New and Used
Car Loan

For many drivers of used cars, we’re a go-to for car finance. Plus, we lend money for cars up to 15 years old.

Apply Now

Apply in less
than 10 minutes


Fixed Rate
Comparison Rate
  • For vehicles less than 3 years old
  • Be a homeowner or mortgage holder
  • Be employed full time with the same employer for at least 18 months


Fixed Rate
Comparison Rate
  • For all other vehicle loans

Fees & charges

Establishment Fee$295
Loan Service Fee$10 per month
Australia Post Payment Handling Fee$1.50
BPAY® Payment Handling Fee$0.50
Late Payment Fee$40 in the event that you can’t make the minimum repayment by your agreed due date
Early Termination FeeUp to $750 is payable if you pay the loan out.
Consumer and commercial loans available at 6.99%^ and 9.99%^ p.a. (8.10%* and 11.08%* p.a. comparison rate)

Calculate your repayments

Find out what your monthly repayments would be on a Latitude Car Loan.


At an interest rate of 6.99% .p.a.^

  • For vehicles less than 3 years old
  • Be a homeowner or mortgage holder
  • Be employed full time with the same employer for at least 18 months
  • For all other vehicle loans

And pay it over 5 years

Your estimated monthly repayment
including all fees and charges
Total interest paid
Total amount paid

This includes establishment and monthly account keeping fees.
See all Fees & charges for this product.

Why choose a Latitude Loan?

Let’s hit pause on payments

Got a month with high expenses like rego, insurance and holidays? Pay a little extra each month, then take one month off from your repayments. You can even choose which month to take off.

Balloon payments

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.

Borrow for extras too

Borrow more than 100% of the vehicle price to cover extras like insurance and your on-road costs.

Let’s talk loan details

New and used car loans from $5,000
Fixed rateFor the life of the loan
Loan amountsFrom $5,000
RepaymentsWeekly, fortnightly, monthly
WhenChoose the day of the week your repayments are deducted
Loan terms1 - 7 years when purchased from a dealer
1 - 7 years for private sale purchases
Other benefitsFor new or used vehicles
Cars up to 15 years of age at start of loan
Extra repayments accepted1

How we compare to the Big 4

Apply online today to see if you could save on repayments.






**Monthly repayments based on the headline interest rate of 12.69% p.a. as published.
Interest rates correct as at 17th October 2019 from provider's websites. Monthly repayment amount based on a $30,000 loan over 5 years.

Latitude Car loan as compared with the 'ANZ Fixed Rate Personal Loan', CBA 'Secured Car Loan', NAB 'Fixed Rate Personal Loan For a Car', and Westpac 'Car Loan'

How to apply

  1. Apply online and get a response in 90 seconds.
  2. Provide required documents, such as your payslips and identification documents.
  3. Accept and return your loan contract via email.
  4. We pay within 24-48 hours of receiving your signed contract.


You must:
  • Be 18 years or over
  • Be a permanent Australian resident
  • Be currently employed
  • Be able to demonstrate a good credit history for the last 5 years
  • Be free from bankruptcy for the last 7 years
For loans at 6.99% p.a.^, you must also:
  • Buy a vehicle less than 3 years old
  • Be a homeowner or mortgage holder
  • Be employed full time with the same employer for at least 18 months

Frequently asked questions

About my loan
  • What is a balloon payment?

    <p>A balloon payment allows you to reduce your repayments during the term of the car 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 five years with a 30% balloon, your regular repayments at a comparison rate of 8.10% would drop from $609.73 per month to $467.24 per month with the addition of a $9,000 lump sum payment due with your final payment.</p><p>Balloon payments are available for cars that are up to five years of age. We will contact you within the last six months of your loan term to discuss your payment options. Your payment options could include re-financing the balloon amount in a new car loan. Alternatively, you could pay this balloon payment from your own funds.</p>

  • What is the month off option?

