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Westpac Car Loans

Westpac was first established in 1817 as the Bank of New South Wales. After a rich history of mergers and acquisitions Westpac is now the third largest bank in Australia after nab and The Commonwealth Bank. Westpac’s businesses are divided into six key business areas: Consumer Financial Services, Business Financial Services, BT Financial Group Australia, Westpac Institutional Banking (WIB), New Zealand Banking and Pacific Banking. Its Consumer Financial Services unit is responsible for the sales, services and development of consumer products throughout Australia. This includes deposit accounts, transaction accounts, credit cards, mortgages personal loans and car loans. Westpac holds a large market share in home lending and is listed in the top 10 of publically listed companies on the Australian Securities Exchange Limited (ASX).

Westpac car loan repayment calculator

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

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Westpac Car Loans rates

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About Westpac car loans

Westpac is one of Australia’s leading banks, offering a diverse array of financial services to customers and clients, not only under its own name, but through the St.George, Bank of Melbourne, BankSA and RAMS brands.

Car loans and personal loans are among Westpac’s services, along with transaction and savings accounts, credit cards and home loans. The low fixed interest rate means you can be confident that your car loan repayments will remain consistent and affordable for the full length of the loan term.

Westpac operates branches across Australia, and can also be contacted online via internet banking, or by phone. Additional car loan offers are also available from the other brands in the Westpac Group. 

Features of a Westpac car loan

A Westpac car loan offers you a choice of repayment frequency options, depending on whether it would be simpler and easier for you to make payments towards your car loan weekly, fortnightly or monthly. You can borrow between $10,000 and $100,000 to buy a new or used car, and pay it off over a term of 1 to 7 years.

The option is also available to make extra repayments and get your car loan paid off early, with early exit fees only applying if a car loan with a term greater than two years is paid off in less than two years.

Customer service

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


  • No early exit penalty (except for 2+ year loans paid out in
  • Can apply online
  • Can apply in branch
  • Available for 457 visa holders


  • Monthly fee charged
  • Application fee charged
  • Requires security to be held (secured car loan only)
  • Limited to new cars (unsecured personal loan only)

What RateCity says:

By securing your Westpac car loan against the value of your vehicle, you get to enjoy an interest rate that’s below the market average. However, the establishment fee is higher than average, and there are also ongoing monthly charges to consider.

The option to adjust the frequency of your repayments can make budgeting simpler, as you can match your car loan repayments to your employer’s payday schedule.

The option to make extra repayments and to pay off your car loan ahead of schedule with minimal penalties can mean saving a significant sum in interest charges. Even if you’re charged Westpac’s early exit fee for finishing a longer-term car loan in less than two years, this is a fixed fee, rather than being based on the remaining interest payments, so it’s possible you may come out still ahead financially.


To apply for a Westpac car loan, you’ll need:

  • to be 18 or over
  • permanent regular income
  • permanent Australian residency or an acceptable visa
  • personal identification
  • details of your current financial situation

You can apply online, over the phone, or at your nearest Westpac branch.


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.


^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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