Personal loans for cars

This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:

• its appropriateness to your circumstances
• obtaining professional advice specific to your needs, including financial, taxation and legal advice

Unsecured Fixed Rate Personal Loan interest rate ranges and the representative rate are set out below. Comparison rates and examples are based on a $30,000 unsecured fixed rate loan over 5 years:

• Interest rates range from 8.50%² p.a. to 20.50% p.a. (comparison rate from 9.89% p.a. to 21.79% p.a.). The estimated total amount payable including fees is between $38,080 and $49,341
• The representative rate is 16.00%³ p.a. (17.32% p.a. comparison Rate), based on this representative rate the estimated total amount payable including fees is $44,923

Unsecured Variable Rate Personal Loan interest rate ranges and the representative rate are set out below. Comparison rates and examples are based on a $30,000 unsecured variable rate loan over 5 years:

• Interest rates range from 8.50%² p.a. to 20.50% p.a. (comparison rate from 9.89% p.a. to 21.79% p.a.). The estimated total amount payable including fees is between $38,080 and $49,341
• The representative rate is 16.00%³ p.a. (17.32% p.a. comparison Rate), based on this representative rate the estimated total amount payable including fees is $44,923

Secured Personal Loan interest rate ranges and the representative rates are set out below. Comparison rates and examples are based on a $30,000 secured loan over 5 years:

• Interest rates range from 6.99%² p.a. to 13.49% p.a. (comparison rate from 8.40% p.a. to 14.83% p.a.). The estimated total amount payable including fees is between $36,784 and $42,558
• The representative rate is 8.99%³ p.a. (10.38% p.a. comparison rate), based on this representative rate the estimated total amount payable including fees is $38,506

¹ Eligible vehicles must be fully electric, or hybrids emitting less than 120g C0₂ emissions per kilometre. If you're using the car as security it must be no more than seven years old, not currently under finance and have an active comprehensive insurance policy. The comprehensive insurance policy must be organised prior to loan funding.

² Interest rates at the lower end of our range, for example 8.50%/8.50%/6.99% p.a. (comparison rate 9.89%/9.89%/8.40% p.a.), may be offered to customers with an excellent credit history.

An excellent credit history is determined by, among other things, paying your bills and making loan repayments on or ahead of time, being disciplined with your credit applications, and not overextending yourself financially.

Actions that can negatively impact your credit history include missing bill or loan repayments, defaulting on your credit facility, or making a large number of credit applications in a short period of time. You can find out more about how your credit score is calculated and tips for improving your credit score at our Credit Score Information Hub.

³ At least half of our customers will receive the representative rate or lower. It may not be the actual rate you receive.

Your interest rate may be different and is based on a number of factors, including your credit history, the information you provide and our assessment of your application. We'll confirm your interest rate upon submission of your application.

⁴ Additional repayments made on a Fixed Rate Loan are not available to be redrawn. View the Personal Loan Terms and Conditions.

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.

⁵ See Commbank Sustainable Economics report published 3 July 2023.

⁶ The Australian National Electric Vehicle Strategy page 14.

^{^} See report from the “Electric Vehicle Council: State of Electric Vehicles”, pages 63-67, published on July 2023.

^# $176 weekly repayment is calculated on an example of a $50,000 green secured loan over a term of seven years and our lowest rate of 6.49% p.a. (comparison rate 7.26% p.a.). 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.

^* See article by EVNex: “The Best Electric Vehicle Charger for your home”, published on 12 December 2022.

Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges payable. Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.