Finty
NAB

NAB Car Loan

SecuredFixed rate

Buy a car with your NAB Car Loan. Apply in minutes with same-day pre-approval and funds within one business day of us agreeing the loan

Written byDavid Boyd
Interest rate a year, from
5.99%
Comparison rate, from
7.55%
Establishment fee
$350
Monthly fee
$15
Borrow
$10,000 to $100,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 5.99%, including the monthly fee. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$623
Total repayments
$22,441
Interest and monthly fees
$2,441

Loan details

Rates

Interest rate (a year)
5.99%–13.54%
Comparison rate (a year)
7.55%–15.03%
Rate type
Fixed
Security
Secured

Limits and fees

Loan amount
$10,000 to $100,000
Loan term
Up to 7 years
Establishment fee
$350
Monthly fee
$15

How it compares

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

Comparison rate

7.55%

From 7.55%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$4,444

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

Setup fee

$350

A typical setup fee is $258.

Monthly fee

$15

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.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.
  • A soft check on your rate. You can see the rate you'd get without it showing on your credit report.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 5.99% to 13.54%, and only some people get the starting rate.
  • A $15 monthly fee. That adds $900 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 $7 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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