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Secured Car Loan

A personal loan that uses your car as security to borrow at a great fixed rate.
Apply today
Resume an application

Drive off with less to pay off
Our Secured Car Loan rate just got lower

6.99%
p.a.

Promotional fixed rate

7.34%
p.a.

Comparison rate

Available on applications unconditionally approved between 24 May 2021 and 26 July 2021. Fees, charges and T&Cs apply. Rates are subject to change.​ Understand the comparison rate

Benefits

Repayment options to suit you

Choose the loan term - from three to seven years - and repayment frequency.

Great fixed rate

Have peace of mind knowing exactly what your repayments will be.

Make extra payments

Pay more than your minimum repayments as and when you choose. 1 An early repayment fee applies if you close the loan within the first two years.

Access surplus funds 24/7

Redraw online and on the go with the Bankwest App.

Is it right for you?

Our Secured Car Loan is great for buying a car, consolidating your debt, home improvements or taking a holiday. 

Save more with no application fees when you apply for a Secured Car Loan.

How it works

Borrow from $10,000 to $100,000 (up to 120% of the value of your security). As security for the loan, we accept:

Cars or motorcycles that are less than seven years old...

OR cars or motorcycles that are valued at least $10,000

Rates and fees

Swipe
Rates
Name Rate
Promotional fixed interest rate 2 Available on applications unconditionally approved between 24 May 2021 and 26 July 2021. Fees, charges and T&Cs apply. Rates are subject to change. 6.99% p.a.
Comparison rate 7.34% p.a.
Understand the comparison rate
Swipe
Swipe
Fees
Name Fee
Monthly loan maintenance fee $5
Early repayment fee if loan is closed in first 24 months $250
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Rates are subject to change. Other fees and charges may apply. A full list of fees will be included in your personal loan contract.

Secured Car Loan terms and conditions:

Your personal loan contract is made up of the Personal Loan Schedule and the Personal Loan terms and conditions booklet (PDF).

Get an idea of your repayments

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Here are your next steps...

Check your eligibility

  • People aged 18 years and over
  • Permanent Australian residents
  • Regular income of over $20,000 a year.

Note: Applications are subject to credit approval.

  • At least two forms of the following identification for the electronic ID check: Australian driver's licence, Medicare card, passport, birth certificate. Or see a handy list of other ID documents we'll accept.
  • Employment details, including length of employment and employer contact numbers
  • Info about your income, expenses, assets, credit cards and other loans.

Find out more about what you may need to provide.

Apply now

Apply faster in online banking. Already started? Resume your application.

If you’re not planning to use a car as security

Unsecured Personal Loan

We offer an Unsecured Personal Loan that’s great for things like consolidating your debt, renovating, buying a car or paying for an event.
Find out more

Need help choosing a personal loan?

Speak with someone from the team today.

Call us on 13 17 19
Find a branch

What’s the comparison rate?

It’s a tool that can help you identify the truer cost of a loan. It’s calculated using a standard formula that includes the interest rate, as well as certain fees and charges relating to a loan (not all fees and charges are included).

Comparison rate warning:

Comparison rate is calculated on the statutory assumption of $150,000 loan over 25 years but the minimum required loan amount is $200,000 for the Complete Home Loan Package. Different rates apply for different loan amounts and may depend on the duration of a fixed rate period or the ratio of the loan amount to the property value. WARNING: This comparison rate applies only to the example or examples given. Different 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.

Representative example of total loan cost: For $30,000 borrowed over a 5-year term at 6.99% p.a. (7.34% p.a. comparison rate) the total amount payable is $35,933.40 including interest and fees. This example is an estimate only and assumes all repayments are made on time.
 

  1. An early repayment fee applies if you close the loan within the first two years.

  2. Available on applications unconditionally approved between 24 May 2021 and 26 July 2021. Fees, charges and T&Cs apply. Rates are subject to change.​