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ANZ Car Loans

ANZ offers car loans for borrowers who want to buy new, demo or used cars. ANZ also allows borrowers to refinance existing car loans. Approved borrowers can lower their repayments in return for making a ‘balloon payment’ or one-off lump sum payment at the end of the loan. Besides car loans, ANZ offers day-to-day banking products, credit cards, home loans, personal loans, insurance, investment services and superannuation. ANZ began life in 1835 as the Bank of Australasia. It also has operations in New Zealand, Asia, Europe, America and the Middle East.

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

ANZ car loan repayment calculator

Thinking about taking out a car loan with ANZ? Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how ANZ car loans compare with other options.

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Loan Term

years

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ANZ Car Loans rates

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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

FAQs

Student car loans are not a necessarily a product in and of themselves, but what you may be looking for is a guarantor car loan.

A guarantor car loan has a third-party act as a form of guarantee for your loan application, telling the bank or lender that if you default on your loan, someone will pay the loan repayments.

Going guarantor on a car loan is no new thing, and before internet-based credit scores, guarantor car loan applicants would apply for loans with a guarantor or property owner who could vouch for the person borrowing the loan.

To get a guarantor car loan, you’ll need someone willing to act as a guarantor for your car loan.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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