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Heritage Bank Car Loan

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Application Fee
$250
Interest Rate (p.a.)
6.49% (fixed)
Comparison Rate (p.a.)
6.84%
Max Loan Amount
$100,000

Summary

Finance a new or used car that’s up to 7 years old with the Heritage Bank Car Loan.

With the Heritage Bank car loan you can finance either a new vehicle or one that is up to 7 years old, with the same competitive rate for both. You can choose weekly, fortnightly or monthly repayments and loan terms of up to 7 years.

Pros

  • Finance a new or used car
  • Large maximum loan amount
  • Weekly, fortnightly or monthly repayments

Cons

  • $250 application fee

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

Details

Product details

Product Name Heritage Bank Car Loan
Interest Rate (p.a.) 6.49%
Comp. Rate (p.a.) 6.84%
Interest Rate Type Fixed
Min Loan Amount $5,000
Max Loan Amount $100,000

Main points to consider with the Heritage Bank Car Loan

This car loan is secured and you can use either a new or secondhand car as the security. The used car can be up to five years old. You can apply for a minimum of $5,000 and a maximum of $100,000. The minimum loan term is 1 year and the maximum loan term is 7 years.

You benefit from a fixed rate loan that starts from a competitive 6.49% p.a. with a comparison rate of 6.84% p.a.

Features of the Heritage Bank Car Loan

Some of the features associated with this car loan include:

  • A fixed rate. With rates starting from 6.49% p.a. and a comparison rate of 6.84% p.a. available, this rate is fixed so you have the certainty of knowing what your repayments will be each month.
  • Flexible repayment terms. You are able to tailor your repayments to your cash flow schedule. You can benefit from weekly, fortnightly or monthly payments.
  • Flexible loan terms. You are able to choose from 1 year to 7 years in order to pay off your new or used vehicle.
  • For new or used vehicles. This loan is available for new cars or cars up to 7 years old. But there is one condition: Your vehicle must be no more than 10 years old at the end of your loan term. This means your loan term is limited to 3 years at most if your car is 7 years old.
  • Large borrowing amounts. Choose from a minimum of $5,000 and a maximum secured amount of $100,000.
  • 100% finance available. If you are approved, you are able to benefit from 100% finance.

Fees and charges

This loan has minimal fees. The main fee every borrower will pay is:

  • An application fee of $250

How to apply for the Heritage Bank Car Loan

You can apply for this car loan through an online application, over the phone or in branch. In order to be eligible, click on "Go to Site" and ensure you meet the following criteria:

  • Be 18 or older
  • Be an Australian permanent resident or Australian citizen
  • Be able to financially meet your obligations with this loan

Some documents you need to provide include:

  • Proof of your identity.
  • Details of your income, debts and assets.
  • Details about the car you are purchasing.

Compare car loan providers

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Simplify New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
OurMoneyMarket Used Car Loan - No Vehicle Age Limit
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Simplify Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA Used Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% 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.
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Richard Finder

Editor

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Lisa

August 14, 2019

Hi Would like an easy way to find a car loan just for pensioners eg: states you borrow with a good credit rating value up to 31000 if possible. Instead of clicking into each one if possible.


Avatar

Nikki Angco

August 15, 2019

Hi Lisa,


Thanks for leaving a question.


You may refer to our list of car loans for pensioners. You can use our comparison table to help you find the lender that suits you. When you are ready, you can apply by clicking “Go to site” and following the instructions. The application form will ask for personal and financial information, proof of your pension, and other income, assets, or liabilities.


As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.


Hope this helps. Feel free to reach out to us again for further assistance.


Best,

Nikki


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