Car loans

It could be your first set of wheels, a family workhorse or even that dream ride.

But whatever car you're in the market for, with a Westpac car loan you get the essentials everybody should have - a competitive interest rate, fast access to your money and a repayment plan that suits what you can afford.

How it works

Sorting out finance for your new car is simple with Westpac. You can get a loan online for a new or a used car, with competitive interest rates and repayment terms that suit your budget.

Our loans are unsecured loans, so you won’t need to use your new vehicle as security.

You can apply to borrow up to $50,000 unsecured – or maybe more, depending on your circumstance.

Our standard loan terms run from 1 to 5 years, but if you’d prefer a different loan term, talk to one of our lending specialists to see if we can help.

Once you have applied, we won’t leave you waiting around. We can usually approve a loan within 48 hours (or less) and get the money into your account by the following business day.

Repayments and fees

We want to be upfront about what you will pay and why. Here’s what you need to know about our personal loan payments and fees:

Personal loans - Fees
Fee typeFee amount
Establishment and documentation fee
$100 per loan
Loan payment failed fee
$10 per failure 
Overdue payment
(You will be charged default interest in addition to the normal interest rate on any overdue balance until the overdue balance is paid.)
5% p.a.

See what your repayments could be

Before you apply for a loan, it’s important to make sure that the repayments are within your budget and suit your financial situation.

For example, if you borrow $10,000 over 3 years at 13.49% p.a. with a monthly repayment of $343, the total amount you’d need to repay would be $12,337 (including a $100 establishment fee).

Repayments

 

Use our personal loan calculator to get an idea of how much you can borrow,  what your repayments would be and how long you would need to make them for. 

Work out a payment plan >

How to apply

Applying for a Westpac Car Loan is easy - you can do it all online in a few minutes. 

  • Already a customer with Westpac One®?

    You can apply for a Personal Loan using Westpac One

    Apply in Westpac One
  • New to Westpac, or don't have Westpac One?

    If you're new to Westpac, or don't use Westpac One, you can apply for a Personal Loan online.

    Apply online

     

More about Car Loans

A secured loan is one that is protected by an asset that is used as collateral to get the loan. This means that if you do default on the loan, your asset such as your house or car can be taken by the lender. 

An unsecured loan doesn’t require any asset as collateral, and if you do miss payments there is no risk of your property being repossessed. 

Westpac provides unsecured personal loans so there is no need for your assets to be used as security. 

Most loan applications only take a couple of days to turn around. 

Once your loan gets the green light, the money should be in your Westpac account by the following day. 

No. There is absolutely no penalty or fee for early repayment. 

Give our team a call on 0800 177 277 to see how we can help.