Rates and fees verified as correct at 31 October, 2020. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Unsecured Personal Loan (Fixed)|| |
11.38% p.a.based on $30,000
|Go to site|
|Unsecured Personal Loan (Variable)|| |
13.86% p.a.based on $30,000
|Go to site|
WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.
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This specific kind of loan is not currently available at ANZ. While a car loan secured using a vehicle isn’t available, customers can still take out an unsecured personal loan with ANZ to help them purchase a car. This kind of loan can be set at a fixed or variable interest rate. If you are looking for a loan secured using your newly purchased wheels, check out the secured car loan options on Mozo’s dedicated comparison table.
With an ANZ fixed personal loan, the interest rate will be set at an agreed level and stay there for whatever term you’ve set the fixed loan at. Variable rates can change throughout the period you’re paying off the loan. There are pros and cons to each loan type. Find out which option might suit your car-buying needs better at Mozo’s fixed and variable personal loan hubs.
ANZ’s minimum loan amount sits around the industry standard $5,000 mark. Feel free to test-drive a few slick sets of wheels and apply for a bigger loan if you’re eligible, as you can access up to $50,000 through a loan with ANZ.
Say you splashed out on a $30,000 zippy new ride, with financing from an ANZ unsecured loan on a 5 year term. Based on the comparison interest rate at the time of writing, your weekly repayments would be $170. Try a personalised calculation of your own using our car loan repayments calculator.
It’s up to you! ANZ arranges for loan repayments to fall on weekly, fortnightly or monthly dates. Having this flexibility means you can pick the week your salary goes in to make repayments even easier.
They vary from 1-7 years. Work out how much you can comfortably pay back in each payment period, as this will help you determine the term that will work for you.
Yes, with ANZ’s variable and fixed personal loans you are able to make additional repayments and pay off your car sooner. However, things get a little more complicated with the fixed rate option. You are free to make extra repayments of up to 5% of the loan value (or $5,000, whichever is less) without being charged a fee. If you pay out the full fixed rate loan earlier than the agreed upon time, you will have to pay a $300 early payment administration fee and you may also be required to pay early repayment costs.
While the fixed rate loan doesn't offer redraws, ANZ’s variable rate personal loan does have a redraw facility so you can dip into extra repayments free of charge. But remember, the interest rate is higher on this more flexible loan option.
Like most lenders, ANZ may penalise you with a late fee. If you can’t meet your repayment obligations, the worst case scenario would be that you default on the loan. Being on time instead will protect your credit record in the lead up to bigger loan applications, like when you get set up to buy your first home.
Simply scroll up to where you first started reading this page and click a blue “go to site” icon beside the loan name. Otherwise, visit ANZ online directly, at a branch or dial its customer service line.
Mozo users have rated ANZ car loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
ANZ have been really good to deal with over the years that I have been with them, really convenient and nice people to talk to. I don't like it that they open late 9.30 some days. 8 o'clock would be a good time, maybe every second day.Read full review
ANZ have been really good to deal with over the years that I have been with them, really convenient and nice people to talk to. I don't like it that they open late 9.30 some days. 8 o'clock would be a good time, maybe every second day.