Secured Car Loan

A personal loan that uses your car as security to borrow at a great fixed rate.


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. Close

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. 

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

Name Rate
Fixed interest rate 7.99% p.a.
Comparison rate 8.76% p.a.
Understand the comparison rate
Name Fee
Application fee $299
Monthly loan maintenance fee $5
Early repayment fee if loan is closed in first 12 months $250
Early repayment fee if loan is closed in 13-24 months $100
Rates are subject to change. Other fees and charges may apply. A full list of fees will be included in your personal loan contract.

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 based on a secured personal loan of $30,000 for a term of 5 years. 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 7.99% p.a. (8.76% p.a. comparison rate) the total amount payable is $37,087.87 including interest and fees. This example is an estimate only and assumes all repayments are made on time.

View our Secured Car Loan terms and conditions 

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

Apply today

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.


Things you need for your application

  • At least two forms of the following identification: 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
  • Financial information including income (e.g. payslips), expenses and assets.

Find out more about what you may need to provide.

Already started? Resume your application.

Looking for something else? 

If you’re not planning on using a car as security, we have other fixed rate loans to choose from. 

Need help choosing a personal loan?

Speak with someone from the team today.

Things you should know

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