Car hunt with confidence
Choose a Car Loan from Australia's oldest bank
Fixed interest rate with a 1-7 year loan term that fits your budget
Your rate and monthly repayments remain the same for the full loan term.
Speedy funding and 5-minute rate quotes with no impact on your credit score
Funds in your existing Westpac account within 60 minutes of contract acceptance*.
Borrow $10,000-$100,000 and get into your next car sooner^^
Option to borrow a little more to cover other expenses like insurance and registration.
More reasons to choose a Westpac Car Loan
- $0 extra repayment fee: There's no fee if you want to make extra repayments, however a prepayment fee may apply #.
- No balloon payment: Your loan is paid in full at the end of the loan term.
- Easy loan repayments: Use our award-winning app to make repayments +.
- Simple online document upload: Easier for you to provide us your car loan documents.
Get a personalised rate
We give you a personalised rate and estimated repayments based on your credit score and the loan details you provide to us.
Get your personalised rate and an estimate of your repayments for a Car Loan or Unsecured Personal Loan by answering a few questions. If you already bank with us, sign in to save time.
Repayment calculator
This calculator helps you estimate how much your personal loan repayments could be.**
Rates & fees
Rates
| Petrol/diesel/LPG annual fixed rate range | 6.49% p.a. to 12.99% p.a. |
| Comparison rate range | 7.69% p.a. to 14.14% p.a.^ |
| Median rate Around half of our customers receive the median rate or lower |
8.49% p.a. |
| Electric/hybrid fixed rate | 5.99% p.a.~ |
| Comparison rate | 7.20% p.a.^ |
Fees
| Lending establishment fee | $250## |
| Monthly loan account fee | $12 |
| Prepayment fee (applies if you choose a term greater than 2 years and pay it out in less than 2 years. This fee is waived if you pay out your personal loan by refinancing to another Westpac personal loan). | $175 |
| Missed payment fee |
$15 |
| Other fees and charges may be payable. | |
Before you apply for a Westpac Car Loan
Thinking of switching to an electric or hybrid car? Check that the model's on our list of eligible vehicles (PDF 364KB).
If your car doesn't meet the criteria, consider our Unsecured Personal Loan.
How to apply for a Westpac Car Loan
1. Check eligibility
Make sure that you and your car meet the requirements.
2. Simple application
Complete online application: To make it faster, we'll fill in the information we have about you if you're an existing customer.
Submit application: In 60 seconds, you'll know if you're conditionally approved, which means you know how much you could borrow.
3. Found the car you want?
Give us your car details: We'll need to verify the information before final approval.
- If you're buying from a dealer or auction, this would be a dealer’s tax invoice or contract of sale with the required information in the car purchase detail checklist (PDF 53KB).
- If you're buying from a private seller, you’ll need to provide the registration papers and complete the confirmation of car purchase (PDF 1MB) form.
We'll email you: To confirm if your application's been approved.
Review and accept contract: You can do this securely online. We'll then transfer the loan funds to the seller. If you've opted to borrow more than the value of your car, the remaining funds will be transferred to your nominated account.
Frequently asked questions
The interest rate for a Westpac Personal Loan is personalised to each customer. A rate quote lets you know what your individual interest rate and monthly car loan repayments could be for an approved personal loan. Get my rate
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Help when you need it
Things you should know
This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness of the information to your own circumstances and, if necessary, seek appropriate professional advice. Please consider your individual circumstances before applying for a Westpac Personal Loan. Credit criteria, fees, charges, terms and conditions apply. Information is correct as of 10 December 2024.
^Comparison rates: Comparison rates help you understand the true cost of a loan. All comparison rate examples shown are for a personal loan amount of $30,000 and a term of 5 years. WARNING: Comparison rates apply only to the example or examples given and may not include all fees and charges. Different loan amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- Car Loan repayment terms range from 1 to 7 years. Interest rate ranges and representative examples are based on a personal loan of $30,000 borrowed for 5 years with the interest rate of 6.49% p.a. (comparison rate 7.69% p.a.), the estimated total amount payable including fees is $36,224. The actual rate offered may be higher or lower than the comparison example above. Rates currently range from 6.49% p.a. to 12.99% p.a. (comparison rate from 7.69% p.a. to 14.14% p.a.)
#Prepayment fee: If you choose a term greater than 2 years for a Westpac Personal Loan, 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.
**Repayment calculator: Any calculations made by you using this calculator is intended as a guide only. It is for illustrative purposes only and is based on the accuracy of the information provided. The calculation is not an offer of credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The calculations should not be relied on for the purpose of making a decision whether to apply for a personal loan. Weekly and fortnightly repayment calculations - if your monthly repayments are $1000, fortnightly repayments are calculated by dividing $1000 by 2 and rounding up if required ($1000/2 = $500). Weekly repayments are calculated by dividing $1000 by 4 and rounding up if required ($1000/4 = $250).
##The lending establishment fee will be added to your loan amount. Please read full terms and conditions before making a decision to apply for a Westpac Personal Loan.
^^To qualify for a Car Loan, applicant must meet all credit criteria and the car offered as security must meet all criteria - either new or if used, cannot be older than 7 years at time of application, registered under the applicant's name, has been made locally or imported by the manufacturer, has never been written off (even if it was repaired), has a paid, fully comprehensive insurance policy with Westpac noted as the financier and is for personal use only. The loan amount may exceed the vehicle's market value, as reported by Redbook, to cover the purchase price of the vehicle and other expenses. If you're using a Westpac Car Loan to buy an electric or hybrid car, check our list of eligible vehicles. (PDF 364KB)
~Car Loan for eligible Electric or Hybrid engine types is subject to an interest rate discount of 0.5% p.a., applied at the time of application. Electric and Hybrid Car Loan interest rate, inclusive of 0.5% p.a. discount, is 5.99% p.a (comparison rate 7.20% p.a.^)
*Access to funds within 60 minutes: Available for existing customers who are approved for an Unsecured Personal Loan. Loan funds will be disbursed into an existing Westpac transaction account 60 minutes from when e-contract acceptance has been received. Funds requested to be transferred to a non-Westpac account will take up to 3 days.
+Award-winning app: Claim based on 'The Forrester Digital Experience ReviewTM, Australian Mobile Banking Apps, Q4 2023' and evaluation of five Australian Banks.
Credit provided by Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.