The details shown below are for a variable loan between $3,000 and $50,000
The details shown below are for a variable loan between $3,000 and $50,000
Choose the version of this loan that suits you best
| Loan type | Name | Min loan amount | Max loan amount | |
|---|---|---|---|---|
| | Variable | Used Car Loan (Under 5 years old, Variable, Secured) | $3,000 | $50,000 |
| | Variable | Used Car Loan (Over 5 years old, Variable, Secured) | $3,000 | $50,000 |
Loan: $3,000 $50,000
Loan: $3,000 $50,000
Are you after a low-cost loan with flexible features to help you take home a character-filled secondhand car? A Gateway Bank Used Car Loan could be your ticket. You can make additional repayments as well as redraw on that pool of funds if need be, while also taking advantage of the competitive 5.99% p.a. variable interest rate (6.20% p.a. comparison)*. It has also proved its mettle as a used car loan, taking out a win in the 2021 Mozo Experts Choice Awards.
Whether you’re looking to drive home your first ever ride (paint scratches and all) or pick up a pre-loved upgrade, this award-winning used car loan could be a great way to reach your goal sooner.
Loan amounts range from $3,000 to $50,000 (if the car is under 5 years old, with a solid variable interest rate of 5.99% p.a. (6.20% p.a. comparison)* and a bunch of flexible loan features. If you’ve got extra cash, you can pay down the loan quicker as there’s penalty-free extra repayments. Then if you do need to dip back into it, there’s also a free redraw facility.
There are no ongoing fees, and you could also score discounts on your car insurance premium when you take out this loan and apply online for CGU car insurance.
You’ll have up to five years to pay off your loan with Gateway Bank and can choose to do so through weekly, fortnightly or monthly instalments.
Anyone looking for a smaller loan amount to get you over the finish line of a used car purchase and maintain budget flexibility while you repay it.
While this is relatively budget-friendly financing for buying a used car, don’t forget to factor in that $149 application fee.
Variable
5.99% p.a.variable
6.20% p.a.based on $30,000
over 5 years
$149.00
$0.00
$0.00
n/a
$0.00
$3,000.00
$50,000.00
1 Year
7 Years
Vehicle
Weekly, Fortnightly, Monthly
yes
yes
none
Discount on CGU Car Insurance premiums
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.
Variable
9.74% p.a.variable
9.95% p.a.based on $30,000
over 5 years
$149.00
$0.00
$0.00
n/a
$0.00
$3,000.00
$50,000.00
1 Year
7 Years
Vehicle
Weekly, Fortnightly, Monthly
yes
yes
none
Discount on CGU Car Insurance premiums
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.
Gateway Bank is a deposit taking institution that is open to all Australians, who in turn will receive the excellent service and value from Gateways' products. Gateway Bank has a comprehensive range of products in home loans, term deposits, personal loans, kids savings accounts, car loans, everyday banking accounts, savings accounts and debit cards.
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4.45% p.a.to 15.45% p.a.
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6.79% p.a.
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5.29% p.a.to 9.99% p.a.
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Unsecured Personal Loan
5.95% p.a.to 17.95% p.a.
5.95% p.a.to 17.95% p.a.based on $30,000
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6.29% p.a.to 8.48% p.a.
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Plenti
Unsecured Personal Loan (Fixed)
5.44% p.a.to 7.49% p.a.
5.44% p.a.to 8.19% p.a.based on $30,000
over 5 years
Wisr
Unsecured Personal Loan
6.49% p.a.to 19.95% p.a.
6.76% p.a.to 20.26% p.a.based on $30,000
over 5 years
Symple Loans
Personal Loan
5.75% p.a.to 25.99% p.a.
6.47% p.a.to 29.2% p.a.based on $30,000
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6.25% p.a.to 19.95% p.a.
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5.95% p.a.to 10.49% p.a.
5.95% p.a.to 12.83% p.a.based on $10,000
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7.99% p.a.
8.62% p.a.based on $30,000
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