Important disclosure

Commonwealth Bank of Australia

Secured Car Loan

Real Time Rating™

  • $4k to $100k
  • 1 to 7 years
  • New or used car
  • Fixed Rate
Interest Rate

From

6.99%

p.a

up to 13.49%

Comparison Rate*

From

8.40%

p.a

Real Time Rating™
Tags
  • $4k to $100k
  • 1 to 7 years
  • New or used car
  • Fixed Rate
Interest Rate

From

6.99%

p.a

up to 13.49%

Comparison Rate*

From

8.40%

p.a

Calculate your repayments for this loan

$

Your estimated repayment

$594

based on $30,000 loan amount for 5 years at 6.99%

Pros and cons

For Secured Car Loan

Benefits

  • Lower than average rate
  • No early exit penalty
  • Flexible repayment options
  • Can apply online
  • Can apply in branch
  • Suitable for both new or used car

Drawbacks

  • Service fee charged
  • Higher than average application fee
  • Extra repayments limited $1000

Commonwealth Bank Rate Car loan overview

For Secured Car Loan

Details

Total repayments

Interest rate type

Fixed

Borrowing range

$4k - $100k

Security type

Secured

Loan term

1 to 7 years

Secured by

Vehicle

Loan type

Is Fully Drawn Advance

Repayment frequency

Weekly, Fortnightly, Monthly

Age of car

up to 5 years

Target Market Determination

Visit Commonwealth Bank of Australia to view Target Market Determination.

Features

Extra repayments

Yes - limited to $1,000 per year

Redraw facility

Instant approval

Time to funding

N/A

Fees

Upfront Fee

$250

Ongoing Fee

$15 Monthly

Missed Payment Penalty

$20

Early Exit Penalty Fee

Fee Applies

Permitted Loan Purposes

New Car

Used Car

Motorcycle

Boat

Other Restrictions

Early exit fees may apply.

Promoted car loans

Promoted

Lower Rate

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

Promoted

Secured

New Car Loan - Special (Fixed)

Real Time Rating™
  • $5k to $150k
  • 3 to 5 years
  • Fixed Rate
  • Secured
Interest Rate

7.09%

p.a

Comparison Rate*

From

8.21%

p.a

Promoted

Generic

New Car Loan

Real Time Rating™
  • $2k to $75k
  • 1 to 7 years
  • Fixed Rate
  • Secured
Interest Rate

6.57%

p.a

Comparison Rate*

7.19%

p.a