With competitive rates and flexible options, BOQ gives you more ways to save on a new car purchase.
One of the most effective ways to save money on a car is by finding one that gives you options to work with.
BOQ does this with its car loan which offers a range of flexible options, competitive rates and fast approval for the freedom to drive away sooner.
| Product Name | BOQ Car Loan |
|---|---|
| Interest Rate (p.a.) | From 7.39% (fixed) |
| Comparison Rate (p.a.) | 8.19% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Loan Security | Secured |
Things to consider about BOQ Car Loans
BOQ fixed rate car loans start at 7.39% p.a. With the full repayment amount determined at the start of the loan, you can know exactly how much is left to repay. If your financial situation means you can save money with additional repayments, BOQ variable rate car loans, starting at 11% p.a. let you make unlimited additional repayments to get even more value for money.
A flat $195 application fee applies and new loans may be subject to a $7.50 monthly maintenance fee.
Features of a BOQ Car Loan
- Schedule your own repayment plan. Choose from weekly, fortnightly and monthly repayment options to find a schedule that works for you.
- Manage your loan anywhere. Get easy access to manage your car loan online or over the phone with Internet banking and EasyPhone Banking access (excluding withdrawals, transfers and BPAY).
- Range of loan amounts available. Minimum loans of $5,000 mean you can make your purchase without borrowing more than you need.
- Control your loan term. The minimum loan term is only 1 year(s), the maximum is up to 7 year(s) and you have the freedom to choose what works for you to get more value for money.
- Get low rates. Enjoy fixed rates from 7.39% p.a., and variable rates from 11% p.a. (for secured car loans only) to find an option with value for money at its core, and the flexibility you need to make it work for you.
- Save time. Fast approval means you don’t need to wait to purchase your car.
Fees and charges to consider
It is important to note that there are a wide variety of car loan options from BOQ, and depending on which you choose there may be additional costs or discounts.
The following fees will apply:
- Application fee of $195
- Monthly maintenance fee of $7.50.
- Additional costs may include redraw or early repayment fees. Depending on your chosen terms, others might apply.
How to apply for a BOQ Car Loan
To start the application process click on the “Go To Site” button above. This will take you to the Bank of Queensland website where you can get started.
The following eligibility criteria may apply:
- You are at least 18 years old
- You need a loan of $5,000 or more
- You are an Australian citizen or permanent resident
- You have never been bankrupt
- You earn a regular income
Before getting started, you will also need:
- Proof of your identity
- Information regarding your employment
- Evidence of income and current assets
- Your expenses and liabilities
The ideal lender for your situation is likely one that has the range of options you need to personalise your car loan, and delivers straightforward competitive rates. Remember to compare a range of options to find the right one for your needs, and get financing that works for you.
