Securing the car to your loan provides you with a significantly better price than many other loan kinds.

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  • Securing the car to your loan provides you with a significantly better price than many other loan kinds.

Securing the car to your loan provides you with a significantly better price than many other loan kinds.

With a Westpac auto loan, you can:

  • Get a reduced rate of interest than our other loans that are personal utilizing your car as safety 6
  • Borrow $10,000 – $100,000 to get a brand new or car or truck, repaying it over 1-7 years (conditions use) 4
  • Go with a payment regularity to suit you – regular, fortnightly or month-to-month
  • Make preparation easier while the rate that is fixed your repayments will always be similar for the lifetime of the mortgage
  • Negotiate confidently aided by the vendor, as you’ll discover how much it is possible to invest
  • Borrow an extra 10percent regarding the car’s value to simply help protect incidentals and on-road expenses, offered the total quantity is inside your authorized restriction
  • Feel buying that is confident used vehicle, with your free check regarding the car’s reported history which can cover its expected value, if finance is owing or if it is been previously been written down or taken
  • Save your time as we’ll manage the last payment to the dealer or private vendor for you personally.

Are you aware?

If you’re unable to produce repayments and now haven’t sent applications for monetaray hardship, we might reclaim your vehicle. You could instead use an Unsecured Personal Loan if you don’t want to secure the loan or your car isn’t eligible to offer as security.

Just how do a Westpac is used by me car Loan?

Apply onlineFill in your details plus the quantity you would like to borrow. It takes only ten full minutes and now we’ll contact you regarding our choice, frequently within 2 company times.

See just what you are able to spendOnce you’ve got conditional approval, utilize our car search device to ensure the type of the automobile you need to buy. We are going to be sure it is respected precisely.

Discover the carYou then have 1 month to obtain the motor automobile and send us the important points. You will also have to take down insurance that is comprehensive you settle the mortgage.

Spend your pathYou’ve discovered the motor car and shared every detail with us. Now, you are able to elect to spend owner straight away or later on, by electronic transfer or cheque.

Repayment calculator

This calculator makes it possible to calculate just how much your individual loan repayments might be. 3

The important points

Our car finance comes with a rate that is fixed and thus you’ve got the certainty of a group payment amount through the lifetime of the mortgage. You may make additional repayments to cover down your loan faster, providing you with the very best of both globes (prepayment charge may apply 4.

Who is able to make an application for a Westpac auto loan?

If you’d like to use, you need to:

With us, please call our Personal Lending Centre on 1300 720 697 discuss if you have any questions about whether your visa is an acceptable migrant visa that qualifies you to apply for a personal loan.

Is my automobile entitled to a motor car loan?

The automobile you purchase with all the loan must:

  • Be significantly less than 7 years of age
  • Have now been brought in by the manufacturers.
  • Not have been written down (even when it had been fixed)
  • Have value appropriate loan now reviews to the mortgage quantity
  • Be coming in at $10,000 or maybe more
  • Have compensated full insurance that is comprehensive with Westpac noted because the financier.

If the automobile doesn’t satisfy these requirements, you could give consideration to purchasing a car or truck having a Westpac Unsecured personal bank loan.

How can I use?

It is possible to submit an application for a Westpac car finance:

Apply on line in lower than ten full minutes on any device. You may then come back to complete the job within 2 weeks. Westpac customers can handle the whole process online without the need to search well for a branch.

On the phone

Apply within the phone by calling 1300 720 697 (8am-8pm, seven days a week).

Apply at your nearest branch. Make use of our branch locator to see which branch is closest to you.

Exactly just What do you really suggest by ‘security’?

A Westpac auto loan requires you to definitely make use of the motor vehicle you’re buying as protection. Utilizing the vehicle as protection, you provide us with authorization to reclaim and sell the vehicle to spend any outstanding loan balances, in the event that you aren’t in a position to satisfy your repayments.

Do i want a deposit for a auto loan?

No – once you purchase a vehicle having a Westpac auto loan, you provide the vehicle purchasing that is you’re protection in the loan. This functions as security for the loan.

Which information do i must provide whenever I use?

Our Identification Checklist for Individual Customers (PDF 768KB) will allow you to construct the papers you ought to use.

You need to offer information on your overall financial predicament. This can add your:

  • Current employer’s name, address and switchboard number that is main
  • Present taxation information, if you are self-employed
  • Regular income that is after-tax each individual trying to get the mortgage
  • Asset, cost cost savings and investment details plus quantities owing on charge cards, shop cards etc.
  • Information on other costs.

We might contact you making use of the details you offer to assist you finish the application. If you’re already a Westpac customer, be sure the facts we now have on record are up-to-date before continuing. You can easily verify by calling 132 032 or in Westpac on the web Banking. Allow twenty four hours for records to upgrade.

Let’s say We have difficulty repaying the loan?

We’ll verify that you could program the mortgage amount you request through the application procedure on the basis of the details you tell us about your current economical situation.

But we comprehend things can change – if something occurs and you’re concerned you may never be capable of making repayments, please tell us. Give us a call on 1800 067 497 and work that is we’ll you to definitely find an answer. You may submit an application for Westpac monetaray hardship assistance on line.

If you should be struggling to create your repayments and belong to arrears, and you also have actuallyn’t applied for monetaray hardship support, you can easily voluntarily provide the automobile to us to offer as an easy way of having to pay any outstanding balances. Instead, we might appoint a party that is third reclaim and offer your vehicle. This can incur alternative party charges we may apply that you will be liable for in addition to any fees and charges.

Each month to credit reporting bodies under new comprehensive credit reporting laws, we are required to report your repayment history – both positive and negative. More info are available from Credit Smart.