P&N Bank car loans

P&N Bank
P&N Bank's overall rating for car loans

(as rated by the Mozo community)

9.7 / 10

based on 7 reviews

P&N Bank is the largest customer owned institution in Western Australia and runs community initiatives too. Customers can access a range of financial products including home loans and financing for new or used cars. If you need credit to purchase a set of wheels, use this page to learn all about its two variable rate loans on offer.

P&N Bank offers the following car loans

Product Interest rate from Comparison rate from* Upfront fee

6.81% p.a.

7.80% p.a.based on $30,000
over 5 years


12.82% p.a.

13.77% p.a.based on $30,000
over 5 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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P&N Bank car loan FAQs

What is a variable interest rate?

It’s simply an interest rate that can be increased or decreased while you repay your debt, potentially adjusting the cost of loan repayments. If you choose a P&N Bank loan, you may like to factor a negative rate change in your budget in case it happens. On the plus side, interest rates to begin with are competitively low.

Should I secure my car?

It’s up to you. Tying your car into the contract as collateral means P&N can take back your vehicle if you default on the loan. Secured loans have lower rates than unsecured loans, which require less paperwork. Which one will you choose?

How much can I borrow?

You’ll need to sign on for at least $5k, up to an amount you can comfortably afford to repay based on your financial situation.

Can I buy a used car?

Yes, it’s just a matter of whether or not the vehicle will qualify as security, if it’s a secured loan you’re after. Discuss the make and model with P&N to confirm whether you can use a secured or unsecured loan to buy that dream car.

Any extra features that come with these loans?

Actually yes, P&N Bank has its own “car search” tool you can use to help find your ideal car. It can also be known to offer seasonal perks like car insurance and petrol vouchers too.

How frequently will I need to make repayments?

You can select a weekly, fortnightly or monthly billing cycle. Pick one that works with your budget best and set up direct payments if you’re worried about missing due dates.

Can I make additional loan repayments and use a redraw facility?

You sure can and you'll also get the flexibility to dip into them whenever you like through the redraw facility.

What will happen if I repay my loan early?

P&N charges all customers who pay off their car loans early a flat fee.

How long can I take to pay off my loan?

From 2 to 5 years.

How do I apply?

Taking out a P&N Bank car loan over the phone or at a branch is easy. Once you get in touch with them or fill out an online form, you’ll need to provide them with a few personal details, like:

Expect to hear back from P&N within a couple of business days after you’ve submitted your forms, and soon enough you should have that shiny new or used car sitting in the driveway.

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