ANZ Car Loan

Consider your car finance options with Savvy and find the ideal loan for you by applying with us today.

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on June 19th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

As one of the Big Four banks in Australia, ANZ offers no shortage of financial products across a wide range of areas, from home loans to insurance to credit cards and banking.

They can also help you purchase the car you’ve been looking for, but it’s always crucial to know the finance product you’re applying for inside-out before you kick-start the application process.

Fortunately, you can do that right here with Savvy, as we break down car loan offers available on the market to help you make a more educated choice on which is the best for your needs, as well as guide you through the application process when you apply with us.

*Please note that ANZ does not currently offer a designated car loan product. This page is reflective of their personal loan product, which Savvy does not represent ANZ for.

The features and benefits of ANZ car finance

Repay over one to seven years

You can decide whether to take as long as seven years to repay your car loan or get it over with quickly in as little as 12 months, so you’re afforded the freedom to tailor it to your needs.

Buy new or used of any age

It doesn’t matter the make, model or age of your vehicle: if you can show you’re able to repay your loan, you can choose any type of car you like to buy with finance.

Pay on a schedule which suits you

In addition to setting your own repayment term, you can also set the schedule on which you may your repayments, either weekly, fortnightly or monthly to align with your own income situation.

Choose a fixed or variable interest rate

Unlike many car loan offers, you can select between fixed or variable interest rates, giving you options between stability or flexibility in your repayments and ANZ car loan interest rates.

Redraw facility available

You can also access any money you pay above the minimum required amount down the track via your redraw facility, giving you potential access to funds without having to apply for another loan.

Cashback offers available

ANZ also offers a $500 cashback for their personal loans at $10,000 or more, enabling you to receive a handy sum in return during your loan term for use however you like.

The pros and cons of ANZ personal car loans


No early repayment penalties

You’re free to pay more than the minimum required amount on your variable rate ANZ car finance deal, giving you the ability to cut down on the interest and fees paid across your loan term.

Ability to increase your loan size

ANZ also enables you to increase the size of your loan during your repayment term, subject to approval, allowing borrowers to incorporate further expenses into their loan should they need to.

Faster approval time

Because these loans are unsecured, you can be approved more quickly than you would be with another car loan, with financing available on the same day you apply in some cases.


No ANZ secured car loan offered

ANZ doesn’t offer a secured car loan, solely restricting you to an unsecured loan which may not be the best deal for your individual needs.

Higher interest rates

Your ANZ car loan interest rate will be higher than most other car loans, with a starting rate of 8.99% p.a. fixed (9.88% p.a. comparison), potentially costing you thousands more overall.

$50,000 borrowing cap

Because of the nature of the loan, you’ll only be able to borrow up to a maximum of $50,000, which is lower than the 100% finance you can access with most car loan products.

ANZ car loans explained

What is the application process for an ANZ personal car loan?

The application process for an ANZ personal loan is very fast and simple, with applications open either online, over the phone or in your local branch. Nevertheless, it’s still important to understand how this process works to give you the best chance of being approved for the loan you’re looking for. This easy process is as follows:

Gather the documents you’ll need

As part of your application, you’ll need to provide evidence of the following:

  • Your identity (via your driver’s licence)
  • Your income (via payslips and/or bank statements)
  • Your regular expenses
  • Your assets and liabilities
  • Your ANZ Account Number or Customer Registration Number (if you’re an existing customer)

Submit your application

From there, you can fill out ANZ’s loan application form (which won’t take you too long to do) and submit it alongside your documents. This will outline factors such as your income and how you earn it, what you want to take out your loan for and more.

Supply any additional documentation

Once this has been submitted, ANZ will consider your application. They may request more documentation to verify any details that they’re not 100% sure about.

Receive approval and sign your loan contract

If ANZ is happy with your application, they’ll inform you of your loan approval and send you the loan contract confirming the details of your agreement. Once you’ve signed and returned this, you can have your loan funds advanced directly into your account.