    <p>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 car 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 $609.73 per 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.</p><p>The month off option must be selected prior to taking out the loan, must be the same month each year, cannot be in the first month of the loan and only applies to loan terms of up to five 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.</p>

  • How much can I borrow?

    The minimum loan amount for a car loan is $5,000. The maximum you can borrow is subject to lending criteria and will depend on your current financial situation.

  • How old can the car be?

    It can be up to 15 years old. If your car does not meet this requirement, then one of the <a href='/loans/personal-loan' target='_blank'>personal loan</a> products could help you get on the road.

  • What other types of motor loans does Latitude offer?

    While we offer car loans for both new and used cars, we also offer loans for light commercial vehicles (up to 4.5 tonnes), motorbikes, jet-skis (PWCs), boats, caravans, campervans and horse floats.

Application and approval
  • Can I get a car loan for business purposes?

    At least 50% of the vehicle’s use must be for personal purposes. If over 50% of the vehicle’s use is for business purposes, then please call us on 13 10 24.

  • Do I need to provide security?

    Since we provide secured car loans, you will need to provide the car as security. If this doesn’t suit, please consider one of our <a target='_blank' href='/loans/personal-loan'>personal loan</a> products.

  • How long until I receive my funds?

    Once your Car Loan is approved and your contract is signed and returned, the funds will usually be available in the seller’s account within the next business day.

  • Am I eligible for a car loan?

    At a minimum, you will need to have a regular income, be an Australian Permanent Resident and be at least 18 years of age. Other credit and approval criteria will apply depending on your situation. We can usually let you know if your application is successful by the next business day.

  • When will I get a decision on my application?

    In most cases, you can expect to receive a decision in one to two business days.

Fees, charges and interest
  • Will the car loan interest rate on my loan be fixed or variable?

    Since this is a fixed interest rate car loan, the interest rate on your loan and your repayment amounts stay the same throughout the life of the loan. Having this certainty makes budgeting easier and more manageable.

  • How is interest calculated?

    Interest is calculated at the car loan interest rate on the total amount borrowed over the loan term and then this total amount is divided by the number of loan repayments over the full loan term.

  • Will I be charged for making extra payments?

    Additional repayments can be made at any time. If, however, you pay off your car loan early, an Early Termination Fee may apply. Please see the interest rates and fees section on this page for more information.

  • How can I manage my Car Loan repayments to avoid fees?

    <p>One of the best ways to avoid unnecessary fees (like a Late Payment Fee) is to ensure you make your Car Loan repayments on time. Making your repayments by direct debit saves you time and the hassle of manual repayments. It also helps you to avoid fees from missed or late payments. Always make sure that you have sufficient funds in your account so that all direct debits and other scheduled payments can be made.</p><p>If your circumstances change and could affect your repayments, please call us on 13 10 24 to discuss your options. You can also make additional repayments so you pay off your loan sooner, however an Early Termination Fee may apply.</p>

We're here to help

Got questions for our car loan team? Call now on 13 10 24

Mon - Fri 9am - 5pm (AEST), Weekends closed.

Important information

^ Approved customers only. Terms, conditions, fees and charges apply for Latitude Personal Loan. Terms, conditions, fees and charges apply for Latitude Car and Motor Loan. All applications are subject to lending and approval criteria.

Excellent Credit Rating is as determined by Equifax.

Loan terms range from 1-7 years.

Latitude Personal Loan rates range from 6.99% p.a. to 18.99% p.a. for secured loans (comparison rates 8.25% p.a. to 20.16% p.a.) and 7.99% p.a. to 19.99% p.a. for unsecured loans (comparison rates 9.24% p.a. to 21.16% p.a.).

Latitude New and Used Car (Including Boat, Caravan, Motorbike and Commercial Vehicle) Loan rates are 6.99% p.a. and 9.99% p.a. (comparison rates 8.10% p.a. and 11.08% 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: A personal loan of $30,000 borrowed for 5 years with an 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.

1 You can make additional payments at any time, however an early termination fee may apply if the loan is repaid within the first half of your loan term.