ANZ Car Loan

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

Written by 
Thomas Perrotta
Thomas Perrotta is the managing editor of Savvy. Throughout his time at the company, Thomas has specialised in personal finance, namely car, personal and small loans, although he has also written on topics ranging from mortgages to business loans to banking and more. Thomas graduated from the University of Adelaide with a Bachelor of Media, majoring in journalism, and has previously had his work published in The Advertiser.
Our authors
, updated on April 10th, 2024       

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 secured car loan product. This page is reflective of its unsecured personal loan product, for which Savvy does not represent ANZ. All information in this article is correct as of 10 April 2024.

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 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; as long as you can show you’re able to repay your loan, you can choose any type of car you like to finance.

Pay on a schedule which suits you

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

Choose a fixed or variable interest rate

Unlike some 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 via a redraw facility, giving you potential access to funds without having to apply for another loan.

Rapid approvals and funding

ANZ offers same-day cash to those who apply for a loan and receive approval in-branch before 12:00pm on any weekday (unavailable on weekends).

The pros and cons of buying a car with ANZ


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.

Redraw flexibility

ANZ also offers the flexibility to access your funds should you need them, even if they've already been paid towards your loan debt, allowing you to plug financial gaps if necessary.

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.

Monthly fees

You'll be required to pay a loan administration charge as part of your agreement, with this adding an extra $10 to your repayments each month.

$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 personal 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 terms of the car loan vs. personal loan debate, car loans come out on top in a variety of key areas. They generally have lower interest rates and, in some 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.

Unsecured car loans may be useful if the vehicle you're looking to buy doesn't meet your lender's eligibility criteria, such as being too old or not being in good condition. You can speak to your Savvy consultant about whether a secured or unsecured car loan is best for you.

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. This can help you secure a better interest rate.

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

Defence Bank Car Loan

Learn about the finer details of Defence Bank car loans right here with Savvy today. Defence Bank (formerly Defence Force Credit Union) is an Australian financial institution which offers loan...

RAA Car Loans Logo

RAA Car Loan

Find out all there is to know about RAA finance and car loans with Savvy to help you pick the right product to buy your car. RAA is one of...

CommBank logo

Commonwealth Bank Car Loan

Learn all about your secured car loan options with CommBank and compare offers from other lenders all in one place with Savvy. Commonwealth Bank (otherwise known as CommBank or CBA)...

Great Southern Bank logo

Great Southern Bank Car Loan

Consider your car finance options, including that of Great Southern Bank, right here with Savvy before you apply for your loan. Great Southern Bank, formerly known as Credit Union Australia...

Bankwest Logo

Bankwest Car Loan

Is a Bankwest secured car loan right for you? Read about its key features before you commence the car finance application process with Savvy. Bankwest is a financial institution based...

Hsbc logo

HSBC Car Loan

Wondering whether HSBC’s car loan offer is right for you? Find out all the key information and compare car finance deals with Savvy today. As one of the largest multinational...

Easily compare car loan quotes today

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

We'd love to chat, how can we help?

By clicking "Submit", you agree to be contacted by a Savvy Agency Owner and to receive communications from Savvy which you can unsubscribe from at any time. Read our Privacy Policy.