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Used Car Loan

For used cars and motorbikes.

Two Bank Australia customers talking to each other

Our used vehicle rates

7.29%p.a.

Fixed interest rate

Effective 15 October 2026

7.50%p.a.

Comparison rate

Comparison rate based on a secured loan of $30,000 for 5 years. Terms and conditions, and other fees and charges, may apply.

Snapshot:
5 years – Maximum loan term for used vehicles
$1,000 – Minimum loan amount
$0 – Early repayment fee

Why us?

Fixed rates

The interest rate is fixed for the life of your loan.

Shared values

Rest assured that we don't fund industries that do harm, like fossil fuels or animal exports.

Fixed repayments

Take control of your budget with the certainty of regular repayments.

What it's for

Our Used Car Loan is for cars and motorbikes.

  • Used cars up to 7 years old with a maximum loan term of 5 years
  • Comprehensively insured

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  • Registered with the Road Traffic Authority
  • Buy or refinance an existing car loan

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What you get

StarStarStarStarStar
“It's great to be able to lend and bank with an ethical Australian institution, that doesn't mean I miss out on great service and friendly staff.”
Review by Blaise.
See more on Productreview.com.au
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A fixed rate

The interest rate is fixed for the life of the loan – there are never any repayment surprises.

Extra flexibility

Set up monthly, weekly or fortnightly repayments – whatever works for your budget cycle.

Fee-free extras

You can pay extra whenever you like without penalty. You can even pay your loan off early.

Calculate your repayments

See what your repayments could be with our fixed rate Used Car Loan.

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Fees and charges

Here’s what to expect with our Used Car Loan:

  • Establishment fee $150
  • Early repayment fee $0
  • Late payment fee $0

It pays to know. Read the Target Market Determination and this fact sheet to help you decide if this loan is right for you. See all rates and fees.

Start your application now

Apply for a car loan. All you need is your driver's licence or passport, and your Medicare card, to get started.

Apply now

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Things you need to know

General advice

This information is of a general nature only and does not take into account your objectives, financial situation or needs. Consider whether the product is appropriate for you before making a decision. Normal lending criteria, terms and conditions, fees and charges apply. All applications are subject to credit assessment and approval.

Used Car Loan terms and conditions

*Comparison rate: The Comparison Rate is based on a secured loan of $30,000 for 5 years. Additional fees and charges may be applicable. WARNING: This comparison rate is true only for the example given and may not include all fees and charges.

Lending for new vehicles is limited to Electric Vehicles (includeing ex-demonstrators with fewer than 1,000km). An Electric Vehicle is defined as a vehicle without an internal combustion engine (ICE).