Car loan interest rates by lender
Car loan interest rates in Australia start from about 6% for a secured loan on a newer car and run past 20% for unsecured loans: on 10 October 2026 Westpac published 6.49% to 12.99% (comparison 7.90% to 14.34%), NAB 6.74% to 13.54% (comparison 8.29% to 15.03%) and CommBank 6.79% to 11.29% (comparison 8.20% to 12.65%) on secured car loans. Where you land depends on your credit history, the car’s age and whether the loan is secured. Westpac publishes that around half its customers receive its median rate of 8.49% (comparison 9.67%) or lower.
Car loan lenders a broker can compare
The banks, non-banks and specialist lenders in our directory that write car loans. Rates move often, so each row links to the lender's profile or rate card; the published ranges for the major lenders are in the table further down.
| Lender | Products | Current rate |
|---|---|---|
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: 6.79%p.a. 8.20% p.a. comparison rate* Secured Fixed Rate Car Loan, Secured Fixed Rate Car Loan, secured by the car being bought: from rate for excellent credit (rates up to 11.29% p.a.); comparison on a $30,000 loan over 5 years. As at 10 Oct 2026. Source: CommBank rates page (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: 6.49%p.a. 7.90% p.a. comparison rate* Car Loan Secured, Car Loan for petrol, diesel or LPG cars, fixed rate, secured by the car: from rate; the rate offered depends on your credit assessment. As at 10 Oct 2026. Source: Westpac rates page (opens in a new tab) |
| Bank AustraliaCustomer-owned | Products:
| Current rate: 6.29%p.a. 6.29% p.a. comparison rate* Clean Energy Car Loan, Electric Vehicle Loan, fixed rate, secured, new electric vehicles; establishment fee waived for fully electric vehicles; comparison on a $30,000 secured loan over 5 years. As at 10 Oct 2026. Source: Bank Australia rates page (opens in a new tab) |
| Liberty FinancialNon-bank | Products:
| Current rate: 8.99%p.a. 10.65% p.a. comparison rate* Liberty Drive Secured, Flexible car loan, secured, new and used cars: from rate; comparison on a $30,000 new-car loan over 5 years with no balloon. As at 10 Oct 2026. Source: Liberty rates page (opens in a new tab) |
| MoneyMeSpecialist | Products:
| Current rate: 6.24%p.a. 7.13% p.a. comparison rate* MoneyMe Secured Car Loan, Secured car loan, variable rate, new or used vehicles: from rate for excellent credit history (maximum 26.35% p.a.); $12.50 monthly fee. As at 10 Oct 2026. Source: MoneyMe rates page (opens in a new tab) |
| Now FinanceSpecialist | Products:
| Current rate: 7.59%p.a. 8.43% p.a. comparison rate* NF Secured Car Loan (Tier 1), Vehicle Loan secured by the vehicle, new or used: from rate (rates up to 15.39% p.a.); establishment fee up to $595. As at 10 Oct 2026. Source: Now Finance rates page (opens in a new tab) |
| PlentiSpecialist | Products:
| Current rate: 7.99%p.a. 9.78% p.a. comparison rate* Plenti Car Loan (Tier 1), Secured car loan, new or demo vehicle, homeowner with exceptional credit: from rate (rates up to 12.99% p.a.); comparison on $30,000 over 60 months including a $14.90 monthly fee. As at 10 Oct 2026. Source: Plenti rates page (opens in a new tab) |
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
Show all 16 lendersShow fewer lenders
| Lender | Products | Current rate |
|---|---|---|
| ING AustraliaTier-2 bank | Products:
| Current rate: ING rate card (opens in a new tab) |
| IMB BankCustomer-owned | Products:
| Current rate: IMB rate card (opens in a new tab) |
| Newcastle Permanent (Newcastle Greater Mutual Group)Customer-owned | Products:
| Current rate: Newcastle Permanent rate card (opens in a new tab) |
| Teachers Mutual BankCustomer-owned | Products:
| Current rate: Teachers Mutual rate card (opens in a new tab) |
| Pepper MoneyNon-bank | Products:
| Current rate: Pepper Money rate card (opens in a new tab) |
| Angle FinanceSpecialist | Products:
| Current rate: Angle Finance rate card (opens in a new tab) |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
See all 20 car loan lenders* WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Car loan comparison rates are based on a secured loan of $30,000 over 5 years.
