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Compare personal loans

Secured Fixed Car Loan
Loans from $5,0003 to $100,000
Interest rate from
Comparison rate from1
Used for
Vehicles up to 7 years old
Unsecured Fixed Personal Loan
Loans from $5,0003 to $75,000
Interest rate from
Comparison rate from2
Used for
Green Car Loan
Loans from $5,0003 to $100,000
Interest rate from
Comparison rate from1
Used for
Green cars up to 7 years old
Want to calculate your repayments?

Buying a car with a Personal Loan

Whether you’re after a new or used vehicle, a personal loan from Great Southern Bank can set the wheels in motion. Get car finance for your first car, refinance your existing car, or go all in on your dream vehicle by applying online today.

Secured Fixed Car Loans are available for new and used vehicles up to 7 years old from $5,0003 to $100,000.
Features & benefits
$0 Monthly fees
Enjoy having a little extra money in your pocket.
Unlimited extra repayments
Pay your loan off sooner with fee-free extra repayments. You’ll love the freedom to make one-off repayments whenever you like with no penalty!
Flexible repayment options
Choose to make either monthly, fortnightly or weekly repayments to suit your income and budget.
No penalties for early payout
Pay off your loan sooner without being charged a fee.
Easy access to funds with redraw
Enjoy access to your additional repayments with redraw, so you can use it whenever unexpected costs arise.4

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.

Car loans FAQs

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

A secured loan is 'secured' against the asset you are borrowing for such as a car, or home. If you are unable to repay the loan, the lender can sell the asset to cover the costs of the loan. Most secured personal loans have a lower interest rate when compared to an unsecured personal loan because there is an asset attached.

An unsecured personal loan is a loan that does not require an asset as security. Your income and ability to repay the loan is still assessed, however you don't need an asset to secure the loan.

If you’re buying a car or motorbike under seven years old, a Great Southern Bank Secured Fixed Car Loan may be right for you.

For vehicles older than seven years, Unsecured Fixed Personal Loans are available.

How does car finance work?

The term “car finance” describes the different ways you can borrow money to buy a car. You may also know this as a car loan.

If you want to buy a car, but don’t have the money to pay the ticket price upfront, car finance allows you to borrow the amount you need. Then pay it off in smaller flexible repayments.

It’s important to note that car loans attract interest on top of your regular repayments. This is essentially the cost of taking out the loan. The interest rate will vary between lenders, so it pays to compare.

When you apply for a car loan your income and expenses will be assessed to ensure you can pay off the loan. Then you’ll receive the funds in your bank account to buy your new set of wheels – it’s that simple!

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 also apply for pre-approval while you’re looking for your perfect vehicle.

What is a balloon payment?

A balloon payment is a final lump-sum that’s paid at the end of your loan. It’s a percentage of the car’s purchase price and is paid in addition to your regular repayments and fees.

A balloon payment may lower your monthly repayment amount, but it’s important to note that balloon payments accumulate interest. You’ll also have to set some money aside to make the balloon payment. Don’t forget to calculate the full cost to avoid paying more in the long term.

Our car loans have no balloon payment; but we still recommend comparing car loans to find the one that’s right for you. Got a question? Drop us a message on Live Chat, we’re here to help.

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.

Don't forget the starting rate for our Secured Green Car Loan is lower than our traditional Secured Car Loan, so if you have a good credit history you could be rewarded with a low competitive rate.

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 applications you’ve made for credit or a loan (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?

Simply request a free copy of your credit score from Equifax (previously known as Veda).

Checking your credit score can also help you estimate what your personalised rate will be before you apply.

What is a Green Car Loan?

Our Green Car Loans are available to customers buying an electric or hybrid vehicle up to seven years old. They offer a lower interest rate, for lowering your emissions. Plus, you’ll also receive $0 monthly fees, unlimited extra repayments and no penalties for paying off your loan early.

Learn more about Green Car Loans.


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.”
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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 29 November 2023 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.

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. $3,000 minimum loan amount in branch, $5,000 minimum loan amount online. Available loan term is 1 to 7 years.

4. 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.