NAB loans suitable for a car
Whether it’s a loan for a motorbike, a new car or used vehicle, NAB may be able to help.
Having your own car, whether for business or personal use, comes with huge benefits, and is a necessity for many people in a range of living situations. With NAB, you can now realise your dream of owning your own car by opting for an Unsecured Personal Loan. As the loan is unsecured this loan may be suitable whether you are planning on purchasing a brand new one or a secondhand vehicle.
Is your car eligible?
As the loan is unsecured you're able to finance a brand new or secondhand car with this loan. You can purchase a car from a dealership or a private sale, or you can even buy demonstrator vehicle. You may also be able to add on additional purchases to this loan, depending on how much you're approved for. Keep in mind you will need to note your loan purpose when you apply.
You can apply for between $5,000 and $55,000 so the car you're looking to buy needs to be valued between those amounts or you need to be looking to borrow that amount.
How to apply for a NAB Unsecured Personal Loan to purchase a vehicle
To apply for the NAB Unsecured Personal Loan, please click "Go to Site" to start your application. You'll need to meet the following eligibility criteria before you start the application:
- Be over the age of 18
- Receive a regular income or wage
- Have a good credit rating
- Be able to afford the loan repayments
- Be an Australian citizen, permanent resident, New Zealand citizen or hold a 457 visa
- Live in Australia
You'll need the following information on hand to complete your application:
- Details of your desired loan such as loan amount and terms
- Driver's license number
- You contact details
- Your personal details
- Employment details
- Income, expenses and assets
The application should take about 30 minutes to complete and you can receive your funds in about two business days. If you're an existing NAB customer, you can use Internet Banking to submit your application, but you will need to apply online if you are a new customer or if you are making joint applications.
Car Loan OffersImportant Information*
You'll receive a fixed rate of 5.45% 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.
You'll receive a fixed rate of 5.49% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.
You'll receive a fixed rate from 5.69% 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.
You'll receive a fixed or variable rate depending on the lender you are approved with
Apply for up to $100,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
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