- Secured ranges on 10 October 2026: Westpac and BankSA 6.49% to 12.99% (comparison 7.90% to 14.34%); Great Southern Bank 6.49% to 13.19% (comparison 6.63% to 13.34%); NAB 6.74% to 13.54% (comparison 8.29% to 15.03%); CommBank 6.79% to 11.29% (comparison 8.20% to 12.65%)
- Westpac publishes a median rate of 8.49% (comparison 9.67%) and that around half its customers receive it or lower
- Unsecured car loans run higher: NAB 7.50% to 22.00% (comparison 8.54% to 22.88%), CommBank fixed 7.25% to 22.25% (comparison 8.65% to 23.53%), ANZ personalised on $5,000 to $75,000
- EV discounts: CommBank 6.49% to 8.49% for eligible EVs and PHEVs, or 5.79% under its EV Access Program; NAB 0.75% off; Great Southern Bank green car loan from 6.09%; Plenti 0.5% off new EVs to $90,000
- Fees: establishment $250 CommBank and Westpac, $350 NAB, $499 Pepper Money, waived at Great Southern Bank until 23 February 2027; monthly $15 at CommBank, NAB and Westpac; compare on the comparison rate
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans and a loan of $30,000 over 5 years for car and personal loans, unless the lender states another basis. Business loans and equipment finance for a business purpose have no mandatory comparison rate.
How car loan rates are set
Almost every Australian car loan is a fixed rate for a term of one to seven years, and the lender quotes you a rate inside a published range after a credit assessment. Westpac describes it directly: a rate range from 6.49% to 12.99%, a median of 8.49% that about half its customers receive or beat, and a comparison rate range of 7.90% to 14.34% once the establishment fee is counted.
CommBank adds that rates at the lower end of its range may be offered to customers with an excellent credit history. What moves you within the range is your credit file, the security (a car seven years old or less at Westpac, BankSA and Great Southern Bank, ten at CommBank), whether the car is new or used, whether it is electric, and the loan size and term.
The comparison rate is the number to compare, because it includes the compulsory fees; Moneysmart notes that lenders must give it to you and that dealer-arranged loans can carry fees to several parties.
What do lenders publish?
As at 10 October 2026, read from each lender's own car loan page; "Not published" means the page does not state it, and "personalised" means the lender quotes a rate only after an assessment. Comparison rates are on a $30,000 loan over five years unless the lender states otherwise. Rates change often; check the lender's page before you apply.
| Lender | Secured car loan rate as published | Comparison rate | Loan size and term | Fees as published | Vehicle and other rules |
|---|---|---|---|---|---|
| Westpac | Fixed 6.49% to 12.99%; median 8.49% | 7.90% to 14.34%; median 9.67% | $10,000 to $130,000; 1 to 7 years; weekly, fortnightly or monthly | $250 establishment, added to the loan; $15 a month; $0 extra repayment fee; prepayment fee may apply | Car 7 years old or less at application; no balloon; before-tax income of $25,000 recommended; separate EV and hybrid rates |
| BankSA (Westpac Group) | Fixed 6.49% to 12.99%; median 10.99% | 7.90% to 14.34%; total payable on $30,000 over 5 years $36,404 to $42,188 | $10,000 to $130,000; 1 to 7 years | $250 establishment; $15 a month; $6 PPSR fee; discharge fee $150 in year one, $100 after | Car 7 years old or less; no balloon; conditional answer about 60 seconds after you apply |
| NAB | Fixed 6.74% to 13.54%; electric and plug-in hybrid 5.99% to 12.79% (0.75% EV discount) | 8.29% to 15.03%; EV 7.55% to 14.29% | $10,000 to $100,000; up to 7 years, monthly | $350 establishment, waived when refinancing; $15 a month; $0 exit fee | Used cars up to 12 years old at application and 15 at the end of the term; comprehensive insurance before settlement; unsecured alternative $5,000 to $55,000 at 7.50% to 22.00% (comparison 8.54% to 22.88%) |
| CommBank | Secured fixed 6.79% to 11.29%; representative 8.79%; eligible EV or PHEV 6.49% to 8.49%; EV Access Program 5.79% | 8.20% to 12.65%; representative 10.18%; EV 7.90% to 9.88%; EV Access Program 7.21%; total payable $36,614 to $40,547 | $4,000 to $120,000; 1 to 7 years | $250 establishment; $15 a month | Security car ten years old or less; EV Access Program for eligible essential workers or incomes under $100,000, cars under 75g CO2/km and loans to $55,000; response about 60 seconds after you apply; unsecured fixed 7.25% to 22.25% (comparison 8.65% to 23.53%) |
| ANZ | Unsecured only; personalised fixed or variable | Personalised | $5,000 to $75,000; 1 to 7 years | Not published on the car loan page | No security taken over the car; minimum income $15,000 a year |
| Great Southern Bank | Secured fixed 6.49% to 13.19%; green car loan 6.09% to 12.44% | 6.63% to 13.34%; green 6.23% to 12.59% | $5,000 to $100,000 | $0 monthly fees; $225 establishment fee waived on applications until 23 February 2027 | New or used cars and motorbikes up to 7 years old; green loan for EVs and hybrids up to 7 years old; quote with no credit score impact |
| loans.com.au | Variable 5.94% to 16.89%; fixed 7.49% to 16.29% | Variable 7.07% to 18.01%; fixed 8.62% to 17.41% | $10,000 to $150,000; 3 to 7 years | Early repayment fees may apply | New, demo or used; vehicle up to 15 years old at the end of the term; approval within 24 hours of a complete application; balloons no longer offered on new loans |
| Plenti | Secured 7.99% to 12.99%; 0.5% off new EVs to $90,000 (CEFC) | 9.78% to 14.75% | Up to $100,000; 3 to 7 years | $0 early repayment fee | Age 21 or over; income over $32,000 net; quote with no credit score impact |
| Pepper Money | Fixed, personalised | Personalised | $5,000 to $150,000; 1 to 7 years; $0 deposit | $499 establishment; $8.90 a month; $8 PPSR; early termination up to $750 | Balloons on new, demo or under-one-year-old cars; decision within one business day of a finalised application; private, sole trader and company applicants |
What are the repayments on a $40,000 car loan?
