Secured Fixed Rate Car Loan
Unlock the value of your car for a typically reduced interest rate.
- From
- 6.79%
- 8.2% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Discount To qualify for the energy-efficient discount, you must be an essential worker, or earn less than $100,000 per year, and use your personal loan to buy an Electric or plug-in hybrid car valued at less than $55,000, emitting less than 75g CO2 emissions per kilometer. Comparison rate: 7.21% p.a. based on a secured loan of $30,000, over a term of 5 years. Warning: Comparison rates are true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. | 5.79% | 7.21% | — |
| Discount To qualify for the energy-efficient discount, you must use your personal loan to buy an Electric or plug-in hybrid car emitting less than 75g CO2 emissions per kilometers. Comparison rate: 7.90% p.a. based on a secured loan of $30,000, over a term of 5 years. Warning: Comparison rates are true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. | 6.49% | 7.9% | — |
| Fixed · 4 years Minimum rate 6.79%, 4 year loan term. Your interest rate will be based on a number of factors, including the information you provide and our assessment of your application. Interest rates at the lower end of our range may be offered to customers with an excellent credit history. We'll confirm your actual interest rate in your loan offer document. Comparison Rate (minimum rate): 8.20% p.a. based on a $30,000 loan over 5 years. 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. |
Fees
| Fee | Type | Amount |
|---|---|---|
| Early repayment adjustment To cover reasonable administrative costs and estimated losses incurred by CBA as a result of you closing your fixed term loan early. This fee will not exceed the reasonable administrative costs and estimated losses arising from the early full repayment of your personal loan. | Exit | $15.00 |
| Establishment Fee Upfront cost payable when accepting a loan. | Upfront | $250.00 |
| Late payment fee May be payable on the fifth business day after the repayment due date if at the end of the previous business day your loan is in arrears | Late payment | $20.00 |
| Loan service fee Charged monthly · Monthly charge to cover costs of keeping account active. | Ongoing | $15.00 |
Features
- 1 to 7 years.
- Pay weekly, fortnightly or monthly via direct debit. If you pay by any other means, your repayments will be monthly.
- Digital banking
- Wherever you are in the world, CommBank gives you the choice and control to securely manage all of your accounts on a range of devices, the way you want.
- Extra repayments
- You can make additional repayments, subject to an early repayment adjustment. Additional repayments made on a Fixed Rate Loan are not available to be redrawn. We may charge an early repayment adjustment if loan is fully repaid with 12 or more months remaining on loan term, and we reasonably estimate we will incur a loss or administrative cost.
- Interest is fixed so you know what your repayments will be for the life of the loan
- You can typically borrow at a lower rate than an unsecured loan by using the car that you're buying as security for a Secured Fixed Rate Car Loan
Eligibility
- Minimum age — 18 years
- Individuals onlyIndividuals must have the legal capacity to enter into the loan contract. Not available for non-personal borrowers.
- A Secured Fixed Rate Car Loan can be used for buying a new or used car up to seven years old that doesn't have any finance owing on it. The amount can be for the full or partial purchase price depending on whether you've paid a deposit. You're unable to borrow for additional loan purposes (e.g. a car for $20,000 and furniture for $5,000 is not accepted) when buying a car.
- Individuals must be buying a car that is unencumbered (unless buying a car privately via the VEME platform), is up to seven years old at the time of taking up the loan, will be registered to the customer, is not written off and will have comprehensive insurance cover.
- Individuals must be eligible to work in Australia
- Individuals must be employed or receive regular income
- Individuals must have a good credit rating
- Individuals must have comprehensive insurance on the vehicle they are using as security
- Individuals must not be going through the process of bankrupcy
- Meet CBA's credit assessment criteria which includes demonstrating the capacity to make the required repayments on the credit facility without substantial hardship.
- The maximum number of borrowers eligible to apply per application is one.
- The vehicle being used as security must not have any finance owing on it
- Residency status — Must live in Australia and be either: an Australian citizen, an Australian permanent resident (permanent visa sub class holder), a New Zealand citizen, or eligible non-resident visa holder.
More Information
Published by CommBank under the Consumer Data Right · Last updated 20 May 2026 · Product ID 4bf3ecbdf7b447ef97c815751377715d · View on CDR.gov.au