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Australian Military Bank Car Loan

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Application Fee
$150
Interest Rate (p.a.)
From 6.95% (fixed)
Comparison Rate (p.a.)
7.89%
Max Loan Amount
$200,000

Summary

Borrow up to $200,000 to finance a new or used car, motorbike or boat.

This car loan from Australian Military Bank is a flexible loan that lets you finance a car, motorbike, caravan or boat as long as it's under 5 years old. You can borrow as little as $4,000.

Pros

  • Competitive, tailored rate
  • Low minimum loan amount
  • Finance motorbikes, boats or cars

Cons

  • Application fee from $150
  • $10 monthly fee

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask an expert

Details

Product details

Product Name Australian Military Bank Car Loan
Interest Rate (p.a.) 6.95% to 9.69%
Comp. Rate (p.a.) 7.89% to 11.12%
Interest Rate Type Fixed
Min Loan Amount $4,000
Max Loan Amount $200,000

Main points to consider with the Australian Military Bank Car Loan

This car loan comes with a personalised interest rate from 6.95% p.a. that will be based on your personal credit history. You can apply for a loan amount between $4,000 and $200,000 and select loan terms up to 7 years.

You must be financing a car, motorbike or loan up to five years old. Keep in mind an application fee of $150 applies as well as a monthly fee of $10.

Features of the car loan from Australian Military Bank

There are a number of features available with this loan, including:

  • Competitive, tailored interest rates. The interest rate for this loan will be tailored to your credit history. Interest rates start from 6.95% p.a. The comparison rate on this loan starts from 7.89% p.a.
  • Loan amount. You can apply for between $4,000 and $200,000.
  • Flexible loan terms. Choose your own loan terms between 1 year and 7 years. If you want to repay your loan ahead of schedule you can do so without penalty.
  • Vehicles you can finance. You're able to finance a motorcycle, car, caravan or boat that is less than five years old.
  • Salary repayment option. You're able to make repayments directly from your salary.

How much does the loan cost?

The following fees and interest rates apply to this loan:

  • Interest rate: You will receive a personalised rate from 6.95% p.a. based on your credit history.
  • Monthly fee: $10.
  • Application fee: $150.

How to apply for this car loan

Before you apply for this car loan make sure you (and any joint applicants) meet the eligibility criteria:

  • Over the age of 18
  • A citizen or permanent resident of Australia
  • Are currently employed or earning a regular income
  • Have not declared bankruptcy or insolvency or had any defaults in the last five years
  • Agree to become a member of Australian Military Bank

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

  • Details of your employment, income and living expenses
  • Information regarding your assets such as your savings and super
  • Details of any debts you owe, such as loans and credit cards
  • Your latest payslip

Remember to always compare car loan options thoroughly before submitting an application in order to find the best possible financial solution for your circumstances.

Compare car loan providers

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1 - 12 of 12
Updated regularly
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket Car Loan - Excellent Credit
ExclusiveFixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
6.57%
to 21.78%
Application Fee
$0
Monthly Fee
$0
Monthly Repayment
$613.62
Go to siteMore Info
Finder Exclusive: Apply by December 15th 2023 and if approved, OurMoneyMarket will waive the establishment fee for Excellent Credit Customers.
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
loans.com.au - New - Fixed Rate Special
Fixed3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
7.09%
Comp. Rate (p.a.)
8.21%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$638.73
Go to siteMore Info
You'll receive a fixed rate of 7.09% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.

CarMoney New Car Loan
ExclusiveFixed18 Months - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.89%
to 15.09%
Comp. Rate (p.a.)
8%
to 16.16%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$636.87
Go to siteMore Info
Finder Exclusive: Apply for and settle a car loan and get a $200 cashback. Limited time offer. Terms and conditions apply.
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.49% p.a. and comparison rates from 6.19% p.a.)
RACV New Car Loans
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
You'll receive a fixed rate from 7.29% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
Comp. Rate (p.a.)
7.36%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
CarMoney Used Car Loan
Fixed18 Months - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.2%
to 15.75%
Comp. Rate (p.a.)
6.71%
to 16.18%
Application Fee
$399
Monthly Fee
$0
Monthly Repayment
$622.43
Go to siteMore Info
RACV Used Car Loans
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
NRMA Used Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
Stratton Finance New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Stratton Finance Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
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Richard Finder

Editor

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Grant

June 17, 2014

Can I have a loan residual on this type of loan. Say 20%


Is there any penalty for early repayment?


Avatar

Shirley Liu Finder

June 17, 2014

Hi Grant,


Thanks for your question.


You can make early repayments without penalty. In terms of a loan residual, you’ll need to enquire about this directly to ADCU as this is handled on a case by case basis.


Cheers,

Shirley


Avatar

Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146). See full profile

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