ANZ Online Secured Car Loan

Information verified correct on May 27th, 2016

Enjoy a quick approval time so you can get into your new car sooner.

If you're purchasing a new, demo or used car or motorbike or are even looking to refinance a vehicle less than seven years old, the ANZ Car Loan might be a loan worth considering.

ANZ can provide you with a lending decision within three hours. It comes with a competitive fixed rate and flexible repayments options, so read on to find out if it's the right loan for you.

Things to consider with the ANZ Online Secured Car Loan

Product NameANZ Online Secured Car Loan
Interest Rate (p.a.)From 7.85% (fixed)
Comparison Rate (p.a.)8.7%
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$7,500
Application Fee$350
Monthly Service Fee$5
Loan SecuritySecured
Pros
  • Lower special online interest rate
  • Quick application process
  • Choose weekly, fortnightly or monthly repayments
Cons
  • Minimum amount being financed is $7500
  • $350 application fees applies
  • $5 ongoing service fee each month

As this is a secured loan, the vehicle you're looking to purchase will need to be eligible as a guarantee. To be eligible for this loan the car or motorcycle must be less than seven years old and you must be purchasing it for personal use. You can also be refinancing an eligible vehicle. Also, be aware that you're not able to make additional repayments or pay out your loan early without attracting penalty fees and/or break costs.

Features of the ANZ Secured Car Loan

  • Fixed rate. The ANZ Secured Car Loan has a competitive fixed rate of 7.85% p.a. so your repayments will remain the same for the entirety of your loan term.
  • Flexible loan purpose. The car you're looking to finance can be a new, demo or used car that's less than seven years old, a motorbike less than seven years old, or you can be refinancing a vehicle that fits any of these descriptions.
  • Minimum loan amount. The minimum amount you can borrow with this loan is $7,500, making it suitable for a wide range of vehicle purchases. The maximum loan amount depends on ANZ's assessment criteria.
  • Repayment options. You can choose to make your repayments for this loan every week, fortnight or month.
  • Quick application process. You can apply directly with ANZ online within 20 minutes. You'll receive a decision within three hours of applying.
  • Establishment fee. The ANZ Secured Car Loan has an establishment fee of $350. This fee is payable once you're approved and includes the costs of valuations, loan processing and documentation costs.
  • Administration charge. The charges for administration of the loan are $5 per month.

How you can apply for the ANZ Secured Car Loan

Applying for the ANZ Secured Car Loan is simple and easy – to begin, just click "Go to Site". The application won't take more than 20 minutes to apply and if approved, you will be contacted within three hours. First, make sure you meet each of the eligibility criteria listed below:

To be eligible for the ANZ Secured Car Loan you must:

  • Be at least 18 years of age
  • Be a permanent Australian resident or a valid work visa (457 or other diplomatic visas)
  • Have current employment or be a self-funded retiree
  • Not currently be bankrupt
  • Be looking to finance a car or motorcycle that's less than seven years old
  • Want to borrow at least $7,500

You'll also need the following details on hand to complete your application:

  • Current Australian driving licence, if you have one
  • Your employer's details including contact numbers and name, or if you've changed jobs in the last three years, your previous employer's details
  • Details regarding your income, expenses, assets and liabilities which includes details of other loans and credit cards.

The confirmation details will be sent to your email address to explain the next steps. Usually, the ANZ team will contact you within three hours of application if you have been approved to discuss your quote and advise you further. Then, the contract will be sent to you to complete.

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14 Responses to ANZ Online Secured Car Loan

  1. Default Gravatar
    jake | April 4, 2016

    Is there an early exit fee with this product?

    • Staff
      Elizabeth | April 4, 2016

      Hi Jake,

      This loan comes with a $50 administration fee plus $680 pro-rata for unrecovered costs of providing the loan if you choose to repay it early.

      To find out the early exit fees for more loans on finder.com.au, you can take a look at this page.

      Hope this will help,

      Elizabeth

  2. Default Gravatar
    Paros | December 3, 2015

    “To be eligible for this loan the car must be less than seven years old.”

    Would this mean the car/bike would have to be a 2008 or 2009 model given it is 2015?

    • Staff
      Elizabeth | December 3, 2015

      Hi Paros,

      The vehicle would need to be a 2008 model to be less than seven years old. It would be best to get in touch with ANZ to find out the eligibility of your vehicle.

      Thanks,

      Elizabeth

  3. Default Gravatar
    Alison | October 17, 2015

    I’m on a single parent pension and Family tax benefit A&B and have just gained casual employment. How long would I need to work for before I would be considered for a loan?

    • Staff
      Matt | October 19, 2015

      Hi Alison,

      Thanks for your comment. Unfortunately we are not in a position to comment on lending criteria as each institution have different criteria attached to each loan.

      If you’d like to get in touch with ANZ directly you may find out more information.

      If you’d like to compare a range of loans for casual employees you can read our guide here.

      I hope this has helped

      Cheers
      Matt

  4. Default Gravatar
    rob | July 6, 2015

    could I borrow for a new caravan and is it at the same rate

    • Staff
      Elizabeth | July 6, 2015

      Hi Rob,

      Thanks for your question.

      You’re able to use this loan to finance the purchase of a caravan but a few conditions need to be met. These include that you purchase the caravan through a dealership (not a private sale) and also that you currently own your own home either outright or with a mortgage.

      I hope this has helped.

      Thanks,

      Elizabeth

  5. Default Gravatar
    kevin | June 3, 2015

    I am a temporary resident and have visa of two years. I would be a permanent resident in an year. I have a very good credit history and pay to repay my loan. Would i be provided any sort of loan personal or car loan?

    • Staff
      Elizabeth | June 4, 2015

      Hi Kevin,

      Thanks for your question.

      To be eligible for this loan you need to be a permanent Australian resident or hold a valid work visa – either a 457 Visa or other diplomatic visa. You can compare your other personal loan options available for temporary residents on this page.

      I hope this has helped.

      Thanks,

      Elizabeth

  6. Default Gravatar
    avinesh | May 15, 2015

    Hi, my name was put in credit Dada beaure few years back. I purchased few goods from courts for my brother, but he defaulted few payments for which the name was listed in credit data be aurea. Once I was informed, I paid of this amount. Just want to ask if I can happy for a car loan from anz. At the moment I HV my car loan with Bsp with a very good payment record.

    • Staff
      Elizabeth | May 15, 2015

      Hi Avinesh,

      Thanks for your question.

      According to ANZ’s criteria, they just require you not to currently be bankrupt in order to apply. You might want to get in contact with them to discuss your application and eligibility before submitting an application.

      I hope this has helped.

      Thanks,

      Elizabeth

  7. Default Gravatar
    lois | May 25, 2014

    I have a home loan with you would there be a cheaper application fee

    • Staff
      Shirley | May 28, 2014

      Hi Lois,

      Thanks for your question.

      You’ve come through to finder.com.au, an online comparison service. Unfortunately we don’t handle any of the products ourselves.

      Please contact the ANZ customer service team about this.

      Cheers,
      Shirley

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