First Option Bank Car Loans

First Option Bank offers the stability of a fixed rate loan for a new or used car.

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Elizabeth Barry

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Key takeaways

  • First Option Bank offers fixed rate car loans, with a 10.99% annual interest rate.
  • The loan features a $175 application fee and no ongoing monthly fees.
  • Borrow between $15,000 and $100,000 for a term of 1 year to 7 years.

Compare First Option Bank car loans

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Checked 5 November 2026
Finder Score Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
First Option Bank logo
7.6 Great
First Option Bank Car Loan
Fixed1 - 7 Years $15,000 - $100,000
7.6 Great
Interest Rate (p.a.)
10.99%
Comp. Rate (p.a.)
11.25%
Application Fee
$175
Monthly Fee
$0
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How to apply for a First Option Bank car loan

When applying online for a car loan, you'll need to supply some key details:

  • Details of the car you're borrowing for, include make, model, year and purchase price
  • How much you're looking to borrow
  • Your name, address and contact information
  • Details of your employment and income

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Journalist
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Elizabeth Barry is an experienced journalist with over 10 years of expertise in personal finance, contributing to outlets like the ABC, Sydney Morning Herald, and 7News. She holds a Master of Arts in Creative Writing and a Bachelor of Arts in Communication from the University of Technology Sydney, and has earned multiple award nominations, including a Highly Commended recognition at the 2017 Lizzies. Elizabeth began her career at Finder in 2013, progressing through roles to become Lead Editor, where she oversaw a wide range of personal finance coverage until 2024. See full bio

Elizabeth's expertise
Elizabeth has written 151 Finder guides across topics including:
  • Banking
  • Personal finance
  • Investing
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