Benefits of buying a car with a NAB Personal Loan
How to apply
Eligibility
To apply online, you need to be:
Documents you need
You’ll need to provide us with:
Apply online
You’ll need to provide us with:
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Submit your application and if you're conditionally approved we'll let you know in under 60 seconds.
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We’ll verify the information you gave us (which may include contacting you for more information).
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Receive your loan offer and accept it.
How much can I borrow for a car loan?
The amount can differ based on your budget and borrowing power.
We offer unsecured personal loans so you can borrow between $5,000 and $55,000 with a term between one and seven years. If approved, you’ll receive the amount as a lump sum at the beginning of the loan term.
Our interest rates explained
We offer a range of rates on our personal loans from 6.99% p.a. to 20.49% p.a. (comparison rate 7.91% p.a. to 21.33% p.a. ). The interest rate you’re offered is based on your personal circumstances.
We decide your rate based on:
- your history with NAB, including if you’re an existing NAB customer
- information you provide in your application, including income, assets, debts and expenses
- your credit history report including your credit score.
After you submit your application, we’ll give you an indicative interest rate if you’re conditionally approved. This is subject to verification of the information you give us in your application. Once we’ve verified your information, we’ll give you the loan documentation setting out your interest rate and other important information. Keep in mind that the rate shown in the loan documentation is subject to change and may be different on the day of settlement.
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A fixed rate stays the same for the life of the loan, so your loan repayments will also stay the same.
A variable rate can go either up or down over the life of the loan – this means your minimum repayment may change. A variable rate loan also gives you access to a redraw facility, so if you need money unexpectedly you can redraw extra funds you’ve paid.
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A comparison rate is used to help you identify the true cost of the loan, including the interest and some fees and charges. This makes it easier to compare the overall cost of different loans.
When you read comparison rates, take note of the loan amount and term that they are based on. These affect the comparison rate and you want to be comparing apples with apples.
Looking for another calculator?
Estimate what you can afford to borrow or see what your repayments could be if you consolidated your debt.
Important information
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Consider the NAB Internet Banking Terms and Conditions which apply when using NAB Internet Banking.
Terms and conditions and fees and charges apply. Approval and loan amount are subject to our credit assessment criteria. Information, including fees are subject to change. See our general terms for personal loans, personal banking fees and charges and indicator rates for other personal lending.