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How is my interest rate calculated?
At Latitude, we use risk based pricing to determine your personalised interest rate using information from a number of sources including your:
- Credit file
- Credit score
- Personal information
- The age of the vehicle you're purchasing
How quickly will I find out my personalised interest rate?
If you submit your online car or vehicle loan application:
|9am - 3pm EST |
Monday to Friday
|We will call you within 2 hours to confirm your personalised interest rate and loan offer.|
|After 3pm EST weekdays |
or on weekends
|We will call you the next working day to confirm your personalised interest rate and loan offer|
What is a credit score?
Your credit score is calculated using a range of information, which include your personal details, the type of credit providers you've applied for credit with, the number of credit enquiries you've had, and unpaid or overdue loans. See ASIC’s MoneySmart for more information and how to check your credit score.
^Approved customers only. Terms, conditions, fees and charges apply. All applications are subject to lending and approval criteria. For the Latitude Low Rate Personal Loan, Excellent Credit Rating is as determined by Equifax.
Latitude Low Rate Personal Loan interest rate is 10.99% p.a. with a comparison rate of 12.21% p.a. and is available as a secured or unsecured loan.
Latitude Personal Loan rates range from 12.99% p.a. to 28.99% p.a. for secured loans (comparison rates 14.20% p.a. to 30.13% p.a.) and 13.99% p.a. to 29.99% p.a. for unsecured loans (comparison rates 15.19% p.a. to 31.13% p.a.).
Latitude Car and Motor Loan rates range from 6.99% p.a. to 14.99% p.a. (comparison rates 8.10% p.a. to 16.06% p.a.) and is available as a secured loan.
*The Comparison rate for the above products are based on $30,000 over 5 years.
WARNING: These comparison rates apply only to the example or examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
EXAMPLE: An unsecured personal loan of $30,000 borrowed for 5 years with the minimum interest rate of 10.99% p.a. (12.21% p.a. comparison rate), would equate to a total amount payable of $40,233 (including a $250 establishment fee and $13 monthly loan servicing fees).
Results from the calculators should be used as an indication only, and they do not represent either a quote or pre-qualification or approval for a loan. The calculator should only be used as a guide to see how loan repayments can vary when you change the loan amount, interest rate and loan term. Fees and charges are payable and the calculators do not take these into account.