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Australian and New Zealand Banking Group Car Loans

Pros
  • Features a low rate
  • Can apply online
  • Available for 457 visa holders
Cons
  • Monthly fee charged
  • Application fee charged

About ANZ car loans

The Australia and New Zealand Banking Group (ANZ) may be one of Australia’s leading banks and headquartered in Melbourne, but it also operates globally, putting local finance on the world stage. Originally founded as the Bank of Australasia in Sydney in 1835, and in Melbourne in 1838, ANZ today offers a diverse array of financial products and services to personal and business customers and clients.   

When it comes to personal banking, in addition to transaction and saving accounts, credit cards and home loans, ANZ offers several personal loan options, including car loans. While ANZ’s other personal loan offers may offer greater financial flexibility in some areas, ANZ’s secured car loan will allow you to make steady and consistent progress towards paying off your car and driving away stress-free.

To contact ANZ about its car loans or other services, you can get in touch over the phone, online, or visit a branch.

Features of an ANZ car loan

Secured by the value of your vehicle, ANZ’s car loan features a fixed interest rate that’s significantly lower than the rates on ANZ’s other personal loans.

The ANZ Car Loan allows you to borrow between $7.5k and $250k to purchase new or used cars, and make steady progress towards paying this sum off. ANZ’s fixed and variable rate personal loans are also available for borrowing smaller amounts ($5k to $50k) to purchase older used cars, as well as boats or motorcycles.

Customer service

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat
  • Branch

What RateCity says

One of the most apparent benefits of this ANZ car loan is its low interest rate, which is currently lower than the market average for car loans. On the other hand, the loan does feature a higher than average establishment fee, plus ongoing monthly fees.

This car loan offers the option to make extra repayments and get your car paid off more quickly, which can help to reduce the amount of interest you’ll pay on your loan. However, these savings must be balanced against the early termination fees and break costs that will apply.

ANZ offers the option to include your car’s other costs, such as registration and insurance, as part of your loan, though this does mean you’ll end up paying interest on these extra costs. You’ll also have the option to make a large balloon payment at the end of your loan, which can make your loan’s earlier repayments more affordable.

Applying/eligibility

The low interest rate on ANZ’s car loan is a special online-only rate, so to receive it you’ll need to apply via the ANZ website. You can apply for ANZ’s other personal loans online, over the phone, or by visiting a branch.

To apply, you’ll need:

  • to be 18+
  • to be an Australian resident or 457 visa holder
  • identification
  • employment and income information

Car Loans from Australian and New Zealand Banking Group

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