Bankwest Car Loan

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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.

$299

Application Fee

From 7.99% (fixed)

Interest Rate (p.a.)

8.34%

Comparison Rate (p.a.)

$100,000

Max Loan Amount

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Details

Product NameBankwest Secured Car Loan
Interest Rate (p.a.)From 7.99% (fixed)
Comparison Rate (p.a.)8.34%
Interest Rate TypeFixed
Min Loan Amount$10,000
Max Loan Amount$100,000

With 211 business locations and over one million retail customers in Australia, Bankwest is a well-known financial service company. Bankwest provides customers with savings and transaction accounts, home loans, insurance, as well as a large list of personal loan options. If you're looking for a car loan, Bankwest provides a competitive secured loan to consider. Find out more about Bankwest's vehicle financing options on this page.

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 does Bankwest Car Loan compare with other car loan providers

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More Info

Interest rate

From 7.99% p.a.

Interest rate

From 4.99% p.a.

Interest rate

From 4.67% p.a.

Comparison rate

8.34% p.a.

Comparison rate

5.34% p.a.

Comparison rate

5.22% p.a.

Loan term

3 to 7 years

Loan term

1 to 7 years

Loan term

3 to 5 years

Loan amount

$10,000 to $100,000

Loan amount

$2,000 to $75,000

Loan amount

$5,000 to $100,000

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Can your car be used as security?

For a vehicle to be eligible as a guarantee, it generally needs to:

  • Be a motorcycle or car and;
  • Have a value of at least $10,000 or;
  • Be under seven years old at the time of application

Other Bankwest personal loan products

$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Bankwest Unsecured Personal Loan
From 10.99% (fixed)
11.32%
$3,000
3 to 7 years
$195
$5
Borrow from $3,000 to $50,000 with the flexibility to repay over 36 to 84 months with a competitive fixed interest rate
Bankwest Flexible Personal Loan
From 14.49% (fixed)
15.51%
$5,000
1 to 7 years
$249
$10
Enjoy flexibility, a great low rate and fast access to your funds and access surplus funds online 24/7.
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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:

Eligibility

  • 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:

Documentation

  • Your personal and contact details such as your name, email address and residential address
  • 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.

Bankwest offers a competitive car financing product that is worth considering, but it's important to compare it with similar offerings before you apply.

Compare car loan providers

$
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.
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.

MoneyForJam Car Loan
From 2.85% (fixed)
4.85%
$4,500
1 to 7 years
From $1 to $990
$25
You'll receive a fixed rate from 2.85% p.a. based on your risk profile
Borrow between $4,500 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
Stratton Finance New Car Loan
From 3.85% (fixed)
4.05%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 3.85% 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.
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.
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 3 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 ($195 for refinance and dealer sale, $245 for private sale)
$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.

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.
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.
SocietyOne Car Loan
From 5.95% (fixed)
5.95%
$5,000
2 to 5 years
from $0 to $595
$0
You'll receive a fixed rate between 5.95% p.a. and 17.49% 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.
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.
NRMA Used Car Loan
From 6.24% (fixed)
6.94%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.24% 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.
Symple Loans Personal Loan
From 5.75% (variable)
6.47%
$5,000
1 to 7 years
from 0% to 5% of the loan amount
$10
You'll receive a personalised interest rate from 5.75% p.a. to 25.99% p.a. based on your risk profile
Borrow up to $50,000 to pay for what you need.
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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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22 Comments

    Default Gravatar
    Ricky
    July 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
      Elizabeth
      August 1, 2016

      Hi Ricky,

      You can compare pensioner loans and find lenders who may consider those on a pension for loans. Keep in mind that you will need to meet the minimum eligibility criteria. 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,

      Elizabeth

    Default Gravatar
    Justin
    July 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
      Elizabeth
      July 20, 2016

      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,

      Elizabeth

    Default Gravatar
    Jan
    February 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
      Elizabeth
      February 5, 2016

      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 to see your options.

      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.

      I hope this helps.

      Thanks,
      Elizabeth

    Default Gravatar
    Taryn
    August 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
      Elizabeth
      August 27, 2015

      Hi Taryn,

      Thanks for your question.

      The minimum loan amount for the Bankwest car loan is $10,000. You can compare your other loan options for up to $5,000 on our guide to personal loans. You can press the “Go to Site” button of your preferred lender to proceed with your application. You can also contact the lender if you have specific questions. A gentle reminder, please ensure to read through the relevant product disclosure statement and terms and conditions to ensure that you got everything covered before you apply.

      I hope this will help.

      Thanks,
      Elizabeth

    Default Gravatar
    Graeme
    June 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
      Elizabeth
      June 25, 2015

      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.

      Thanks,

      Elizabeth

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