Important disclosure

Horizon Bank

New Car Loan Fixed

Real Time Rating™

  • From $5k
  • 0 to 5 years
  • Fixed Rate
  • Secured

2024 Award Winner

Interest Rate

6.39%

p.a

Comparison Rate*

6.61%

p.a

Real Time Rating™
Tags
  • From $5k
  • 0 to 5 years
  • Fixed Rate
  • Secured
Interest Rate

6.39%

p.a

Comparison Rate*

6.61%

p.a

Calculate your repayments for this loan

$

Your estimated repayment

$585

based on $30,000 loan amount for 5 years at 6.39%

Pros and cons

For New Car Loan Fixed

Benefits

  • Lower than average rate
  • No ongoing fees
  • Lower than average application fees
  • No early exit penalty
  • Unlimited extra repayments
  • Flexible repayment options
  • Can apply online
  • Can apply in branch
  • Winner of Best New Car Loans, RateCity Gold Awards 2024

Drawbacks

  • Limited to new cars

Horizon Bank Rate Car loan overview

For New Car Loan Fixed

Details

Total repayments

Interest rate type

Fixed

Borrowing range

$5k - $100m

Security type

Secured

Loan term

0 to 5 years

Secured by

Vehicle

Loan type

Is Fully Drawn Advance

Repayment frequency

Weekly, Fortnightly, Monthly

Age of car

Target Market Determination

Visit Horizon Bank to view Target Market Determination.

Features

Extra repayments

Yes

Redraw facility

redraw activation fee of $0

Instant approval

Time to funding

N/A

Fees

Upfront Fee

$150

Ongoing Fee

$0

Missed Payment Penalty

$30

Early Exit Penalty Fee

$0

Permitted Loan Purposes

New Car

Used Car

Motorcycle

Boat

Other Restrictions

After fixed rate of 5.99%, variable rate of 6.29% applies

Promoted car loans

Promoted

Lower Rate

Car Loan (Car > 5 Years)

Real Time Rating™
  • $3k to $50k
  • 1 to 5 years
  • Variable Rate
  • Secured
Interest Rate

9.74%

p.a

Comparison Rate*

9.95%

p.a

Promoted

Secured

Used Car Loan (Car < 10 Years)

Real Time Rating™
  • $1k to $80k
  • 0 to 7 years
  • Variable Rate
  • Secured
Interest Rate

10.70%

p.a

Comparison Rate*

11.35%

p.a

Promoted

Generic

New Car Loan

  • Via broker
  • $10k to $250k
  • 1 to 7 years
  • Fixed Rate
Interest Rate

From

6.52%

p.a

up to 18%

Comparison Rate*

From

6.95%

p.a