Finty

AMB Bank Car Loan

SecuredFixed rate

Tailored rates available for cars, motorbikes, caravans and boats that are less than 5 years old.

Written byDavid Boyd
Interest rate a year, from
6.35%
Comparison rate, from
7.27%
Establishment fee
Not published
Monthly fee
$10
Borrow
$4,000 to $200,000

Monthly repayment

$20,000 over 7 months

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What it would cost

At the lowest published rate of 6.35%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$2,928
Total repayments
$20,496
Interest and monthly fees
$496

Loan details

Rates

Interest rate (a year)
6.35%
Comparison rate (a year)
7.27%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$4,000 to $200,000
Loan term
Up to 7 months
Establishment fee
Not published
Monthly fee
$10

How it compares

Against the other secured car loans we compare. Typical means the middle half of them.

Comparison rate

7.27%

From 7.27%. A typical loan starts at 7.99%.

Monthly fee

$10

A typical monthly fee is $8.

Most you can borrow

$200,000

Typically you can borrow up to $130,000.

Longest term

7 months

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 6.35%, so the rate you see is the rate you get.
  • Room to borrow more. Up to $200,000, more than the typical $130,000, which can cover bigger costs in one loan.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A $10 monthly fee. That adds $600 over 5 years, as well as the interest.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • A $20 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Secured loans from other lenders that start at a similar comparison rate.