Bank of Melbourne car loan reviews

Bank of Melbourne
Bank of Melbourne's overall rating for car loans

(as rated by the Mozo community)

7.3 / 10

based on 21 reviews

Price

Features

Customer service

Convenience

Trust

Featured car loan from Bank of Melbourne

Recent Bank of Melbourne car loan reviews

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   6 / 10

Could look around for better car finance

I find them to be very helpful, but could look around for a better rate.

Full review

I find them to be very helpful, but could look around for a better rate.

    Price   6 / 10

    Features   4 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   0 / 10

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Melissa, Queensland, reviewed 4 months ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   6 / 10

Could look around for better car finance

I find them to be very helpful, but could look around for a better rate.

Full review

I find them to be very helpful, but could look around for a better rate.

    Price   6 / 10

    Features   4 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   0 / 10

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Melissa, Victoria, reviewed 4 months ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) car loan review

Overall rating   10 / 10

Excellent service

Bank of Melbourne is the best bank I have dealt with.

Full review

Bank of Melbourne is the best bank I have dealt with.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Gary, Victoria, reviewed 10 months ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   8 / 10

Interest rate is high

Being a pensioner, they were rather reluctant to approve my loan, but then when combined with pension incomes from my ex-partner, they got the loan approved.

Full review

Being a pensioner, they were rather reluctant to approve my loan, but then when combined with pension incomes from my ex-partner, they got the loan approved.

    Price   3 / 10

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Malcolm, Victoria, reviewed over 1 year ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   10 / 10

Great manageable weekly price

Great percentage, easy weekly payments

Full review

Great percentage, easy weekly payments

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Julie, Victoria, reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   8 / 10

Great customer service

Very professional

Full review

Very professional

    Price   6 / 10

    Features   6 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   5 / 10

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Adele, Victoria, reviewed over 2 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   8 / 10

High interest.

I have my car loan through them, interest rate is high! Can pay more off if you wish.

Full review

I have my car loan through them, interest rate is high! Can pay more off if you wish.

    Price   5 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

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Lauren, Victoria, reviewed about 3 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   5 / 10

Terrible Service

Branch too far away and not many in between. Always have to wait in line.

Full review

Branch too far away and not many in between. Always have to wait in line.

    Price   9 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   2 / 10

    Trust   4 / 10

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Narelle, Victoria, reviewed about 3 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   10 / 10

Lovely

Yes yes yes! Awesome service, price could be cheaper.

Full review

Yes yes yes! Awesome service, price could be cheaper.

    Price   7 / 10

    Features   7 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

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Helen, Victoria, reviewed about 3 years ago

Bank of Melbourne

Bank of Melbourne Unsecured Personal Loan (Fixed) car loan review

Overall rating   7 / 10

Good customer service

Do not know enough about them to recommend them. Do not deal with them very often as my Commonwealth account is direct debited each week. Once again when I do talk to them it is great to be able to speak to someone who not only speaks English...

Full review

Do not know enough about them to recommend them. Do not deal with them very often as my Commonwealth account is direct debited each week. Once again when I do talk to them it is great to be able to speak to someone who not only speaks English but understands it also. The closest physical branch or ATM is approximately an hour away so it is not convenient to use.

    Price   7 / 10

    Features   7 / 10

    Customer service   8 / 10

    Convenience   3 / 10

    Trust   7 / 10

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Toni, Victoria, reviewed over 3 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   10 / 10

AMAZING

They are amazing

Full review

They are amazing

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Solomon, , reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   10 / 10

Good

Easy to deal with, fast response, no fuss, will be back

Full review

Easy to deal with, fast response, no fuss, will be back

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Brad, , reviewed almost 4 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   6 / 10

yeja its ks good very happy.

Good very very good

Full review

Good very very good

    Price   8 / 10

    Features   8 / 10

    Customer service   7 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Tyler, , reviewed about 4 years ago

Bank of Melbourne

Bank of Melbourne Secured Personal Loan (Fixed) car loan review

Overall rating   8 / 10

Extremely satisfied in every aspect

They listened to my personal views and needs and we literally sat down and worked out the best possible outcome for both of us. I must say I came out a winner, I got what I wanted.

Full review

They listened to my personal views and needs and we literally sat down and worked out the best possible outcome for both of us. I must say I came out a winner, I got what I wanted.

