You do not have a car to go to work or your car is broken last week and you want to purchase a new car. But you have a problem with the financial. Do not worry, you can consider the Commbank car loan.

Commbank car loan
Commbank car loan

In many articles before, the Info Credit Free introduced readers to a lot of car loans in Australia in some banks such as NAB car loan, ANZ car loan, Westpac car loan…


This post includes four parts, they are: “The purposes of the Commbank car loan”, “The features & benefits of the Commbank car loan”, “The rates and fees of the Commbank car loan” and “How to apply for the Commbank car loan”.

1. The purposes of the Commbank car loan

A Secured Car Loan in Commbank is for buying a new or used car that’s less than 5 years old. The amount can be for partial purchase price or the full depending on whether you’ve paid a deposit.

People are unable to use the car loan in Commbank for:

  • People are unable to buy a car for more than 5 years old
  • People are unable to buy a car where there is another purpose, e.g. a car for $20,000 and furniture for $5,000
  • People are unable to buy a caravan, motorbike, commercial vehicle or truck
  • People are unable to refinance an existing car loan
  • People are unable to buy a car which has finance owing on it.

2. The features & benefits of the Commbank car loan

  • Everyone can choose a repayment frequency and a term to suit you: Pay weekly, fortnightly or monthly over 1 to 5 years.
  • Manage the loan wherever people are: Keep track of the loan and make repayments in NetBank and the CommBank app.
  • People can stay in control with a fixed interest rate: Interest is fixed so people know what the repayments will be for the life of the loan. See more about rates and fees.
  • No maximum loan amount: Borrow minimum $10,000
  • People can get a lower interest rate: Borrow at a lower rate than an unsecured loan by using the car – new or less than 5 years old – as security for a secured personal loan.
  • People can flexibility to make extra repayments: Up to an additional $1,000 per year
Commbank car loan
Commbank car loan

3. The rates and fees of the Commbank car loan

3.1. The rates of the Commbank car loan

Rate type Interest rate
Fixed rate From 6.99% p.a.* (normally starting from 8.49% p.a.) if you apply and fund by 28th October
Comparison rate From 8.05% p.a.* based on a $30,000 loan over 5 years (normally starting from 9.54% p.a.) if you apply and fund by 28th October.
NOTE: The interest rate of each person will be based on a number of factors, including the information people provide and the assessment of the application. Commbank will confirm the actual interest rate in the loan offer document.

Warning: This comparative rate only applies to examples or examples given. Different amounts and terms will lead to different rates of comparison. Costs such as redraw fees or early repayment and cost savings such as waivers, are not included in the comparative rate but may affect the cost of the loan.

3.1. The fees of the Commbank car loan

Fee type
Establishment fee
Upfront cost payable when accepting a loan
Loan service fee Monthly charge to cover costs of keeping an account active
$10 per month
A $ 250 prepayment fee and a $ 10 monthly fee will apply, please consider these fees when deciding whether or not this loan suits your needs. Some additional fees, including late fees, government fees, and other e-banking fees may apply.

 3.3. The fees that people may apply

Fee type Definition Amount
Late payment fee

The fee is charged when, 5 business days after the payment due date, people are in arrears and do not receive a full refund of the monthly loan.


Early repayment adjustment

Adjustment of early repayment can be made for the loss that the Bank expects to make because the loan is repaid earlier than expected. Adjustment of repayment before maturity is applied to bring the Bank back to financial position like unpaid loans.

hkbbOther electronic banking fees Please refer to the Electronic Banking General Information and Terms and Conditions
Government charges

The State Government may apply different registration fees when the loan secured by a mortgage or other guarantee is established or discharged. To determine how much you will be charged, please contact the relevant State Government department.

4. How to apply for the Commbank car loan

People can apply for online loans and get a response within 60 seconds.

Alternatively, people also call Commbank on 13 1431 8am–8pm, 7 days (Sydney/Melbourne time) or visit your local branch

  • Explore: Tell the Commbank what people want the loan for and explore the loan and repayment options.
  • About you: Tell the Commbank about the finances.
  • Review and submit online: Once the Commbank has the application of customers Commbank will review it and give them a response within 60 seconds.
  • Drop into a branch: If the application is conditionally approved, take the supporting documentation into the nearest branch to complete the process. New customers will also need an ID check.

In addition, you can get more and more information about a variety of personal loans in Australia at Info Credit Free site. If you are interested in these loans, you can click to links Westpac commercial property loan,  Commonwealth bank home loan, payday loans no credit check, loans for low-income earners, no deposit home loans…

Besides, people can get information about loans of other banks in Australia such as NAB or Westpac in posts: Westpac refinances home loan, Westpac business loan,  NAB investment loan rates, NAB home loan contact…

Hillary (Team Content) – Info Credit Free