Auswide Bank car loans

Auswide Bank

Over 50 years ago, Auswide Bank was a tiny building society in Queensland called Wide Bay Australia. Now with over $3 billion in assets, this growing bank offers an extensive range of financial products to everyday Aussies, including car loans. If you need a new ride, Auswide Bank could help you out, all while charging you at a competitively low interest rate too! Read on for all the details.

Auswide Bank offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee

7.79% p.a.

8.39% p.a.based on $30,000
over 5 years

$175

6.35% p.a.

6.95% p.a.based on $30,000
over 5 years

$175

9.79% p.a.

10.38% p.a.based on $30,000
over 5 years

$175

12.79% p.a.

13.38% p.a.based on $30,000
over 5 years

$175

12.99% p.a.

13.58% p.a.based on $30,000
over 5 years

$175

6.99% p.a.

7.59% p.a.based on $30,000
over 5 years

$175

9.50% p.a.

10.09% p.a.based on $30,000
over 5 years

$175

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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Auswide Bank car loan FAQs

Should I choose a fixed or variable interest rate?

If you’re on a budget then going for a fixed rate loan will be a good option as your rate  is locked in for the life of the loan. Whereas variable rates can increase or decrease over the course of the term, changing how much you get charged in interest, which means you’ll benefit if rates go down but will need to budget for any potential rate rises down the track. Pick one you feel most comfortable with, after deciding whether you can afford a negative rate change.

What’s the benefit of opting for the secured car loan?

The best part about taking out a secured car loan is that it’s much cheaper than an unsecured one, as you end up paying less in interest. Tying a vehicle to your loan as security will give Auswide Bank permission to possess you car if you cannot repay your debt, so if you don’t like the sound of that, choose an unsecured loan instead.

How much can I borrow?

We don’t know your credit history, which accounts for how you’ve previously dealt with money lent by financial institutions, but Auswide Bank will factor it in when you apply. Consider the loan limits and minimums too, as secured loans can range from $5k to $75k, while unsecured loans start at $3k to $50k.

How frequently will I need to make repayments?

You’ll only have the opportunity to make loan repayments monthly.

How long can I take to pay off my loan?

It depends on the loan. If you secure a new car under 18 months old, the loan term can range from 1 - 7 years. On the other hand, unsecured and secured loans taken out for older vehicles will vary from 1 - 5 years.

How old can my car be?

Some lenders have tough age limits on how old your car must be in order to qualify for security. With Auswide Bank, you have a little more wiggle room, and can select a car up to 10 years old! Of course, if you opt for an unsecured loan, there are no restrictions on what you buy.

What’s the application process like?

Simply pop into a branch, start your application over the phone or online. It won’t take long, but you will need to gather some info about yourself first, such as:

After Auswide Bank has reviewed the submission, they’ll let you know how it all went. The turnaround will take around two business days. Good luck and enjoy!

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