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Car Loan

Car Loans

From 11.04%

  • Attractive money-saving features
  • No penalties when closing out (on variable rate loans)
  • Save today with our low variable rate
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Key Features

Super low variable rate

Free & unlimited extra repayments

Free & unlimited online redraws

Loan period from 1 to 7 years

Loan splitting

Loan approval open for 90 days

Car Loan Benefits

Discover flexible features and smart tools to save on interest and manage your car loan effortlessly.

Operate Your Loan Like a Bank Account

Manage your loan just like a bank account, with the potential to save hundreds in interest.

Deposit Your Salary Directly

Reduce interest costs by depositing your salary directly into your loan account.

Make Additional Repayments Without Penalty

Pay off your loan faster by making extra repayments anytime, without incurring penalties.

Access Additional Repayments with Redraw

Redraw your extra repayments whenever you need them with free and unlimited online withdrawals.

90-Day Loan Approval

Take advantage of a 90-day loan approval window, giving you the flexibility and confidence to find the perfect car and secure the best deal.

Multiple Accounts Under One Loan

Split your loan into separate accounts for personal, business, fixed, or variable purposes—all under one loan.

Easily Transfer Your Loan Between Cars

Transfer your loan seamlessly from one car to another, saving you time and money.

Car Loan Details

Get a clear overview of rates, repayment options, and features tailored to your loan needs.

Interest rates from

11.04% p.a.

The comparison rate is based on a loan of $30,000 over 5 years. Fees and charges may be payable. WARNING: This comparison rate is 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.

Comparison rate^

11.24% p.a.

Interest rates from

11.24% p.a.

The comparison rate is based on a loan of $30,000 over 5 years. Fees and charges may be payable. WARNING: This comparison rate is 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.

Comparison rate^

11.29% p.a.

Maximum LVR

125%

Minimum loan amount

$5,000

Maximum loan amount

$450,000

Minimum loan term

1 year

Maximum loan term

7 years

A loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over the set period of time (the loan term). P&I can also be the abbreviation term for principal and interest.

Principal & interest

A variable interest rate is an interest rate on a loan that fluctuates over time, because it is based on an underlying benchmark interest rate or index that changes periodically. As a result, your repayments could increase or decrease.

Variable interest rate 

A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. It makes budgeting easier - you know exactly what you're repayments will be so you can set a realistic budget.

Fixed interest rate

Each payment cycle (normally monthly), a repayment must be made, regardless of whether you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount.

Payment required

Money IN - Allows you to make additional repayments without penalty.

Additional repayments

Money IN - A direct debit is an automatic payment that is setup to repay your loan. You specify the frequency as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.

Direct debits 

Money IN - The ability for your employer to pay directly into your loan account.

Salary credits

Money IN - The ability for an external partly to pay directly into your loan account.

Direct credits

Money IN - The ability to pay your loan via a unique biller code from another financial institution.

BPAY in

When buying a new or used car.

Purchase

Getting a new loan to replace the current is called refinancing. This is done to obtain a lower interest rate, better loan terms, or move your current loan from one provider to another.

Refinance

Money OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.

Redraw facility

No fee to pay each and every year.

No package fee (excluding stretch feature)

The access via the internet to view and administer your car loan.

Internet access

Money OUT - You can pass on your loan BSB and account number to another financial institution in order to take money periodically from your loan account.

3rd party direct debits 

Money IN and money OUT - A payment made to your loan account or an amount taken from your loan account either via internet transfer, employee payroll transfer or by an external party.

3rd party protocol friendly

Ability to have many separate accounts under one loan for multiple purposes, such as personal and business splits, fixed and variable splits, etc.

Loan splitting

You can switch your loan variable interest rate to a fixed interest rate (subject to the terms and conditions of your loan).

Loan switching 

Money OUT - The ability to pay via a unique biller code to another financial institution.

BPAY out

A feature that enables a loan to be transferred from one car to another, without refinancing. It can be of benefit by saving on loan set-up fees.

Loan portability

The loan approval stays open for 90 days, allowing you sufficient time to find a car, make an offer and negotiate the best terms.

Loan approval period

Monthly fee

Up to $10

Package fee

$0

Application fee

$0

Settlement fee

$445

Important Notice

My Personal Loan has an extensive range of loan options available. Some features set out in the table above may not apply to all loans.

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Car Loan Calculator

Finding the right car loan is simple—use our car loan calculator to estimate your repayments with ease.

Loan Amount
How much would you like to borrow?
$
Min: $5,000 Max: $450,000
Loan Period
What is the length of time you require to repay the loan?
Years
Min: 1 Year Max: 7 Years
Interest Rate
The proportion of a loan that is charged as interest to you, typically expressed as an annual percentage of the loan outstanding.
% p.a.
Loan Type
A principal and interest loan is a loan in which both the principal and the interest are repaid over the term of the loan.~ An interest only loan is a loan in which for a set term, you only pay off the interest that arises from the principal that is borrowed. However, interest only loans do not last indefinitely, meaning you will need to pay off the principal of the loan eventually.
Your Repayments

Weekly

Fortnight

Monthly

Important Disclaimer: This calculator is only a guide. Details of terms, conditions, interest rates, fees and charges are available upon application. A credit criteria applies. We recommend you seek independent legal and financial advice before proceeding with any loan.

Begin Your Path to Financial Freedom Today!

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