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 to 7 years.

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1 of 1 result
Checked 7 August 2026
Finder Score Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
First Option Bank logo
7.7 Great
First Option Bank Car Loan
Fixed1 - 7 Years $15,000 - $100,000
7.7 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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Sources

Elizabeth Barry's headshot
Journalist

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 185 Finder guides across topics including:
  • Banking
  • Personal finance
  • Investing
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