    Price   8 / 10

    Features   9 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

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Eufrasia, Victoria, reviewed over 4 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   7 / 10

Friendly helpful staff. Top effort!

In the 15 years I have banked with Bank of Melbourne we have only had one minor issue. Good track record.

Full review

In the 15 years I have banked with Bank of Melbourne we have only had one minor issue. Good track record.

    Price   6 / 10

    Features   7 / 10

    Customer service   5 / 10

    Convenience   9 / 10

    Trust   7 / 10

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Mel, , reviewed almost 5 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   7 / 10

Happy

Thay are OK but just hate that you can't change the days of the money that comes out.

Full review

Thay are OK but just hate that you can't change the days of the money that comes out.

    Price   2 / 10

    Features   2 / 10

    Customer service   5 / 10

    Convenience   4 / 10

    Trust   5 / 10

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Name not supplied, Victoria, reviewed over 5 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   9 / 10

Great service, efficient staff

Great service, easy to deal with fast and efficient and other payment options were made available.

Full review

Great service, easy to deal with fast and efficient and other payment options were made available.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Trust   9 / 10

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Name not supplied, Victoria, reviewed over 5 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   0 / 10

Very poor customer service & high fees

Extremely poor customer service. I would recomend to never get a loan through a car yard that deals with Bank of Melbourne. The bank fees are extremely high and they are very difficult to talk to on the phone. I have rang many time and spent an...

Full review

Extremely poor customer service. I would recomend to never get a loan through a car yard that deals with Bank of Melbourne. The bank fees are extremely high and they are very difficult to talk to on the phone. I have rang many time and spent an average of >30minutes on hold each time waiting for someone to answer.

    Price   0 / 10

    Features   0 / 10

    Customer service   0 / 10

    Convenience   0 / 10

    Trust   0 / 10

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John, New South Wales, reviewed almost 6 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   8 / 10

Competitive contracts, clean simple transactions

This car loan has been taken over a few times by different institutions. So was a little perturbed at yet another change. However Bank of Melbourne made the transition smooth. I have had dealings with Bank of Melbourne in the past and feel...

Full review

This car loan has been taken over a few times by different institutions. So was a little perturbed at yet another change. However Bank of Melbourne made the transition smooth. I have had dealings with Bank of Melbourne in the past and feel confident and safe with their dealings of my account.

    Price   6 / 10

    Features   6 / 10

    Customer service   9 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Vikkhi, Victoria, reviewed almost 6 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   5 / 10

Good if you don't care - bad if you want to manage

This loan was set up for my car. If I could go with someone else I would. Only access to your account is via the phone with no internet access to manage repayments or see your outstanding balance. I'm suppose to get a statement every year but...

Full review

This loan was set up for my car. If I could go with someone else I would. Only access to your account is via the phone with no internet access to manage repayments or see your outstanding balance. I'm suppose to get a statement every year but never do. Pro's - money comes out at the same time each fortnight (except public holidays - it's a bit odd how/when payments are processed) Good if you want a hassle free loan without having to do it all yourself - bad if you want access to account details online etc

    Price   6 / 10

    Customer service   4 / 10

    Convenience   1 / 10

    Trust   4 / 10

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Brendan, New South Wales, reviewed over 6 years ago

Bank of Melbourne

Bank of Melbourne car loan review

Overall rating   6 / 10

high interest rates, not good

Full review

high interest rates, not good

    Price   6 / 10

    Features   6 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   6 / 10

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Name not supplied, Victoria, reviewed almost 7 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Car loan comparisons on Mozo - rates updated daily

  • MOZO EXPERTS CHOICE AWARDS 2018

    loans.com.au New Car Loan (Up to 2 years old, Fixed, Secured)

    loans.com.au New Car Loan (Up to 2 years old, Fixed, Secured)

    • No monthly or ongoing fees
    • Borrow $5K to $100K
    • 3,4,5 year loan term available

    Interest rate

    5.44% p.a.to 5.94% p.a.

    comparison rate*

    5.99% p.a.to 6.5% p.a.based on $30,000
    over 5 years

    Fees

    $400.00upfront
    and
    $0.00/month

    Go to site

    More info

    • No monthly or ongoing fees
    • Borrow $5K to $100K
    • 3,4,5 year loan term available
    • Upfront fees: $400
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Vehicle
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $100,000.00
    • Minimum loan term: 3 Years
    • Maximum loan term: 5 Years
    Need more information?
    Go to site

