Finty
BankVic

BankVic Car Loan Fixed 1-5 Years

SecuredFixed rate

Get on the road sooner with a lower rate by using your car as security.

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
9.12%
Establishment fee
Not published
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$20,000 over 3 years

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What it would cost

At the lowest published rate of 8.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$636
Total repayments
$22,892
Interest
$2,892

Loan details

Rates

Interest rate (a year)
8.99%
Comparison rate (a year)
9.12%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
Not published
Loan term
Up to 5 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

9.12%

From 9.12%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$4,904

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

Longest term

5 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.99%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.

Cons

  • 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.