SWSbank 7 Year Variable Interest Vehicle Loan

SecuredVariable rate

7 Year Variable Interest Vehicle Loan with no penalty for extra payments

6.00%

interest rate a year, from

6.00%

comparison rate, from

What it would cost

At the lowest published rate of 6.00%. 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

6.00%

From 6.00%. A typical loan starts at 7.99%.

Cost of $20,000 over 5 years

$3,199

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.

A lower starting rate. Its comparison rate starts at 6.00%, 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.
One rate for everyone. Everyone approved gets 6.00%, 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.
Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
Redraw. You can take back extra repayments later if you need the money.

A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

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