Bendigo Bank Car Loan Review Fees & Interest Rates | finder.com.au

Bendigo Bank Car Loan

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Enjoy flexibility with a personal loan from Bendigo Bank. Offering a competitive fixed rate, this loan is the best way to pay for what you want without spending what you need.

If you don't have the money for a car right now a personal loan can be a good option to finance your vehicle. Personal loans come in both secured and unsecured loan types, each of which have their own strengths and weaknesses and which can suit different borrowers. Bendigo Bank has a secured personal loan option which is designed for people looking at purchasing a new or used vehicle, or using an existing vehicle as security to finance something else.

$150

Application Fee

From 7.79% (fixed)

Interest Rate (p.a.)

8.64%

Comparison Rate (p.a.)

$50,000

Max Loan Amount

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Details

Product NameBendigo Bank Secured Personal Loan
Interest Rate (p.a.)From 7.79% (fixed)
Comparison Rate (p.a.)8.64%
Interest Rate TypeFixed
Min Loan Amount$2,000
Max Loan Amount$50,000

Bendigo Bank car loans offer competitive interest rates, both secured and unsecured options as well as a car loan that rewards you for buying environmentally friendly products related to your car or home.

The product offers you a competitive fixed interest rate so you can plan your repayments without the worry of rising interest rates and offers both secure and unsecured options to suit your financial situation.

Bendigo Bank car loan features

There are a number of features found in Bendigo Bank's Secured Personal Loan which make it an attractive choice for people looking at financing a vehicle purchase. These features include:

  • Flexibility. Choose weekly, monthly or fortnightly repayments. This means you can tailor your repayments to suit your financial situation. If you work off a monthly budget, then you can opt to make your repayments each month for example.
  • Repayment options. You can make unlimited additional repayments with this loan. If your financial circumstances change for better or worse you can change your repayments so they suit your needs.
  • Ability to redraw. This loan lets you access additional repayments using a free online redraw facility. This is a great option which let's you get access to extra cash when you really need it and it also has the added convenience of the online access.
  • Choice. Choose your loan terms between 1 to 7 years with this loan. You can choose the term of the loan to fit how much your loan is and what you can budget for.
  • Value. With this loan you'll get a competitive fixed interest rate with a minimum loan amount of $2,000. Take out the loan you need and be confident with a competitive fixed rate.

How does a secured car loan from Bendigo Bank work?

Bendigo Bank offers both secured and unsecured options for personal loans. A secured personal loan is where you offer an asset as security in case of a default. In the case of a default on your loan the lender will repossess the asset. The interest rates for secured loans are lower because it is considered less of a risk for the lender. Take a look at the loan options offered by Bendigo Bank below.

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Bendigo Bank Secured Personal Loan
From 7.79% (fixed)
8.64%
$2,000
1 to 7 years
$150
$5
You'll receive a fixed rate from 7.79% p.a.
Perfect for buying a new or used vehicle, or to refinance an existing car loan.
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You can purchase a new or used vehicle with this secured loan from Bendigo Bank, or you can refinance an existing car loan. Loan amounts start from $2,000 and as the vehicle is used as security the rate is a competitive fixed rate 7.79% p.a. Loan terms are available from between 1 yearand 7 years. Even though the loan is fixed you can make unlimited additional repayments and access them through a redraw facility.

Is your car eligible for the secured personal loan?

  • More than $2,000
  • A new or used vehicle
  • Refinancing an existing loan

Fees

Some of these fees are mandatory, like the application fee, but others like the 'in branch redraw fee' can be avoided. Make sure you are familiar with all fees and charges before applying for a personal loan because you might save yourself some money.

  • Application fee of $150
  • Document preparation fee of $100
  • Security registration fee (at the rate applicable in your state)
  • Monthly service fee - $5
  • In branch redraw fee - $25
  • Early repayment fee - $20
  • Statutory fees and charges may apply

How does Bendigo Bank Car Loan compare with other car loan providers

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More Info

Interest rate

From 7.79% p.a.

Interest rate

From 3.85% p.a.

Interest rate

From 4.89% p.a.

Comparison rate

8.64% p.a.

Comparison rate

4.91% p.a.

Comparison rate

5.44% p.a.

