Important disclosure
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 $35,634 | 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.