| Loan amount | Monthly repayment at | ||||
|---|---|---|---|---|---|
| 6%p.a. | 9%p.a. | 12%p.a. | 15%p.a. | 20%p.a. | |
| $20,000 | $387 | $415 | $445 | $476 | $530 |
| $30,000 | $580 | $623 | $667 | $714 | $795 |
| $40,000 | $773 | $830 | $890 | $952 | $1,060 |
| $50,000 | $967 | $1,038 | $1,112 | $1,189 | $1,325 |
| $60,000 | $1,160 | $1,246 | $1,335 | $1,427 | $1,590 |
Scroll the table sideways for more rates
Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. 6% is about the bottom of the secured ranges above, 9% sits just above Westpac's 8.49% median, 12% to 15% covers the top of the secured ranges at CommBank, Westpac, Great Southern Bank and NAB, and 20% the upper unsecured ranges at NAB and CommBank (10 October 2026). Use the car loan calculator.
The spread between the top and bottom of one lender's range is the point: on $30,000 over five years it is the difference between about $5,211 and $10,946 of interest at Westpac's 6.49% and 12.99%, or $35,211 against $40,946 repaid in total before fees. That is why a broker's quote across lenders, or a pre-approval before you walk into a dealership, is worth more than the headline rate on any one website.
What moves your rate inside the range
| Factor | Effect | Published evidence |
|---|---|---|
| Credit history | The largest lever; the bottom of the range is for excellent files | CommBank: lower-end rates may be offered to customers with an excellent credit history; Westpac: half of customers at or below the 8.49% median |
| Secured or unsecured | Secured is cheaper because the car is collateral | Westpac and NAB both publish the car as the reason for the lower rate; NAB unsecured runs to 22.00% against 13.54% secured |
| Vehicle age | Older cars fall outside secured products or price higher | Westpac, BankSA and Great Southern Bank cap at 7 years; CommBank at 10; NAB at 12 years at application and 15 at the end of the term; loans.com.au at 15 years at the end of the term |
| Electric or hybrid | Discounted at most lenders | CommBank 6.49% to 8.49% for eligible EVs (5.79% under its EV Access Program); NAB 0.75% off; Great Southern Bank green loan from 6.09%; Plenti 0.5% off new EVs; Westpac separate EV and hybrid rates |
| Fees | Raise the comparison rate by up to about 1.5 points on a $30,000 five-year loan | Westpac 6.49% becomes 7.90% comparison with its $250 establishment and $15 monthly fees; NAB $350, CommBank $250, Pepper Money $499 establishment |
| Balloon | Lowers the repayment, raises total interest | Pepper Money offers balloons on new, demo or under-one-year-old cars; Westpac and BankSA publish no balloon; loans.com.au no longer offers them on new loans |
How to get a low rate car loan
The cheapest car loan is usually secured, on a newer car, for a borrower with a clean credit file, and compared on the comparison rate. In practice:
- Secure the loan on a car under the lender's age limit; the secured car loan guide lists the limits.
- Get more than one personalised quote without stacking credit enquiries: Plenti, loans.com.au and Great Southern Bank publish quotes with no credit score impact, and a broker can compare across its panel before an application is lodged.
- Take the EV or hybrid discount if the car qualifies.
- Keep the term to what you will actually own the car for.
- Compare comparison rates, not headline rates, especially against a dealer's offer, which the dealer finance guide covers.
A car loan broker prices your file across the lenders on their panel and brings back the comparison rates side by side.
Car loan guides
Where the rate comes from, and the calculators.
Caravan, boat and motorcycle loans
The same secured and unsecured loans, with each lender's own limits on the vehicle's age and value.
Car loan interest rate FAQs
Who has the best car loan rates right now?
What is a good interest rate for a car loan?
Is 6.09% a good interest rate for a car loan?
Will car loan interest rates drop to 3% again?
What is the current interest rate for a car loan?
What are the repayments on a $30,000 car loan?
How much is a $40,000 car payment for 60 months?
Why is a secured car loan cheaper than an unsecured one?
Do car loan rates follow the RBA cash rate?
What fees come with a car loan?
Are there cheaper rates for electric vehicles?
Find out where you sit in the range
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