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All our car loans come with

$0 monthly fees
Enjoy having a little extra money in your pocket.
Unlimited extra repayments
Make extra repayments without any fees.
A personalised rate*
Tailored to your credit score.
No penalties for early payout
Pay off your loan sooner without being charged a fee.

Compare our flexible car loans

Secured Fixed Car Loan
Loans from $5,000 to $100,000
Interest rate from
Comparison rate from1
Used for
Vehicles up to 7 years old
Unsecured Fixed Personal Loan
Loans from $5,000 to $75,000
Interest rate from
Comparison rate from2
Used for
Green Car Loan
Loans from $5,000 to $100,000
Interest rate from
Comparison rate from1
Used for
Green cars up to 7 years old
What's the difference between secured and unsecured loan?
What is a comparison rate?
What is a green loan for?

Estimate your personalised rate* and repayments

An ideal loan for a range of purposes. Learn about personal loan types
Available for new or used cars and motorbikes up to seven years old. Learn about personal loan types
Available for electric and hybrid cars up to seven years old. Learn about personal loan types
Available for eligible green purchases. Learn about personal loan types
Must be between $5,000 and $100,000.
Loan term (years)
Repayment frequency
Estimate your credit rating
Tell us what you think your credit rating may be and we can estimate your interest rate. What’s a credit score?
Estimated repayments
Interest rate for good credit
Comparison rate1
This estimate is based on information you've provided. Your interest rate and repayments will be confirmed on assessment.
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Your total repayments will be $XX,XXX. Your total interest will be $X,XXX.

The calculations provided are estimates only and are based upon the information entered by the user. The calculations do not include upfront or continuing credit fees and charges and do not constitute a loan application or variation to an existing facility, loan offer or loan approval.

Your contracted personal loan repayments will be set to a monthly frequency, meaning you will need to meet the agreed repayment amount by the due date stated on your loan contract each month. To meet this minimum monthly amount, you can however make repayments weekly or fortnightly.

Everything you need to buy a car the clever way

Buying a car is a big deal. That’s why we developed these helpful articles so you can buy a car with total confidence.

How to get a car loan

If you want to buy a car, then taking out a car loan can make all the difference. Learn everything you need to know about getting a car loan in our article.

Read more
Tips for buying a new or used car

Buying a car is a huge investment. But we've got you covered. We explain the car buying essentials – so you can buy a car with confidence.

Read more

Further reading


Car buying FAQs

Getting a car loan

What is the difference between a secured and unsecured personal loan?

To buy a car, you can take out a secured car loan or an unsecured personal loan.

A secured loan is 'secured' against the asset you are borrowing for, in this case your car. This means that if you’re unable to repay the loan for whatever reason, the lender can sell the asset to cover their costs.

As secured loans represent less of a risk to lenders, they generally come with lower interest rates than unsecured loans.

An unsecured personal loan, on the other hand, doesn’t require an asset as security. For this reason, they tend to be used for non-material purchases like holidays and weddings, or for debt consolidation. But you can also use them to buy a car if you don’t want to use your car as security, or if the car you’re buying is over seven years.

How does car finance work?

The term ‘car finance’ refers to the different ways you can borrow money to buy a car.

If you don’t have the money to pay for a car upfront, then financing it with a car loan is a clever way to borrow the amount you need, and pay it off in small, flexible repayments.

It’s important to note that car loans attract interest on top of your regular repayments. The interest rate will vary between lenders, so it pays to compare.

When you apply for a car loan, we will assess your income and expenses to ensure you can pay it off. Then when it’s time for settlement, we will pay the seller directly and you’ll officially own your car.

What is a comparison rate?

A comparison rate is the interest rate, plus additional fees and charges you will be expected to pay over the loan term. As comparison rates indicate the true cost of a loan, they make it easier to decide which is best for you.

Is it possible to apply for a joint personal loan?

Yes, we support joint personal loan applications.

Can I make additional repayments?

Yes, you can make additional repayments on your loan without incurring a fee.

Can I change my repayment frequency to weekly or fortnightly instead of monthly?

Yes. When your loan is settled, your repayment frequency will be set automatically to monthly. However, this can easily be changed to weekly or fortnightly if you prefer.

Do I need to find a car before I apply for a loan?

No, there is no requirement to find a car before you get loan approval. You can get conditional approval on your loan before buying a vehicle. This means we have agreed to lend you money for your car, but the final amount hasn’t been approved.

Our loans are conditionally approved until you can provide the certification of registration or vehicle registration notice. When the loan is conditionally approved, the personalised rate is confirmed – but there is not agreement to lend funds.

Our conditionally approved secured car loans are valid for 90 days, while our unsecured personal loans are valid for 30 days. This gives you time to find a car you want to buy.

Do I need a deposit for my car loan?

