Heritage Bank Car Loan

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

Heritage Bank lets you benefit from flexibility with its Car Loan. You can finance either a new vehicle or one that is aged up to five years old while taking advantage of the same competitive rate. You also have your choice of weekly, fortnightly or monthly repayments and the choice of loan terms up to 7 year(s).

Find out more about this loan, and whether it's right for you, in this review.

Product NameHeritage Bank Car Loan
Interest Rate (p.a.) From 8.99% (fixed)
Comparison Rate (p.a.)9.62%
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$100,000
Loan SecuritySecured


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


  • $200 application fee
  • Monthly fee of $5

Main points to consider with the Heritage Bank Car Loan

This car loan is secured, which means a new or used vehicle must be used in order to be eligible for the loan. 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(s) and the maximum loan term is 7 year(s).

You benefit from a fixed rate loan that starts from a competitive 8.99% p.a. with a comparison rate of 9.62% 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 8.99% p.a. and a comparison rate of 9.62% 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(s) to 7 year(s) in order to pay off your new or used vehicle.
  • Choose from a new or used vehicle. You can choose from a new vehicle or a used vehicle up to five years old. That way, if you find an older model you like, you are still able to use this loan.
  • Large borrowing amounts. Choose from a minimum of $5,000 and a maximum secured amount of $100,000.
  • Secured loan. This car loan is secured and this means that the car you’re looking to purchase is used as security until you pay off the loan.
  • 100% finance available. If you are approved, you are able to benefit from 100% finance. However, this is only available to approved applicants.

Fees and charges

A fee schedule will be created for you after approval for the amount you have applied for. However, some fees you can expect to be charged include:

  • A monthly loan fee of $5
  • A fee will be charged upon paying the amount owed in full at any time
  • An application fee of $200
  • A redraw additional repayments fee

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:

  • Your assets and liabilities situation. This can be shown through payslips, bank statements and bills.

This car loan is an option to consider when it comes to looking for your finance options in getting your dream car. However, examine other options before making a final decision.

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Stratton Finance New Car Loan

Apply for up to $100,000 and have up to 10 year(s) to repay. You can use cash or trade in a vehicle to use as a deposit.

RACV New Car Loans

A competitive rate car loan from RACV with no monthly fees and 5-hour loan approval.

NRMA New Car Loan

Purchase a new car with an NRMA Car Loan with a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.

Heritage Bank Car Loan

Apply for up to $100,000 to finance a new or used car at a competitive fixed rate.

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