Bankwest Car Loan

Enjoy a flexible car loan with same-day funding for existing customers.

The Bankwest Car Loan is a flexible loan suited to a range of vehicles. It comes with a competitive fixed rate and the flexibility to make extra repayments and redraw on those payments. If you're a Bankwest customer with at least three months of salary history in your Bankwest account, you may be approved for funds for your new or used car on the same day you apply. You must apply before midday to qualify.

Product NameBankwest Secured Car Loan
Interest Rate (p.a.)From 7.99% (fixed)
Comparison Rate (p.a.)8.76%
Interest Rate TypeFixed
Min Loan Amount$10,000
Max Loan Amount$100,000

Things to consider about the Bankwest Car Loan

You can apply for between $10,000 and $100,000 and have up to 7 years to repay. The car you're purchasing can be from a dealer or private seller, with the vehicle you buy used as security for the loan. You can also use the loan to refinance an existing car loan, pay for home improvements or even a holiday as long as you provide security.

Features of a Bankwest Car Loan

  • Fixed payments. This loan comes with a fixed rate of 7.99% p.a., keeping your repayments the same throughout the loan term.
  • Flexible loan term. Bankwest offers loan terms of between 3 to 7 years to suit your budget.
  • Additional repayments. You can make extra repayments when paying off your Bankwest Car Loan. However, paying off this loan early will attract an early repayment fee of $250 in the first year and $100 in the second and third years. You will then need to pay the total interest amount that is owing at the time you terminate your loan.
  • Flexible loan purpose. You have a few options when it comes to using the loan amount. If your car is worth over $10,000 and less than seven years old you can secure it against the loan and then use the funds for any purpose.
  • Redraw facility. You can redraw on any additional payments you make above your minimum repayments.
  • Same day funds. If you are an existing Bankwest customer and have at least three months salary deposited in your Bankwest account, you can be approved for the loan today. You will need to apply before midday, have submitted a complete application, and not be applying for a guarantor secured loan.

How much will the loan cost:

The following fees apply to this loan:

  • Application fee. This is $299 but you will only pay this once the loan is disbursed.
  • Monthly fee. There's a monthly fee of $5 which is charged with this loan. There are other fees and charges that may apply during the credit period, for example, Government charges.
  • Early repayment fees. If you repay your loan early you will be charged fees. The fee is $250 for repaying your loan in the first year, and $100 for repaying your loan in the second and third years. You will also need to pay the total interest calculated at the time you terminate the loan.

How to apply for the Bankwest Car Loan

Bankwest provides an online application process that can be completed in a few minutes. Make sure you meet the following criteria to apply:

  • You're over 18
  • You are a permanent Australian resident
  • You have a regular, permanent income
  • You don't have conditional approval on another personal loan

This is even faster for existing customers since they can easily do this via online banking. If you cannot finish your application for a given reason, you can save it and resume later. When forwarding your inquiry, you will need to have:

  • Your personal and contact details
  • Your driver's licence number
  • Employment details such as the length of your employment and your employer's contact numbers
  • Financial details, including your income, assets and expenses

Once you've submitted all the required details, your application for a Bankwest Car Loan will be verified and approved. You can always check your application status online.

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Car Loan Offers

Important Information*
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IMB New Car Loan

You'll receive a fixed rate of 5.49% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Latitude New and Used Car Loan
Latitude New and Used Car Loan

You'll receive a fixed rate of 6.99% p.a.
Apply for a loan from $5,000 to finance a new or used car. Flexible repayments and options to finance a classic car.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 5.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 5.69% 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. Note: Product only available to residents of Victoria.

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22 Responses

  1. Default Gravatar
    RickyJuly 29, 2016

    Hey my name ricky I am around 10 grand in dept not working but I am getting a stable income disability pension most of these are ambulance bills not being covered by hbf at the moment and I have heart condition too but what do I do to get a 10,000 loan or even 2,000 thanks

    • Avatarfinder Customer Care
      ElizabethAugust 1, 2016Staff

      Hi Ricky,

      You can compare lenders that consider those on a pension for loans on this page. Keep in mind that you will need to meet the minimum eligibility criteria and you will need to show that you’ll be able to afford the repayments to be approved, so your debt will be considered. It may be a good idea to talk to the lenders directly before submitting your application.

      I hope this helps,


  2. Default Gravatar
    JustinJuly 20, 2016

    Are you able to pay the application fee with the money from the loan or do you have to pay the fee first

    • Avatarfinder Customer Care
      ElizabethJuly 20, 2016Staff

      Hi Justin,

      The application fee is added onto your loan balance (whatever loan amount you apply for) and you pay it off with the loan. You won’t have to pay the fee upfront.