Loan term

1 to 7 years

Loan term

1 to 7 years

Loan term

3 to 7 years

Loan amount

$2,000 to $50,000

Loan amount

$10,000 to $150,000

Loan amount

$2,000 to $100,000

Not what you're looking for?

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How you can apply

If you're ready to apply for this loan you can get your application started online.

Eligibility

First, make sure you meet the application criteria listed below:

  • You're over 18 years of age
  • You are an Australian citizen or permanent resident
  • There are no more than two applicants for the loan
  • You're listed on the loan as a borrower
  • You're in paid employment (subject to Bendigo Bank's lending criteria)
  • Have a good credit history
  • There are no payment defaults, court judgements or bankruptcies in your credit history
  • Use the loan only for personal purposes because it isn't for business or commercial purposes

If you meet this criteria you can proceed with the application.

Documentation

You'll need the following details on hand to apply:

  • Personal details, such as your name and contact information
  • Your driver's licence number and expiry date
  • Your income and employment information
  • Details of your assets and commitments

Bendigo Bank can provide you with a convenient and flexible way to finance your new or used car purchase, but have you compared all your options to ensure it's the right loan for you?

Compare car loan providers

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% 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. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Credit Concierge Car Loan
From 3.85% (fixed)
4.91%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 (Includes PPSR registration fee)
$0
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
OurMoneyMarket Car Loan
From 5.35% (fixed)
5.65%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
MoneyForJam Car Loan
From 3.25% (fixed)
5.82%
$5,000
1 to 7 years
From $1 to $990
$25
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 4.05% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
RACV New Car Loans
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% 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.
People's Choice CU Discounted Personal Loan (Car Loan)
From 4.65% (fixed)
4.99%
$20,000
1 to 10 years
$250
$0
Borrow over $20,000 and secure with a new or used car less than 2 years (manufacture year 2018).
Pre-approval, no monthly fees and fixed rate for 5 years.
loading

Compare up to 4 providers

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% 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 Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% 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 4.99% 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.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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34 Comments

    Default Gravatar
    Julie
    February 1, 2019

    If you work 45pf and have a part DSP pension, what are the chances of a car loan?

      Avatarfinder Customer Care
      Val
      February 6, 2019

      Hi Julie,

      Thank you for leaving a question! Car loan with Bendigo Bank would fall under a personal loan.

      To be eligible to apply for a Bendigo Bank personal loan you must:
      Be over 18 years of age
      Be an Australian citizen or permanent resident
      Be in paid employment (subject to Bendigo Bank’s lending criteria)
      Have a good credit history
      Use the loan only for personal purposes

      You may check directly with Bendigo Bank to discuss your information in detail if you evaluate that all eligibility requirements are met.

      Cheers,
      Val

    Default Gravatar
    Ben
    August 8, 2018

    How long will a pre-approval take for a car loan?

      Avatarfinder Customer Care
      Jhez
      August 8, 2018

      Hi Ben,

      Thank you for your comment.

      It may take just a few hours to get pre-approved for a car loan. Pre-approval for a car loan can last between 30 to 120 days depending on the lender. You can check our guide to car loan pre-approvals to get some tips and see the ins and outs of pre-approved car loans. I hope this helps.

      Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.

      Regards,
      Jhezelyn

    Default Gravatar
    Lisa
    September 26, 2017

    Hi, I’m just trying to find the best/cheapest interest rate on a loan to consolidate 2 credit cards. Thank you

      Avatarfinder Customer Care
      Rench
      September 26, 2017

      Hi Lisa,

      Thanks for your inquiry.

      Since you are looking to consolidate 2 credit card balances, you have a few options available to you.

    • Debt consolidation personal loan. This involves taking out a new personal loan with a lower interest rate and fees than your current one and transferring your debt across.
    • Balance transfer credit card. This allows you to apply for a new credit card with a limit higher than your personal loan debt and transfer your debt onto the card. You’ll then pay a promotional 0% p.a. rate for a limited period of time on the debt, after which a standard rate (usually above 20% p.a.) will apply.
    • You can press the link above and you will then redirected to the page where you can compare your options. Once you have chosen a particular lender/credit card, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with your application or get in touch with their representatives for further assistance.

      Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      Best regards,
      Rench

    Default Gravatar
    Kel
    June 30, 2017

    Hi, I have had previous bad credit and also on carers and single parent pension, also receiving child support and a private payment via my Bendigo account. I have been rejected via other finance as I fall below the national average. Are there any car loans that can help finance a car loan in this situation?

