Westpac Car Loan

Last updated:  

Finance a new or used car and have the option to borrow extra to cover on-road costs.

Westpac's Car Loan offers a number of convenient features to benefit those looking to purchase a car. You can finance a new or used vehicle with loans from $10,000 available. You also have the option to borrow an extra 10% of the car's value to cover on-road costs such as insurance and registration. Westpac offers a car search to get an indicative cost of the car you want and also lets you choose how you pay the seller.


Application Fee

7.49% (fixed)

Interest Rate (p.a.)


Comparison Rate (p.a.)


Max Loan Amount

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!


Product NameWestpac Car Loan
Interest Rate (p.a.)7.49% (fixed)
Comparison Rate (p.a.)8.68%
Interest Rate TypeFixed
Min Loan Amount$10,000
Max Loan Amount$100,000

Main points to consider with the Westpac Car Loan

This loan comes with a fixed rate of 7.49% p.a. when you attach your new or used car as security. A $250 establishment fee applies, along with a $12 monthly fee. Fees also apply for early loan repayment.

You can apply for this loan and find out if you're approved in 60 seconds. Loan amounts of between $10,000 and $100,000 are available depending on the value of the car, but you can borrow an extra 10% of the value of the car to cover on-road costs. If you're approved, you can choose to pay your car seller straight away or hold off on the payment.

Features of the Westpac Car Loan

  • Wide range of borrowing amounts. Loan amounts from $10,000 to $100,000 can be borrowed depending on the value of the car.
  • Borrow extra to cover on-road costs. You can borrow an extra 10% of the value of your car to cover on-road costs such as insurance, registration or transfer costs.
  • Choice of car. You're able to finance a new or used vehicle with this loan. Keep in mind the vehicle must have been made in Australia or imported by the manufacturer and be less than 7 years old at the time of application.
  • Interest rates. A fixed annual interest rate of 7.49% p.a. applies with this loan. Including fees, the comparison rate is 8.68% p.a..
  • Loan term. Loan terms extend from 1 to 7 years.
  • Repayment flexibility. Tailor the frequency of your repayments to match your job’s pay schedule (weekly, fortnightly or monthly).
  • Extra repayments. You may make extra repayments on this car loan, but if you choose a term greater than 2 years and pay back the loan in less than 2 years, a fee of $175 applies. However, this fee can be avoided when borrowers refinance with another personal loan issued by Westpac.
  • Pay the seller how you like. You can choose to pay the seller straight away or delay the payment of your approved funds. You also have the choice of electronic transfer or bank cheque.
  • Car value search. Westpac offers a car search tool that you can use to get an indicative cost of the vehicle you want once you're approved for the loan.
  • Interest rate discount. Discounted interest rates are available for those holding the Westpac Choice Student, the Westpac Choice Youth or the Westpac Plus packages. If your employer is part of Westpac’s Corporate Connections program, you might also be eligible for a discounted interest rate.

How to apply for the Westpac Car Loan

Applying for the Westpac Car Loan is easy: if you’d like to take advantage of the Westpac Car Loan, click "Go to Site" on this page. Please allow up to 15 minutes to complete the application form.

Eligibility is based on the following criteria:

  • You must be a permanent resident of Australia or hold an acceptable visa
  • At least 18 years of age
  • Have a regular and verifiable income

You'll also need the following information to submit your application:

  • Employment information such as your employer's name and contact details
  • Recent tax information if you're self-employed
  • Weekly after-tax income for each loan applicant
  • Details of your assets, savings and investments
  • Amounts owing on credit and store cards
  • Details of your expenses

You'll find out if you have been conditionally approved for the loan in 60 seconds. After your approval, you have 30 days to find your car. You will then need to send in your car dealer’s invoice and registration papers, sign your loan contract and send it back to Westpac. Once you accept your contract and you provide full proof of comprehensive insurance you will receive the funds as specified.

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% 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.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% 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.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

Ask an expert

To ask a question simply log in via your email or create an account.

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Go to site