What is a secured car loan?
A secured car loan is a financing option where the vehicle you’re buying serves as collateral for the loan. It may offer lower interest rates and higher borrowing limits than unsecured loans, making it more affordable. However, if you don’t meet your repayment obligations, the lender can repossess the car to recover the outstanding debt.
Benefits of a NAB Car Loan
Borrow up to $100,000
Whether you’re shopping for a new or used car, borrow between $10,000 and $100,000 to get behind the wheel with confidence.
Fast decision
Apply in minutes and receive same day approval, with funds transferred within one business day of us agreeing to the loan.
Competitive rates
For secured loans, you’ll get personalised fixed rates from 6.49% p.a. to 13.29% p.a. (comparison rates from 8.05% p.a. to 14.79% p.a. ).
Zero exit fees
Save money and experience peace of mind with the freedom to pay off your loan early with no exit fees or penalties.
Flexible loan terms
Choose from one to seven-year terms to fit your budget and timeline, putting you in the driver seat.
Electric vehicle discount
Enjoy a 0.75% electric vehicle discount on all eligible all-electric and plug-in hybrid cars.
Things to consider
Before you apply for a NAB Car Loan, here are a few things to consider.
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The interest rate will be fixed for the loan term
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Repayments are required monthly by direct debit
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No redraw is available from extra funds
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Sole borrowers only can apply
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Your car will be used as security for repayment of the loan
NAB Car Loan fees
| Loan establishment fee | $350 |
|---|---|
| Loan service fee | $15 per month |
| Late payment fee | $7 per week |
| Exit fee | $0 |
Eligibility Check you’re eligible to apply online
How to apply
Step 1: Get your rate quote
You can get a quote in as little as a minute without impacting your credit score. Simply tell us a few things about yourself and the car you’re looking to purchase (if you know it yet).
Once you have a rate quote, you can customise your loan details to get an estimate of your monthly repayments.
Step 2: Submit your application
Tell us more about yourself, such as your income, expenses and debts, and the car you’re looking to purchase.
Step 3: We’ll review your application
We’ll let you know if you’re conditionally approved and what additional information we need to finalise your loan such as the vehicle details, typically within one business day.
Step 4: Review and sign your loan
To finalise your loan offer, you’ll need to review and sign the loan contract.
Step 5: Funds are ready
Funds will be transferred to the vendor within one business day of us agreeing the loan.
Ready to get started?
Get your rate quote in as little as one minute through NAB Internet Banking, without impacting your credit score.
Tips Car buying guides
Buying a car
Buying a car? We'll show you some finance options along with cost saving tips on running your car.
How to finance your new car?
Learn if a car loan, dealer finance or leasing is the right option for your new car.
How to get a car loan?
Learn about our secured and unsecured car loans, and how to get approved so you can get behind the wheel sooner.
Help and support
We have guides and support to help you apply for a loan or manage an existing one.
Other products to consider
Still interested in buying a car? Here are some other options that may suit your needs.
NAB Car Loan for an electric vehicle
Go electric and save on interest with a NAB Car Loan.
Car loans
With a loan from us, you can buy your dream car, first car or something in between.
Get in touch
Call an expert
Speak with one of Plenti’s loan specialists.
Monday to Friday, 9:00am to 5:30pm (AEST/AEDT)
Closed on weekends and National Public Holidays
Terms and Conditions
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