Heritage Bank Car Loans

Heritage Bank Customer Owned Institution

Heritage Bank provides car loans as well as personal loans, home loans, credit cards, insurance, and everyday banking.

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The table below displays a snapshot of Heritage Bank’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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What car loan(s) does Heritage Bank offer?

At the time of writing, Heritage Bank offers a secured car loan for cars and other vehicles. This loan offers the following features:

  • Fixed interest rate
  • Fixed repayment amounts
  • Available for purchasing or refinancing any new or used vehicle up to 5 years old
  • 100% finance available – no deposit required
  • Loan term of between 1 and 7 years
  • Flexibility to choose weekly, fortnightly or monthly payments

Is your car eligible for a secured loan with Heritage Bank?

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

  • For personal use
  • Less than five years old
  • A new or used vehicle

If you want to finance a car that’s more than five years old, Heritage recommends a Standard Personal Loan. Check the PDS (product disclosure statement) for Heritage Bank’s car loan criteria.

Does Heritage Bank also offer personal loans?

Yes, Heritage Bank does offer both secured and unsecured personal loans as well as its car loan product. The table below displays a snapshot of Heritage Bank’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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Heritage Bank FAQs

The minimum loan amount for a Heritage Bank car loan is $5000, and the maximum is $100,000.

Heritage Bank offers car loan terms of between 1 and 7 years.

There are two fees to be aware of when taking out a car loan with Heritage Bank:

  • A once-off $200 loan application fee
  • A monthly $5 loan maintenance fee

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 Heritage Bank’s fees are more or less what the average customer is paying.

Applying for a Heritage Bank personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with Heritage Bank (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 Heritage Bank if you’re an existing member.

Heritage Bank was founded in 1975 as the Toowoomba Permanent Building Society, and today claims to be Australia’s largest mutual bank. The bank merged into its current form in 1981 and is still headquartered in the first ever high-rise office to be built in Toowoomba’s CBD. Heritage manages more than $8.5 billion in consolidated assets, and is an active part of the community in South-East Queensland. Heritage sponsors events such as the QPAC Green Jam and Gold Coast Running Festival, as well as hosting an annual Charity Golf Day in Toowoomba which has raised more than $730,000 for local organisations since 1998.

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Heritage Bank Car Loan

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Award: 3-Star Rated Car Loan

Heritage Bank Car Loan

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Written by: Sam Bloom | Last updated: April 27, 2018