    More info

  • Australian Military Bank Car Loan - Excellent Credit (Up to 5 years old, Variable, Secured)

    Australian Military Bank Car Loan - Excellent Credit (Up to 5 years old, Variable, Secured)

    • Tailored rates based on your personal credit history
    • Apply Online
    • No penalty for early repayments

    Interest rate

    5.71% p.a.to 8.66% p.a.

    comparison rate*

    6.57% p.a.to 10.07% p.a.based on $30,000
    over 5 years

    Fees

    $100.00upfront
    and
    $10.00/month

    Go to site

    More info

    • Tailored rates based on your personal credit history
    • Apply Online
    • No penalty for early repayments
    • Upfront fees: $100
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Vehicle
    • Minimum loan amount: $1,000.00
    • Maximum loan amount: $80,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    6.3

    Based on 28 Australian Military Bank car loan reviews

    Need more information?
    Go to site

    More info

  • MyState Bank Secured Personal Loan (vehicles up to 2 years old, Variable)

    MyState Bank Secured Personal Loan (vehicles up to 2 years old, Variable)

    • Fast online conditional approval and same day funding available
    • Borrow anything from $10,000 to $75,000 with loan terms up to 10 years
    • Free online redraws and no penalties on early loan payout or lump sum payments

    Interest rate

    7.99% p.a.

    comparison rate*

    8.96% p.a.based on $30,000
    over 5 years

    Fees

    $200.00upfront
    and
    $10.00/month

    Go to site

    More info

    • Fast online conditional approval and same day funding available
    • Borrow anything from $10,000 to $75,000 with loan terms up to 10 years
    • Free online redraws and no penalties on early loan payout or lump sum payments
    • Upfront fees: $200
    • Monthly fee: $10.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Other, Vehicle
    • Minimum loan amount: $10,000.00
    • Maximum loan amount: $75,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 10 Years
    Overall rating

    8.7

    Based on 7 MyState Bank car loan reviews

    Need more information?
    Go to site

    More info

  • MOZO EXPERTS CHOICE AWARDS 2018

    loans.com.au Clean Green Car Loan (New, Fixed, Secured)

    loans.com.au Clean Green Car Loan (New, Fixed, Secured)

    • No monthly or ongoing fees
    • Borrow $5K to $100K
    • 3,4,5 year loan term available

    Interest rate

    4.74% p.a.to 5.24% p.a.

    comparison rate*

    5.29% p.a.to 5.8% p.a.based on $30,000
    over 5 years

    Fees

    $400.00upfront
    and
    $0.00/month

    Go to site

    More info

    • No monthly or ongoing fees
    • Borrow $5K to $100K
    • 3,4,5 year loan term available
    • Upfront fees: $400
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Vehicle
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $100,000.00
    • Minimum loan term: 3 Years
    • Maximum loan term: 5 Years
    Need more information?
    Go to site

    More info

  • CUA Secured Car Loan (Fixed)

    CUA Secured Car Loan (Fixed)

    • $0 establishment fee for a limited time. Conditions apply. $90 Security Admin fee applies
    • No penalties for early payout or extra repayments. Free redraw.
    • No monthly fees

    Interest rate

    6.79% p.a.

    comparison rate*

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

    Fees

    $265.00upfront
    and
    $0.00/month

    Go to site

    More info

    • $0 establishment fee for a limited time. Conditions apply. $90 Security Admin fee applies
    • No penalties for early payout or extra repayments. Free redraw.
    • No monthly fees
    • Upfront fees: $265
    • Monthly fee: $0.00
    • Exit fee: $0.00
    • Repayment options: Weekly, Fortnightly, Monthly
    • Security required: Vehicle
    • Minimum loan amount: $5,000.00
    • Maximum loan amount: $100,000.00
    • Minimum loan term: 1 Year
    • Maximum loan term: 7 Years
    Overall rating

    8.8

    Based on 42 CUA car loan reviews

    Need more information?
    Go to site

    More info

*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.

Want more? Compare all 190 car loans in the Mozo comparison engine.

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*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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