Finty
Bank of Queensland

Bank of Queensland Dealer Finance Consumer Loan

SecuredFixed rate

This product is offered by BOQ Finance, a leader in mid-market finance, that understands the diverse needs of asset-intensive sectors. The Dealer Finance Consumer Loan supports retail consumers acquiring motor vehicle and leisure assets (i.e., motorcycles, marine, caravans and cars).

Written byDavid Boyd

1.00%

interest rate a year, from

1.00%

comparison rate, from

Establishment fee
Not published
Monthly fee
Not published
Borrow
$1,500 to $200,000

What it would cost

At the lowest published rate of 1.00%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$564
Total repayments
$20,310
Interest and monthly fees
$310

Loan details

Rates

Interest rate (a year)
1.00%–5.99%
Comparison rate (a year)
1.00%–7.26%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$1,500 to $200,000
Loan term
2 years to 7 years
Establishment fee
Not published
Monthly fee
Not published

How it compares

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

Comparison rate

1.00%

From 1.00%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$512

Interest and fees at its starting rate. Typical is $4,663.

Most you can borrow

$200,000

Typically you can borrow up to $130,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A lower starting rate. Its comparison rate starts at 1.00%, below the typical 7.99%, and the comparison rate counts the standard fees too, so it's a fair guide to a lower overall cost.
  • 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.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 1.00% to 5.99%, and only some people get the starting rate.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

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