The Finance Algorithm
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Car Loan

Purchase or refinance of a new or used vehicle up to 10 years old through a Dealer or Private Sale

Personal loansBank updated 4 June 2026
Product page ↗Fees and pricing ↗Terms ↗

At a glance

Fixed
6.49%6.84% comparison
Loan size
$20,000 to no maximum
Upfront fee
$250
Monthly fee
$0

How it compares

This personal loan in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This personal loan: 6.49%Every other institution's lowest, 41 in all

Lowest advertised rate, fixed or variable. One dot per institution, at its lowest car loan rate from a bank or lender anyone can apply for; hover or tap a dot for its name.

RateThis personal loanBest anywhereTypical institutionWhere it sits
Car loan from a bank or lenderLowest advertised rate, fixed or variable6.49%5.74%Westpac's Car Loan6.99%of 42 institutions12th lowest of 42, level with 3 others

Rates

The one rate Heritage publishes for this personal loan.

TypeApplies toTermBandRateComparisonConditions
FixedFixed term can range from 1 to 7 years. Interest rates are on a per annum basis. Rates and discounts are correct as stated and subject to change without notice. Car loan comparison rate calculated on…P&I1 yr fixed-6.49%6.84%-

Fees

20 fees published, grouped by when they're charged.

  1. When you take it out$250Application fee
  2. While you hold itNo feeMonthly Administration Fee
  3. When you close it or pay it offNo fee published

When you take it out1

  • Application fee
    $250

While you hold it1

  • Monthly Administration Fee
    No fee

When you make a transaction3

  • Direct Debit Dishonour fee

    If a direct debit authorised to be made from or to your account is dishonoured

    $10
  • Heritage Cheque Fee

    Heritage Cheque fee payable to Heritage if credit under this Credit Contract is provided by a cheque drawn by heritage on itself

    $10
  • Redraw Administration Fee

    If you apply to redraw Payments in Advance other than a request through Online Redraw

    $20

When particular things happen9

  • Capital reduction recalculation fee

    If you ask Heritage to capitalise payments in advance or payment or proposed payment under the credit contract

    $75
  • Change of term fee

    Payable if you to ask us to agree or offer to change the loan term.

    $75
  • Collateral Security Preparation fee
    $100
  • Default fee - if payment remains outstanding after its due date
    $30
  • Document/Record search fee

    Whenever Heritage provides a copy of a document relating to your loan at your request or at the request of a security provider

    $12
  • Enforcement fee

    Payable if we make good on a default under a security by performing a financial obligation (such as payment of an insurance premium or rates).

    $20
  • Renegotiation fee

    Payable each time you ask us to vary your credit contract or we offer a new credit contract to you.

    $250
  • Special Request Transaction Listing Fee

    Whenever a listing of transactions between two given dates is issued on your account

    $7.50
  • Telegraphic transfer fee

    Payable if money lent to you is telegraphically transferred within Australia.

    $30

Other fees6

  • Approval request fee

    Payable if you ask for our approval under the credit contract or a security in relation to a transaction or proposal.

    $0 to $0
  • Bank cheque fee

    Cost payable to any bank issuing a bank cheque for settlement on settlement of loan.

    $0 to $0
  • Paper Based Statement Fee

    Fee is charged for each paper statement issued as per your account statement cycle. Excludes eStatements which are free of charge.

    $3
  • PPSR Registration fee

    Fee is charged per PPSR registration

    $0 to $0
  • PPSR Search fee

    When Heritage carries out a PPSR search on a motor vehicle subject to a security. Fee is charged per PPSR search.

    $0 to $0
  • PPSR VIN validation fee

    Fee is charged per PPSR Vin validation

    $0 to $0

Features

RedrawDigital bankingHeritage Credits
  • No penalty for paying out early or making extra repayments
  • Electronic or paper statements available
  • SMS services
  • Purchase or refinance a new or used vehicle, up to 10 years old
  • Loan terms from 1 to 7 years
  • Flexible Repayment Options
  • Fixed repayments to make budgeting easy
  • Loan amounts from $20000
  • Repay in full at anytime
  • Car, Caravan or Motorbike eligible security

Eligibility and limits

  • Minimum age 18
  • Residency: Australian Permanent Residents and Citizens
  • Amount from $20,000, no maximum

Published by People First and Heritage Bank under the Consumer Data Right, last changed by them on 4 June 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.