Rates, fees & charges
8.10%* comparison rate
service fee $10
termination fee $750
Consumer and commercial loans available from 6.99%^ to 14.99%^ p.a. (8.10%* to 16.06%* p.a. comparison rate)
Other Fees & Charges You May Incur:
- Australia Post payment handling fee - $1.50
- Late payment fee - $40 in the event that you can't make the minimum repayment by your agreed due date
- BPAY® payment handling fee - $0.50
- An early termination fee of up to $750 is payable if you pay the loan out early.
An early termination fee of up to $750 is payable if you pay the loan out early.
- $750 if the original loan amount exceeds $12,000, and thereafter the amount of the fee is that amount multiplied by the number of unexpired whole months in the term at the time this contract is paid out, divided by the number of whole months in the term. Example: Loan is a 5 year term of $20,000, customer decides to payout loan at 4 years. ($750 x 12) / 60 = $150.00
- 6.25% of the original loan amount is $12,000 or less, and thereafter the amount of the fee is that amount multiplied by the number of unexpired whole months in the term at the time this contract is paid out, divided by the number of whole months in the term. Example: Loan is a 5 year term of $10,000, customer decides to payout loan at 4 years. ((6.25% x 10,000) x 12) / 60 = $125.00
How we compare to the Big 4
Our interest rates start at a lower point than the Big 4. Apply online today to see if you could save on repayments.
Interest rates correct as at 24th April 2018 from provider's websites. Monthly repayment amount based on a $30,000 loan over 5 years. Latitude Car and Motor loan as compared with the 'ANZ Secured Car Loan', CBA 'Secured Car Loan', NAB 'Fixed Rate Personal Loan For a Car', and Westpac 'Car Loan'.
^ Approved customers only. Terms, conditions, fees and charges apply. For the ‘Latitude Car & Motor Loan' and the 'Latitude Personal Loan’ interest rates range depending on a number of factors, including the information you provide us and our assessment of your application. All applications are subject to lending and approval criteria.
* Comparison rates for all the above products are based on a loan of $30,000 over 5 years.
WARNING: The comparison rates are 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.
EXAMPLE: A secured motor loan of $30,000 borrowed for 5 years with the minimum interest rate of 6.99% p.a. (8.10% p.a. comparison rate), would equate to a total amount payable of $36,584 (including a $295 establishment fee and $10 monthly loan servicing fees).
1 You can make additional payments, however if you decide to make early or extra repayments, an early termination fee may apply.
Car & Motor loan calculator
Use our handy calculator to determine what your repayments may be on that new car, motorbike or boat.
Stay in control
Choose from weekly, fortnightly or monthly repayments to suit your budget. Make lump sum repayments whenever you want at no extra charge.
Take a month off
Got a month with high expenses; Rego, Insurance, Summer Holidays? Pay a little extra each month, and then take a month off from your repayments. You can even choose which month you want to take off.
How does it work? Essentially, you make 12 months’ worth of repayments in 11 monthly instalments throughout the year, allowing you to take a month off. For example, let’s say you take out a loan of $30,000 at a comparison rate of 8.10% p.a. over 60 months. If you weren’t using the Month-Off option, your monthly repayments would be $609.73per month. However, if you use the Month Off Option your monthly repayments would be $655.06 per month, but you only make 11 repayments per year instead of 12 repayments per year.
The month off must be selected prior to taking out the loan, must be same month each year, cannot be in the first month of the loan and only applies to loan terms of up to 5 years. Using the month off option means that your loan term remains the same as you are making the equivalent amount of repayments over the same period.
Reduce your regular repayments, and opt to make a once off lump sum payment at the end of your loan, up to 30% of the vehicle value.
A balloon payment allows you to reduce your repayments during the term of the loan by making a once off lump sum payment at the end of your loan. For example, if you were to take a $30,000 loan over 5 years with a 30% balloon, your regular repayments at a comparison rate of 8.10% would drop from $609.73per month to $467.24per month with the addition of a $9,000 lump sum payment due with your final payment.
Balloon payments are available on cars and light vehicles up to 5 years of age, and marine & caravans up to 3 years of age. Balloon payments are not available for motorbikes. The balloon repayment will be due with your final repayment. We will contact you within the last 6 months of your loan term to discuss your payment options. Your payment options could include re-financing the balloon amount in a new car or personal loan; or you could pay this balloon payment from your own funds.
Borrow more than 100% of the vehicle price to cover extras like accessories, insurance and even your on-road costs.