Interest rate from
7.49% p.a.
Comparison rate from
8.68% p.a.based on $30,000
over 5 years
Upfront fee
$250

Mozo editorial review Westpac Car Loan

Last updated: 9 July 2020.

binocular icon
What's hot
  • Fixed 7.49% p.a. interest rate (8.68% p.a. comparison rate*)
  • Extra repayments allowed
  • Flexible repayment options
What's not
  • $175 early repayment penalty
  • $250 application fee, $12 service fee & $15 late payment fee
Mozo snapshot

With competitive fixed rates starting from fixed rates starting from 7.49% p.a. (8.68% p.a. comparison rate*) on amounts from $10,000 to $100,000 and 1 to 7 year loan terms, plus, the ability to make extra loan repayments and a choice of either weekly, fortnightly or monthly repayments, whether you are borrowing money for a new car or a used car, be sure to check out the Westpac Car Loan.

key icon
Key features

The Westpac Car Loan hits the ground running with competitive fixed rates from 7.49% p.a. (8.68% p.a. comparison rate*) on loans from $10,000 to $100,000. Loan terms range from 1 to 7 years and you'll have the ability to make extra repayments so you can pay it off faster, but be aware that if you do pay it off in less than 2 years, you'll cop a $175 early repayment fee.

And while you can make extra loan repayments at any time, keep in mind, this loan doesn't offer a redraw facility, so you won't be able to dip into those extra repayments should you ever need access to extra cash.

Westpac also offers three convenient options for you to apply for the loan including online, in person at a branch or over the phone.

The Westpac Car Loan comes with a few fees that you'll need to budget for, including a $250 application fee, $12 service fee, $15 late payment fee and a $175 early repayment penalty, should you wish to pay your loan out early.

Also, if you're buying a used car, keep in mind that the minimum loan amount for this loan is $10,000. On the plus side, the maximum loan amount on this loan is a generous $100,000, so if you've been eyeing off a flashy new Porsche, then this could potentially be a good loan option for you.

snapshot
Who is it good for

With competitive fixed rates, plus a choice of either weekly, fortnightly or monthly flexible repayment option to suit your budget and lifestyle, the Westpac Car Loan could be a great option for many Aussies who are looking to purchase either a new or secondhand vehicle and are over the age of 18 and earning a regular income.

snapshot
Any catches

Just remember, if you pay off your Westpac car Loan in less than two years (and initially opted for a longer loan term) you'll need to pay a $175 early payment fee.

Details

Rates and fees information correct as at 29 November 2020. 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.
Rates
  • Fixed

  • 7.49% p.a. fixed

  • 8.68% p.a.based on $30,000
    over 5 years

Fees
  • $250.00

  • $12.00

  • $15.00

  • $0.00

  • $175

Other financial bits
  • $10,000.00

  • $100,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • no

  • Eligibility conditions include a regular permanent income of at least $35,000 p.a.

  • none

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.

Customer Reviews

How are Westpac personal loans rated by the Mozo community?

Overall
6.9/10
Price
6.2/10
Features
6.0/10
Customer service
7.3/10
Convenience
7.7/10
Trust
7.0/10

Latest reviews of Westpac Car Loan

  • Overall 10/10
    Wouldn’t bank with anyone else

    I like this bank best they are simple easy to use and explain everything so well to you.

    Read full review

    I like this bank best they are simple easy to use and explain everything so well to you.

    Price
    7/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    9/10
    Less
    Janice, South Australia reviewed about 2 months ago
  • Overall 6/10
    Average loan

    It's okay for a car loan. I think I could have got a bettter interest rate than I did

    Read full review

    It's okay for a car loan. I think I could have got a bettter interest rate than I did

    Price
    4/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -
    Less
    Anit, Victoria reviewed over 3 years ago
  • Overall 0/10
    Not great

    Didn't give me the time of day.

    Read full review

    Didn't give me the time of day.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    James, South Australia reviewed about 5 years ago
  • Overall 9/10
    Great customer service

    Westpac have been very helpful with financial assistance while being off work.

    Read full review

    Westpac have been very helpful with financial assistance while being off work.

    Price
    8/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Ryan, Queensland reviewed over 5 years ago
  • Overall 8/10
    Easy to setup and great service

    Fantastic service and set up easy payments.

    Read full review

    Fantastic service and set up easy payments.

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Stacey, Victoria reviewed over 5 years ago
Westpac

About Westpac

As Australia's first bank, Westpac has been serving customers since 1817. Westpac merged with St.George to create Australia's largest financial services company, and customers can enjoy from peace of mind from having the security offered by a major bank behind them. Check out Westpac's range of banking products such as savings accounts, home loans, personal loans, credit cards and other financial services such as its car and home and contents insurance.

See Westpac personal loans

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

Wisr

Wisr

Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.22% p.a.to 19.76% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

6.45% p.a.to 26.99% p.a.

6.45% p.a.to 26.99% p.a.based on $30,000
over 5 years

CUA

CUA

Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

Plenti

Plenti

New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.to 9.46% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Car Loan

5.50% p.a.

5.85% p.a.based on $30,000
over 5 years

Wisr

Wisr

Secured Car Loan

5.19% p.a.to 18.95% p.a.

5.46% p.a.to 19.26% p.a.based on $30,000
over 5 years

Heritage Bank

Heritage Bank

Car Loan

4.89% p.a.

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

loans.com.au

loans.com.au

New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

P&N Bank

P&N Bank

Secured Personal Loan

6.81% p.a.

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

CUA

CUA

Secured Car Loan (Fixed)

6.79% p.a.

7.16% p.a.based on $30,000
over 5 years

loans.com.au

loans.com.au

Clean Green Car Loan

3.97% p.a.

4.51% p.a.based on $30,000
over 5 years

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $30,000
over 5 years

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.to 12.2% p.a.based on $10,000
over 3 years

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

6.45% p.a.to 26.99% p.a.

6.45% p.a.to 26.99% p.a.based on $30,000
over 5 years

CUA

CUA

Unsecured Personal Loan (Fixed)

9.39% p.a.

9.64% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Wisr

Wisr

Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.22% p.a.to 19.76% p.a.based on $30,000
over 5 years

NOW Finance

NOW Finance

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.

$0.00

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.

$0.00

SocietyOne

SocietyOne

Unsecured Personal Loan (Fixed)

6.99% p.a.to 9.49% p.a.

6.99% p.a.

$0.00

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.

$0.00

Liberty

Liberty

Personal Loan

6.45% p.a.to 26.99% p.a.

6.45% p.a.

$0.00

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.

$10.00

MoneyPlace

MoneyPlace

Unsecured Personal Loan (Fixed)

6.45% p.a.to 26.99% p.a.

6.45% p.a.

$0.00

P&N Bank

P&N Bank

Secured Personal Loan

6.81% p.a.

7.80% p.a.

$10.00