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Westpac Car Loan

The Westpac car loan offers borrowers up to $100,000 for the purchase of a new or used car. This secured loan is offered with a fixed 8.49% p.a. interest rate and the repayment period can be extended for up to 7 years.

  • Borrow between $10,000 and $100,000 - for a new or used car, which is used as security for the loan (conditions apply)
  • Low fixed interest rate - at 8.49% p.a. protecting you against changing interest rates with fixed minimum payments that won't change for the life of the loan
  • Choose the frequency of your repayments to suit when you get paid - weekly, fortnightly or monthly 
  • Terms of between 1 and 7 years
  • 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
  • Extra repayments - You may extra repayments on this car loan - but if you choose a term greater than 2 years and pay back the loan in less than 2 years, a fee of $175 applies.
  • $12 monthly service fee

If you choose a term greater than 2 years, and pay it out in less than 2 years, there is a prepayment fee of $175. This fee is waived if you pay out your personal loan by re-financing to another Westpac personal loan

Once you have submitted your online car loan application Westpac will be back in touch with you within 24 hours with a decision on your application. If your loan application is succesful Westpac give you 30 days to find your car and finalise the deal. Once you have identified the car you wish to purchase you will need to provide a copy of your car dealer’s invoice and registration papers, sign your Westpac car loan contract and return it back to Westpac. Once Westpac recieve this documentation they will issue a bank cheque so you can finalise your car purchase and take ownership of the car. If you are looking to purchase a used car, you could finance a car of any age or value by taking out an unsecured Westpac Flexi Loan

Standard Rates
Min. Current Rate 8.49% p.a.
Comparison Rate 9.67% p.a.
Loan Features and Terms
Product Details Secured Loan with a competitive fixed rate, with loan terms over a period of 1 to 7 years, borrow up to $100,000 for a new or used car.
Min. Loan Amount $10,000
Max. Loan Amount $100,000
Min. Loan Term 1 years
Max. Loan Term 7 years
Repayment Options Weekly, Fortnightly or Monthly
Security Yes
Car Type New or Used
Application Fee $250
Monthly Service Fee $12
Early Repayment Penalty $175
Missed Repayment Penalty $9
Document Release Fee $0

What happens when I click "Go to site"?

  • 1

    Clicking Go to site will direct you to the providers web site

  • 2

    Complete the online application on the providers web site

  • 3

    Once approved the provider will issue your new product, delivery times will vary by provider.