      Avatarfinder Customer Care
      Rench
      July 1, 2017

      Hi Kel,

      Thanks for reaching out to us.

      Please check our guide on car loans for single parents. It will give you helpful info and you can compare your options. You can also have a look on our page about bad credit car loans. You may make use of the loan calculator to give you an idea on how much you can borrow. I also suggest that you read more about how to improve your credit score to increase your creditworthiness.

      Hope this helps.

      Best regards,
      Rench

    Default Gravatar
    Quinn
    February 9, 2017

    Hey how’s it going,
    I’m just wondering where it states that (must be in paid employment) or subject to Bendigo banks lending criteria.
    I’m a full time carer on a centerlink payment is that considered as paid employment?
    Hope someone can let me know
    Thanks

      Avatarfinder Customer Care
      Dee
      February 10, 2017

      Hi Quinn,

      Thanks for reaching out.

      Bendigo Bank generally accepts Centrelink benefits as income, but the approval of your loan is subject to other eligibility criteria.

      You may want to check loans for Centrelink recipients featured on our website. Open that link and you should find a comparison table. Once you’re done comparing, please select the “Go to site” button to be safely redirected to your chosen lender.

      Please make sure that you have read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.

      Also if you can, contact first the lender and discuss your options and chances of approval before you send anything final for your application.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Anndy

    Default Gravatar
    Emma
    June 23, 2016

    How long does it take for Bendigo Bank to approve or reject a personal loan?

      Avatarfinder Customer Care
      Elizabeth
      June 23, 2016

      Hi Emma.

      This differs with each application but it can take a couple of days. Once you submit your application you can call up and check on its progress if you want to find out how it’s going.

      I hope this helps,

      Elizabeth

    Default Gravatar
    Jess
    June 7, 2016

    Hi there, does the Bendigo Bank secured car loan have a minimum age requirement of the car (like some lenders)?

      Avatarfinder Customer Care
      Elizabeth
      June 8, 2016

      Hi Jess,

      There is no set minimum age requirement that Bendigo Bank sets. When you apply you’ll need to note on your application if you’re only borrowing to purchase the car or if there is a secondary loan purpose, that is, if the loan amount will cover the full cost of the vehicle. Bendigo Bank will then review your application using the details you provide, including whether the vehicle is new or used.

      Hope this helps,

      Elizabeth

    Default Gravatar
    Julie
    May 3, 2016

    I am not after a cr loan , hat secured loan company’s offer such loans if possible please

      Default Gravatar
      Julie
      May 5, 2016

      Hi, Julie again. No not a question but a great THANKYOU for all of the information you have provided me with. I am most grateful Julie

      Avatarfinder Customer Care
      Elizabeth
      May 5, 2016

      No problems Julie, glad I could help.

      Elizabeth

      Avatarfinder Customer Care
      Elizabeth
      May 5, 2016

      Hi Julie,

      You can find a range of secured personal loans featured on our website.

      Hope this has helped,

      Elizabeth

    Default Gravatar
    Bb
    January 27, 2016

    Your criteria states a good credit rating
    My score is only average at 593 but I have no defaults in my credit history. Would I be eligible to apply for a secured loan?

      Avatarfinder Customer Care
      Elizabeth
      January 28, 2016

      Hi BB,

      As long as your credit history is free of payment default, court judgements or bankruptcy and you can afford the loan then you may be eligible to apply.

      I hope this has helped.

      Thanks,

      Elizabeth

    Default Gravatar
    JJ
    October 27, 2015

    How long must you be employed to qualify for a secured and/or unsecured loan of $23,000?

    Kind Regards,
    JJ

      Avatarfinder Customer Care
      Elizabeth
      October 27, 2015

      Hi JJ,

      Thanks for your question.

      Bendigo Bank has minimum criteria that just requires you to be employed – it is subject to its individual lending criteria as to whether the time you’ve been employed is sufficient enough to grant you the loan. Bendigo Bank will also consider your income, debts, assets and other financial commitments when considering you for a loan.

      If you have further questions regarding your eligibility you will need to get in touch with Bendigo Bank directly.

      I hope this information has been of use.

      Thanks,

      Elizabeth

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