Heritage Car Loan

SecuredFixed rate

Purchase or refinance of a new or used vehicle up to 10 years old through a Dealer or Private Sale

Monthly repayment

$20,000 over 3 years

What it would cost

At the lowest published rate of 6.49%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

BorrowOver

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

Comparison rate

6.84%

From 6.84%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$3,724

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

Setup fee

$250

A typical setup fee is $258.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$100,000

Typically you can borrow up to $130,000.

Longest term

7 years

7 years is the usual longest term.

A lower starting rate. Its comparison rate starts at 6.84%, 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.
One rate for everyone. Everyone approved gets 6.49%, so the rate you see is the rate you get.
No monthly fee. The cost doesn't creep up the longer you take to repay.
A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
Redraw. You can take back extra repayments later if you need the money.
No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
A $100 late payment fee. Setting up automatic repayments avoids it.

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