No, you don’t need a deposit for one of our car loans. If you did want to make a deposit, we can lend you the difference. Having a deposit can have its benefits, like reducing your loan amount and interest over time. But you might prefer to hold onto it for a different savings goal. Do whatever best suits your car buying needs.

What is a balloon payment?

Some lenders offer car loans with balloon payments. A loan with a balloon payment is typically lower as you’re repaying a portion of the loan plus interest. But at the end of the loan term, you’ll have to pay a lump sum (the balloon payment), which is the remaining balance on your loan. You’ll have to set some money aside to make the balloon payment, so it’s important you calculate the full cost to avoid paying more in the long term.

Our car loans don’t come with balloon payments, so you know what you’re getting from the start. It pays to compare car loans to find the one that’s right for you.

What do I need to apply for a personal loan?

To apply for a personal loan, you’ll need:

  • A current email address and phone number.
  • A form of photo ID (e.g. driver’s licence, passport or similar). This is so we can verify your identity.
  • Proof of income such as your most recent payslips, employment contracts, rental property statements, child support agreements, government benefit statements, etc.

Credit scores explained

What is a personalised interest rate?

A personalised interest rate is an interest rate based on an assessment of your credit score. If you have an excellent credit score and a good history of repaying loans, credit cards and other bills, you’ll likely be offered a lower interest rate.

When you apply for a personal loan, your individual situation and credit score will be considered when calculating your personalised interest rate.

How do you calculate my rate?

The rate you are offered is calculated on your personal circumstances and credit history. A few different factors are considered, including:

  • Your credit score.
  • Information provided in your application.
  • Existing loans.
  • The loan amount and your perceived ability to repay the loan.
How is a credit score calculated?

Credit scores are calculated by looking at various aspects of your credit history and profile. These can include details of any previous applications you’ve made for credit (whether successful or not), details of credit or loan products you have held in the past, your repayment history, any overdue accounts you might have, and information about any court judgements against you.

These are added together to give an overall picture of your ability to repay a loan.

As you might imagine, someone who has never defaulted on a loan will be considered a lower risk than someone with a history of missed repayments, court judgements, or bankruptcy.

Similarly, the more applications for credit on your record, the lower your score is likely to be.

Other factors which can negatively impact a credit score include a history of using ‘payday lenders’ and having open accounts with debt collection agencies.

How can I check my credit score?

You’re entitled to a free copy of your credit report every three months from a Credit Rating Bureau (CRB). The CRB must provide the report within 10 days of your request.

The three main Credit Rating Bureaus in Australia are:

About our Green Car Loan

What does 'green' mean to Great Southern Bank?

In line with Great Southern Bank’s 2022-24 Climate Action Plan, and our goal of achieving net zero emissions by 2040, we have developed a range of green loan products to support our customers who share our values and want to contribute to a better future, while continuing to meet their financial needs.

To be considered green, products financed through our green loans must be:

  • Hybrid and electric vehicles (via a car dealer and private seller)
  • Home charging stations (for electric and hybrid motor vehicle charging) - only when purchasing a hybrid or electric vehicle
  • Solar panels
  • Battery packs
  • Hot water heat pump
  • Solar hot water system
What is a low or no-emission vehicle?

A low or no emission vehicle is a hybrid or electric vehicle listed on the Green Vehicle Guide.

When we talk about low or no emissions, we are specifically referring to emissions produced while using your electric car. This doesn’t include emissions produced during other processes, such as manufacturing the vehicle.

How do I prove that my vehicle is eligible?

As part of the application process, we will ask you to provide reasonable evidence to show that the loan will be used to purchase or refinance an eligible green vehicle. The documentation can vary depending on where and how you purchase it too. We'll help you with this step and supply the relevant information during the approval process.

Where can I find a charging station?

The Electric Vehicle Council provides a map of charging stations across Australia. You may find this useful for finding charging stations in your local area and when planning longer journeys.

Are there government incentives for buying an electric vehicle?

Each state and territory in Australia offers an incentive for purchasing an electric vehicle. These incentives can include rebates, charging subsidies and discounts on registration and stamp duty. To find out if you're eligible, check with your relevant state government department or get started with the helpful links below.

It’s important to note that the rebate application status can change from time to time depending on where you live.

Refinancing your car loan

Can I refinance my car loan?

Yes, you can refinance a secured, unsecured or green car loan. You can apply to refinance your car loan online, in person or by calling us on 133 282.

If you want more information about refinancing your car loan, you can read our article or head to our car loan refinancing page.

Am I eligible to refinance my car loan?

To refinance your car loan, you must:

  • Be at least 18 years old.
  • Be a permanent resident of Australia.
  • Earn a regular income.
  • Have not been bankrupt or insolvent in the last five years.
What are the benefits of refinancing my car loan?

