total loan amount to use for on-road costs, such as insurance, registration and transfer costs. Know if your loan could be approved within 60 seconds of submitting your application*. Offer your car as security to get a competitive rate, lock in lower repayments and pay less overall than you could for an unsecured personal loan. If you apply today you access the current special fixed rate of 8.49% p.a. (9.67% p.a. comparison rate)!

The Basics

Interest Fixed

Car type Used

Security Secured

Car loan type Conventional Car Loan

Start rate p.a. 8.49%

Comparison rate p.a. 9.67%

Max. loan $100,000

The cool stuff: features

Loan insurance available? Yes

Repayment schedule Fortnightly or Monthly

Online application Yes

Redraw facility No

Early repayment allowed Yes

Additional repayments allowed Yes

The Facts & Figures

Min. loan $10,000

Min. term 1 year

Max. term 7 years

The ugly stuff: fees

Signup fee $250

Exit fee $175

Monthly fee $12

Comparison Rate Disclaimer -

Early Repayment Fee -

All product information comes from the product provider or an affiliate and to the best of our knowledge is correct at time of publishing. MoneyBuddy endeavours to keep product information up to date however we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. We recommend that you check the accuracy of all information provided on this website with the product provider. MoneyBuddy earns a referral fee from redirecting website users to a product provider's website. Further details are provided in relation to specific product information. Website users have no obligation to apply for a product or service that they may be referred to by this website.

Warning: These comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Westpac says

Get your dream car sooner with a Westpac Car Loan.

Key features

  • Lock in a special 8.49% p.a. fixed rate when you apply today
  • Choice of loan terms from 1 to 7 years
  • Borrow between $10,000 and $100,000 for a new car
  • $250 establishment fee
  • $12 monthly fee
  • Prepayment fee of $175 if your loan term is 2 to 7 years and you pay it off within 2 years

Pros

  • No early repayment penalty after the 2 year mark
  • Competitive interest rate
  • Make extra repayments when you have additional funds
 

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