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Heritage Bank Car Loan

Advertiser disclosure
Interest rate from
4.89% p.a.
Comparison rate from
5.53% p.a.based on $30,000
over 5 years
Upfront fee

Mozo editorial review Heritage Bank Car Loan - last updated: 18 November 2021

4.5 / 5
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What's hot
  • 2022 Mozo Experts Choice Award winner
  • Fixed rates from 4.89% p.a. (5.53% p.a.comparison rate*)
  • Flexible repayment schedule
  • Free extra repayments & redraw facility
What's not
  • $200 upfront fee
Mozo snapshot

Not only does the Heritage Bank Car Loan have a competitive 4.89% p.a. fixed interest rate (5.53% p.a. comparison rate*), but it also comes with loads of flexible features, such as weekly, fortnightly or monthly repayment options, free extra repayments, plus more.

What's more - the Heritage Bank Car Loan has taken home a 2022 Mozo Experts Choice Award.

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Key features

With a competitive low fixed interest rate of 4.89% p.a. (5.53% p.a. comparison rate*), and a minimum loan amount of $5,000 and a maximum of $100,000, the Heritage Bank Car Loan could be a fantastic option if you’re eyeing off a new set of luxury wheels. Keep in mind that this is a secured loan, so your vehicle will end up being your security against the loan.

This loan offers term options of 1-7 years, meaning you'll have plenty of time to pay your loan off should you need it. Not to mention flexible regular repayment options, giving a choice of either weekly, fortnightly or monthly repayments.

While we’re on the topic of flexible features, you should know that the Heritage Bank Car Loan allows you to make free additional loan repayments, plus, it also comes with a redraw facility, which is nice to have in an emergency.

Who is it good for

The Heritage Bank Car Loan could be a fantastic car loan option if you're looking to purchase a brand new car, particularly if its a luxury vehicle that comes with a heftier price tag, since it's available for loan amounts up to $100,000.

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Any catches

With every positive, there’s usually a negative. In this case, the negative is a range of additional fees, such as a $200 application fee, $5 service fee and $30 late payment fee.

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Polly Fleeting
Money writer

Polly Fleeting specialised in loans and credit cards. Her work helped people find ways to make smart product choices, reduce debt and get more for their hard-earned dollars. Polly has a degree in Journalism from the University of Technology, Sydney and is ASIC RG146 (Tier 2) certified for general advice. She worked at Mozo for three years, finishing in January 2022 to take up a career in teaching.


Rates and fees information correct as at 29 June 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.


4.89% p.a. fixed

5.53% p.a.based on $30,000
over 5 years







Other financial bits



1 Year

7 Years



Weekly, Fortnightly, Monthly





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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