Used Car Loan
Whether it’s your first car, a second car, motorcycle or a total change of the type of vehicle, there’s nothing quite like the feeling of being given the keys to your new set of wheels.
- From
- 6.39%
- 7.17% comparison
Interest Rates
| Type | Rate | Comparison | Applies To |
|---|---|---|---|
| Variable Choose a loan term from one to seven years | 6.39% | 7.17% | — |
Fees
| Fee | Type | Amount |
|---|---|---|
| Default notice (enforcement notice) Payable each time we send you a reminder notice relating to a default on a loan | Event | $20.00 |
| Arrears reminder notice fee (per letter) Payable each time we send you a reminder notice relating to arrears on a loan | Event | $20.00 |
| Loan Variation Fee Payable when the loan conditions are varied at the request of the loan holder | Event | $50.00 |
| Processing Fee (Security) Payable on registration of loan security | Event | $50.00 |
| Registration Fee (Security) Payable on registration of loan security | Event | $6.00 |
| Personal Loan Service Fee Charged monthly · This fee is charged on the last day of each month during the loan term. | Ongoing | $10.00 |
Features
- Quick approval process.
- Choice of 1-7 years. — Term.
- Repayments Weekly, fortnightly, monthly. — Repayment frequency
- No exit fee. — Early repayments.
- No early repayment fee.
- Unlimited transactions — Additional repayments.
- Can make extra repayments.
- Redraw facility
- Free redraw.
- Digital banking — https://secure.defencebank.com.au/internetlending/public/start.aspx
Eligibility
- Residency statusAustralian residents only.
- Minimum age18
- Individuals only — Lending criteria.Not available for non personal borrowers.
- Individuals must have capacity.
- Business customers — SecurityMotor Vehicle/Motor Cycle.
Constraints
- Minimum limit — $1,000.00
- Maximum limit — $250,000.00Secured by motor vehicle
- Maximum balance — $100,000.00unsecured
More Information
Published by Defence Bank under the Consumer Data Right · Last updated 20 April 2026 · Product ID 376 · View on CDR.gov.au