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 car loans, you can now realise your dream of owning your own car whether you are planning on purchasing a brand new one or a second-hand vehicle.
The National Australia Bank Group (NAB) offers various financial services. With a NAB Personal Car Loan you can finance a new or used car purchase. In the guide below you'll find out more about this financing option, including its features and fees. Read on to learn more.
NAB Car Loan Comparison
- NAB Car Loan. The NAB Car Loan is an unsecured, fixed or variable rate loan offering from NAB. It comes with a competitive rate of 13.69% p.a. for variable rate loans and you have between 1 and 7 years to pay it off. You're able to borrow between $5,000 and $55,000 and you can use the loan amount however you choose, that is, on a new, used or even a classic car.
Is your car eligible?
As the loan is unsecured you're able to finance any car with this loan. You can purchase a car from a dealership or a private sale, or you can even buy demonstrator vehicle.You need to borrow 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. You are able to use the loan amount to purchase other items with this loan.
How to apply for a car loan from NAB
To apply for the NAB car 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 car loan
- Driver's license
- You contact details
- Your personal details
- Employment details
- Financial details
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.