Bendigo Bank car loans

Bendigo Bank
Bendigo Bank's overall rating for car loans

(as rated by the Mozo community)

7.7 / 10

based on 51 reviews

Whether you need credit for an energy efficient “green” vehicle or a family van, don’t go past these car loan options offered by Bendigo Bank. When it comes this provider, you can choose from a secured or unsecured loan, plus benefit from a lower rate if your purchase has a 5 star rating. We explain it all in more detail further down the page...

Bendigo Bank offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee

6.79% p.a.

7.50% p.a.based on $30,000
over 5 years


11.79% p.a.

13.89% p.a.based on $10,000
over 3 years


7.79% p.a.

8.49% p.a.based on $30,000
over 5 years


6.79% p.a.

6.93% p.a.based on $30,000
over 5 years


9.99% p.a.

9.99% p.a.based on $10,000
over 3 years


12.79% p.a.

14.89% p.a.based on $10,000
over 3 years


*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. WARNING: 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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Bendigo Bank car loan FAQs

What’s so good about having a fixed rate car loan?

If you don’t like change, then it’s pretty good. Bendigo Bank can’t hike your rate at any point during the loan term, so you are protected from fluctuations in the market. Usually, fixed rates spell inflexibility, but this loan is an exception, with a tiny break cost (around $25), fee-free extra repayments and a redraw facility. With a competitive rate too, you could say it’s a win-win.

Should I pick a secured loan?

Yes, do it! That is, if you don’t mind signing a dotted line allowing Bendigo to claim your car if you default on your loan. In return, you’ll score the lowest rate the bank can offer you.

What type of cars are eligible for the green car loan?

All vehicles with 5 star energy ratings can qualify for the lower rate loan.

Are there any borrowing minimums or limits?

Yes, Bendigo has a decent car lending range as loans can start from $2k. There is no specified limit.

What would a car loan repayment look like?

Let’s do some maths. Say you bought a regular vehicle for $30k and secured it to a Bendigo Bank car loan with a 5 year term. Based on the comparison rate at the time of writing, you would be making loan repayments worth $284 each fortnight. We came up with this figure using our nifty car loan repayment calculator.

What if I want to make extra repayments?

You can do it without being charged a fee and choose to redraw any extra repayments via a redraw facility.

What could my car loan term potentially look like?

It could range from 1 to 7 years. Choose a term to compliment your budget (a.k.a how much you want your loan repayments to be).  

What about clearing my debt before the loan term ends?

You’ll need to pay a small penalty fee.

Say I wanted to dip into extra repayments. Could I do that?

Yes, as mentioned earlier, Bendigo Bank has a redraw facility. Be mindful, there may be a minimum amount you must redraw per transaction.

What about second-hand cars?

You can buy a preloved car with a secured Bendigo loan, provided it is in good condition for resale. For the finer points on purchasing used cars, contact the bank.

So what happens if I make a late repayment or miss one?

It’s never advisable to miss a car loan repayment, but things happen. Bendigo may charge you a fee, and too many late repayments can damage your credit score.

What do I need to apply?

A few personal details for Bendigo Bank such as your salary, home address and driver’s licence number. If you have any outstanding debts or own assets, make sure you let them know. When it comes to applying, you can visit a Bendigo branch or give the bank a call. Probably the most convenient way to apply is from the comfort of your own home online. You should hear back from Bendigo with the outcome of your application in a couple of business days.

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