It’s important to note that Savvy is partnered with over 25 car loan financiers from around Australia and can help you find the best one for your needs when you apply with us. Our expert consultants do the heavy lifting for you and compare loans to find the ideal offer for your profile.

Am I eligible to take out a loan with ANZ?

It’s important to review a loan’s eligibility criteria before you apply, as there’s little point spending your time on an application which you can’t be approved for and may show up on your credit file as a rejection. ANZ’s loan eligibility criteria are as follows:

  • You must be at least 18 years old
  • You must be earning a minimum of $15,000 p.a. from stable sources
  • You must be an Australian citizen, permanent resident or valid visa holder
  • If applying online, you must be a sole applicant (joint applications are processed in-branch)

Which fees can apply to my ANZ car loan?

There are several fees which may be charged as part of your ANZ car finance deal. These can include:

  • Loan approval fee: $150
  • Loan administration charge: $10 per month
  • Early repayment charge: $300 if you repay a fixed rate personal loan early
  • Late payment fee: $20 for instalments which are five or more days late, with an extra $20 charged each month until no late payments are outstanding

Frequently asked questions about ANZ car loans

Is it better to buy a car with a secured loan?

In almost all cases, yes – in terms of the car loan vs. personal loan debate, car loans come out on top in a variety of key areas. Car loans come with lower interest rates and, in most cases, lower fees. They also come with greater borrowing ranges, typically avoiding implementing hard maximum available amounts and instead assessing borrowers on a case-by-case basis and determining whether they can afford the repayments of the loan they’re after. You can access great deals when you compare and apply with Savvy.

Am I able to sell a car under finance?

Yes – as long as you can pay your loan out early, you can sell your vehicle under finance. However, as mentioned, there may be fees charged for you to do so (if you take out an ANZ fixed rate personal loan). If not, though, you can simply use the funds obtained from the sale of the car to pay off the remainder of your loan.

If I’m buying a new car with ANZ, what should I consider first?

Some of the key points to consider when buying a new car are:

  • Additional costs: stamp duty, rego, insurance, maintenance and other on-road costs
  • Consider what you need it for: is the car largely for driving the kids to and from school or heavy-duty outback adventures?
  • Buy within your means: don’t purchase a vehicle you’re not sure you’re capable of supporting the repayments of
  • Take it for a test-drive: you should always look at taking a demo model for a test drive before you buy to ensure you’re comfortable driving
Can I apply for my car loan with a guarantor?

Yes – guarantors on car loans are less common than they are on home loans, but they can still help you get approved for finance if you may not otherwise be able to be approved. They’re there to provide an added layer of security to your loan and cover you in the event you become unable to make your repayments, at which stage they’d take on your loan.

Does ANZ offer any business car finance products?

Yes – ANZ does offer car loans for business and equipment finance to those running their own company. You may find that one of these options is best for you, particularly if you intend to use your car for business purposes.

More car loan lenders

Westpac Logo

Westpac Car Loans

Find everything you need to know about Westpac car loans with Savvy and see whether they’re right for you. Finding the right car loan is an important part of purchasing...

logo money3

Money3 Car Loan

Read about the ins and outs of Money3’s car finance deals and see whether they’re right for you by comparing your options with Savvy. As a specialist non-bank lender, Money3...

IMB Car Loan

IMB Bank Car Loan Find out all you need to know about IMB’s latest car loan offer with Savvy right here. IMB Bank stands as one of the biggest building...

Bank First Logo

Bank First Car Loans

Wanting to find out more about Bank First car loans? Learn all there is to know about them right here with Savvy. Bank First is a Victorian-based mutual bank which...

People’s Choice Credit Union Car Loans

Thinking about a People’s Choice car loan? Read about what they have to offer right here with Savvy. As one of Australia’s leading credit unions, People’s Choice offers a wide...

Greater Bank Logo

Greater Bank Car Loan

Looking at a Greater Bank car loan? Read about its key features before you apply right here with Savvy. Greater Bank, formerly known as Greater Building Society, is an Australian...

Easily compare car loan quotes today

Our car loans take your money further. See how you can compare and save with us.