Founded in 1817, Westpac is Australia’s oldest bank, trusted by millions of customers and awarded for its innovative digital banking experience.
What you need to know about this loan
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Loan Amounts Offered: AUD $10,000 – $100,000
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Loan Terms (monthly): 1 – 7 years
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Payment methods: Weekly, fortnightly, or monthly
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Interest rate: Fixed rate from 6.49% p.a. – 12.99% p.a. (median 8.49% p.a. | comparison rate 7.90% – 14.34% p.a.)
Pros
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Low starting rate – enjoy fixed rates as low as 6.49% p.a.
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EV & Hybrid discount – benefit from rates from 5.99% p.a. on eco-friendly cars.
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Quick approval – conditional approval within 60 seconds online.
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Funds fast – receive money in your account within 60 minutes.
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No balloon payment – you fully own the car at the end of the loan.
Cons
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Car restrictions – vehicle must be under 7 years old and meet strict eligibility.
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Prepayment fee – charged if you repay in less than 2 years.
Why choose Westpac for your car loan?
While CommBank is known for personal loans, Westpac offers a lower starting fixed rate (6.49% p.a.), making it ideal for new car buyers.
NAB provides similar loan terms, but Westpac stands out with funds available in 60 minutes, giving you speed and convenience.
ANZ requires more documentation before approval, while Westpac’s 60-second conditional approval helps you shop with confidence faster.
Macquarie offers flexibility, but Westpac’s no balloon payment policy ensures no surprises at the end of your term.
St. George provides good rates, but Westpac’s EV and Hybrid loan discounts make it the smarter option for eco-conscious buyers.
How to apply for your Westpac Car Loan
Applying online takes just minutes. With a quick eligibility check, instant conditional approval, and funds available within 60 minutes, you can get behind the wheel of your next car faster than ever.