      I hope this helps,


  3. Default Gravatar
    JanFebruary 4, 2016

    Wish to borrow 40000 to clear all my credit cards and have one loan unsecured . What do I need to do?

    • Avatarfinder Customer Care
      ElizabethFebruary 5, 2016Staff

      Hi Jan,

      As this loan is a secured car loan it may not be what you’re after – you can compare unsecured debt consolidation loans on this page.

      I hope this has helped.



  4. Default Gravatar
    TarynAugust 27, 2015

    I need a loan up to $3000 to get my car registered and roadworthy ext and also giving my son what he needs for schooling and other expenses. Look forward to hearing from you soon.

    • Avatarfinder Customer Care
      ElizabethAugust 27, 2015Staff

      Hi Taryn,

      Thanks for your question.

      Unfortunately the minimum loan amount for this Bankwest loan is $10,000. You can compare your other loan options for up to $5,000 on this page.

      I hope this will help.



  5. Default Gravatar
    GraemeJune 24, 2015

    Hi Elizabeth,
    May I have a call to discuss this further and to see the details of such a loan.
    Regards Graeme

    • Avatarfinder Customer Care
      ElizabethJune 25, 2015Staff

      Hi Graeme,

      You can give Bankwest a call on 13 17 19 to discuss details of the loan and also to apply over the phone if you decide this is an option for you.



  6. Default Gravatar
    GraemeJune 24, 2015

    I wish to borrow $26,000 for a Lexus LX470 2004 model.
    Is this possible with bankwest?

    • Avatarfinder Customer Care
      ElizabethJune 24, 2015Staff

      Hi Graeme,

      Thanks for your question.

      You’re able to apply for this loan if you’re looking to finance a new or used vehicle that’s between $10,000 and $100,000. You also need to meet the other eligibility criteria outlined on this page. If you’re unsure of the car you’re looking at buying, you may want to get in contact with Bankwest directly.

      I hope this has helped.



  7. Default Gravatar
    SelinaApril 21, 2015

    Hi Bankwest,

    I’m receiving centrelink payments but my husband has full time employment, could I still apply for a loan?

    Kind regards


    • Avatarfinder Customer Care
      ElizabethApril 21, 2015Staff

      Hi Selina,

      Thanks for your question.

      Just to clarify, you’ve come through to, an online comparison website, not Bankwest, but we can still assist with your question. Bankwest allows joint applications, so you could apply with your husband to increase your chances of being approved. In terms of eligibility, Bankwest requires you to be receiving some form of regular income, but does accept pension payments as a type of income.

      I hope this has helped.



  8. Default Gravatar
    GavMarch 18, 2015

    hi I was wondering what the fees are if I take the loan out over 5 years then pay it back a lot sooner

    • Avatarfinder Customer Care
      ShirleyMarch 18, 2015Staff

      Hi Gav,

      Thanks for your question.

      Early repayment fee applies if the loan is paid off in the first 24 months. This fee is calculated on a case by case basis as it depends on your loan amount and remaining loan term.


    • Default Gravatar
      GavMarch 18, 2015

      Say a $12000 loan taken out over 5 years then paid within 6months

    • Avatarfinder Customer Care
      ShirleyMarch 18, 2015Staff

      Hi Gav,

      The exit fee would be $250.


  9. Default Gravatar
    MinnaMarch 10, 2015

    My husband and I both have full time jobs. We are buying our home. We are looking to apply for 2 separate loans. My husband would like to refinance his motorbike loan of $12,000.00 to a cheaper rate over 5years. I wish to consolidate our 2 visa cards of $12,000.00 in total with a personal loan over 5 years. Can you assist us with this?

    • Avatarfinder Customer Care
      ShirleyMarch 11, 2015Staff

      Hi Minna,

      Thanks for your question.

      Bankwest can assist you with your enquiry. If you would like to discuss your eligibility or options, please get in touch with Bankwest directly.


  10. Default Gravatar
    BrendanMarch 26, 2014

    What are the restrictions on vehicle age for this loan?

    I know some institutions require the vehicle to be no older than ten years, and if that’s the case, is that ten years old at the date of the loan start or finish?

    Thank you.

    • Avatarfinder Customer Care
      ShirleyMarch 27, 2014Staff

      Hi Brendan,

      Thanks for your question.

      For the Bankwest car loan, the used car cannot be older than 10 years, if it is more than 10 years old, then the value cannot be under $10,000 (at the start of the loan).


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