ANZ Car Loans

ANZ provides car loans as well as bank accounts, credit cards, home loans, personal loans, insurance, and superannuation.

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The table below displays a snapshot of ANZ’s car loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a five-year loan in NSW.

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Please note: According to its website, ANZ has suspended the sale of its secured car loan while it ‘undertakes a strategic review of how it offers consumer asset finance’. ANZ expects to announce a final decision by 30 September 2018.

All information below was correct at the time of writing, but may change after this date.

ANZ has secured and unsecured car loan for cars and other vehicles. ANZ also has a variable rate car loan with a higher interest rate.

Is your car eligible for a secured loan with ANZ?

To be eligible for a secured car loan with ANZ, your application will be subject to its normal lending criteria. Generally, your chosen vehicle might need to be:

  • For personal use
  • A new, used, or demo car

Check the PDS (product disclosure statement) for ANZ ’s car loan criteria.

Does ANZ also offer personal loans?

Yes, ANZ does offer unsecured personal loans as well as its secured car loan product. The table below displays a snapshot of ANZ’s personal loan products on Canstar’s database, sorted by Star Rating (highest to lowest). Please note the products and Star Ratings displayed are based on a loan amount of $20,000 for a three-year loan in NSW.

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In order to take out a secured car loan with ANZ, you must be looking to borrow $7,500 or more.

A secured car loan from ANZ has a minimum term of one year and a maximum term of five years.

There are a number of fees to be aware of when taking out a car loan with ANZ:

  • A once-off $350 establishment fee when you first take out the loan
  • A monthly $5 loan administration charge (pro-rated for fortnightly payments)

See this article for look at the average fees currently charged by car loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017), to see if ANZ’s fees are more or less what the average customer is paying.

Applying for an ANZ personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with ANZ (or most providers in Australia for that matter), you generally need to meet the following criteria:

  • The car or motorcycle must be for personal use
  • You must be 18 or over
  • You must be a permanent Australian resident or valid work visa holder
  • Currently employed with a stable income
  • Have a solid credit rating and not be bankrupt

In addition, you may also have to meet the minimum loan amounts specified by the provider (see above). If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

  • A current driver’s license
  • Details of your current and previous (if applicable) employer
  • Details of your income, assets, expenses and liabilities
  • Previous tax returns if you are self-employed

You may also require your current account number for ANZ if you’re an existing member.

ANZ has a long history, founded in 1835 in London and Sydney as the Bank of Australasia and moving into Melbourne in 1838. As one of the Big 4 Banks in Australia, ANZ is the largest banking group in the Pacific and New Zealand region, and is ranked among the top 50 banks in the world.

ANZ supports the Australian community through initiatives such as the GIVE program, which stands for ANZ’s activities in Giving, Investing, Volunteering, and Emergency Relief, and funding worthy causes through three types of community grants. ANZ also supports the environment by reducing greenhouse gas emissions, using more than 80% renewable energy, sustainable sourcing, and recycling waste (Sustainability highlights, 2015).

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Written by: James Hurwood | Last updated: April 19, 2018