Refinancing can come with a few benefits for you and your wallet:

  • You can get a lower interest rate on your car loan.
  • You can change your term length to help you pay off your loan faster.
  • You might have access to clever features on your new loan, such as unlimited additional repayments and free redraw.
How much does it cost to refinance my car loan?

There are some one-off costs you’ll have to pay when refinancing your car loan. Knowing what they are in advance can help you be prepared when they come up.

Some of these costs include:

  • Early termination fee
  • Transaction fee
  • Late payment fee
  • Loan registration fee

Car insurance

Do I need car insurance?

Having insurance can cover you for damage done to your car and other people’s cars and property.

We have two insurance types you can choose from – Comprehensive Car Insurance or Third Party Property Damage Insurance. Check out our car insurance options to see how they compare.

Why choose car insurance through Great Southern Bank?

Great Southern Bank’s car insurance has a range of features and benefits designed to suit customers with different needs. We can give you the flexibility to manage your car insurance in a way that works for you with:

  • 24/7 online claim lodgement service
  • Monthly and annual payment options
  • The choice between Comprehensive or Third Party Property Damage cover

If you take out a secured car loan, you need to have evidence that your car will be covered by insurance before we release the funds to the dealer.

How much does car insurance cost with Great Southern Bank?

Your insurance premium cost depends on various factors, which may include:

  • The type of car
  • The address of where you live and park your car
  • How often your use your car and if you use it for work or personal reasons
  • Your age and the age of other people likely to drive your car
  • Your claims history.

The best way to check the cost of your premium is to get a quote online.

Can I customise my car insurance policy with additional coverage options?

Yes, you can choose to tailor your comprehensive cover with rental car, tools of trade, and windscreen cover options. To find out more, simply give us a call on 133 282 or get a quote online.

How do I lodge a car insurance claim with Great Southern Bank?

You can make a claim either online or by calling our insurance partner Allianz on 1300 555 030.


Why choose Great Southern Bank?

For one thing, we're customer-owned. That means no shareholders, so all our profits go into creating new and clever ways to help you manage your money.

It also means we're able to focus squarely on our mission to empower ordinary Australians to reach their financial goals, whatever they may be.

We believe being owned by the people you help is a more transparent way of doing things and how all banks should work.

2023 CANSTAR award for Outstanding Value - Excellent Credit Personal Loans
“Competitive interest rate when factoring the redraw facilities and the loan initiation fee. Excellent flexibility in relation to additional payments, early payout and redraw. ”
“Everything progressed so smoothly, even when the car yard had delays, it was no problem at all. It made a very stressful time for me much easier.”
“Excellent customer service, easy process, online system easy to navigate.”

Explore more car loans

Used Car Loans

Get on the road fast with a loan for a used car.

Refinance my car loan

A clever way to get a better deal.

Green Car Loan

Get a great personalised rate for an electric or hybird vehicle.

Get in touch
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Important Information

Loans are issued by Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL and Australian Credit Licence 238317. Lending criteria, limits, conditions and fees apply.

Rates current as at 9 June 2024 and subject to change.

Your loan contract will state the minimum monthly repayment amount. You can arrange with us to make repayments on a weekly or fortnightly basis.

Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959 AFSL 238317 arranges car insurance as agent for the insurer Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL No 234708 (Allianz). Great Southern Bank does not guarantee or otherwise support this insurance product. Great Southern Bank does not provide any advice based on any consideration of your objectives, financial situation or needs. Terms, conditions, limits, exclusions and underwriting criteria apply. Before making a decision, please consider the Product Disclosure Statement. The relevant Target Market Determination is available here for Comprehensive cover and Third Party Property Damage cover. If you purchase this insurance, Great Southern Bank will receive a commission that is a percentage of the premium. Full details of the commission are set out in the Financial Services Guide. Ask us for more details before we provide you with services.

1. Comparison rate examples are accurate for a personal loan amount of $30,000 secured loan over a term of 5 years. WARNING: 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.

2. Comparison rate examples are accurate for a personal loan amount of $30,000 unsecured loan over a term of 5 years. WARNING: 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.

3. A $200 minimum withdrawal amount applies for redraws conducted in-branch. Redraw facility is available for Great Southern Bank Personal Loan products on offer from 6 June 2017.

The Outstanding Value – Excellent Credit Personal Loans Award considers only borrowers with an excellent credit profile (See Canstar’s Personal Loans Awards methodology at for more information).

*The rate you are offered is calculated based on your personal circumstances and credit history. A few different factors are considered, including:

  • Your credit score.
  • Information provided in your application.
  • Existing loans.
  • The loan amount and your perceived ability to repay the loan.

Your personalised rate won’t be confirmed until you receive an offer from us (if approved) and is subject change before your loan settles.