Used Car Loans

Used Car Loans

With one of Australia’s lowest car loan interest rates and no ongoing fees, Defence Bank will have you on the open road in no time.

Available for cars up to five years old, a used car loan with Defence Bank helps reduce the stress of buying. Unlike many other used car loans, there are no ongoing periodic fees and no early repayment fee. You never know – it might mean the difference between a standard model and sports model. Or, with the low rate, you can pay off your loan sooner and reap the rewards in interest saved.

Defence Bank’s flexible repayments and fast, easy loan process will put you behind the wheel – pronto.

Use the Car Loan Repayment Calculator here.

Interest Rates

Effective 14 May 2012

Car Loans


Personal Loans


Home Loans


Variable Interest Rates for New Car Loan (including Motorcycle Loans):

Rates for New Car Loan - with minimum 20% deposit

Annual Rate %
Comparison Rate %
8.90% pa*
9.14% pa**

Rates for New Car Loan - with minimum 10% deposit

Annual Rate %
Comparison Rate %
9.49% pa^
9.73% pa**

Rates for New Car Loan - with less than 10% deposit

Annual Rate %
Comparison Rate %
9.90% pa
10.14% pa**

What is a comparison rate?

* Where 80% or less of vehicle purchase price plus on road costs and where applicable, comprehensive insurance is financed.
^ Where 90% or less of vehicle purchase price plus on road costs and where applicable, comprehensive insurance is financed.
** Comparison rate is based on a $30,000 secured loan over a 5 year term. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to New Car Loan

Variable Interest Rates for Used Car Loan (including Used Motorcycle Loans):

Rates for Used Car Loan - with minimum 10% deposit

Annual Rate %
Comparison Rate %
Used cars
less than 3 years old
10.95% pa^
11.20% pa*
Used cars
3 to 5 years old
11.49% pa^
11.74% pa*

Rates for Used Car Loan - with less than 10% deposit

Annual Rate %
Comparison Rate %
Used cars
1 to 5 years old
11.49% pa
11.74% pa*

What is a comparison rate?

^ Where 90% or less of vehicle purchase price plus on road costs and where applicable, comprehensive insurance is financed.
* Comparison rate is based on a $30,000 secured loan over a 5 year term. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Used Car Loan

Variable Interest Rates for Personal Loans:

Rates for Personal Loan - (security may be required):

Annual Rate %
Comparison Rate %
12.99% pa
13.21% pa*

What is a comparison rate?

* Comparison rate is based on a $30,000 unsecured loan over a 5 year term. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Personal Loan

Rates for Consolidation Loan - (security may be required):

Annual Rate %
Comparison Rate %
13.99% pa
14.21% pa*

What is a comparison rate?

* Comparison rate is based on a $30,000 unsecured loan over a 5 year term. Fees and charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Consolidation Loan

Rates for DHOAS Saver Home Loan

Annual Rate %
Comparison Rate %
6.25% pa (variable)
6.31% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Rates for DHOAS Saver Fixed Home Loan

Annual Rate %
Comparison Rate %
2 Years Fixed
6.49% pa (fixed)
6.36% pa*
3 Years Fixed
6.49% pa (fixed)
6.38% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to DHOAS Saver Home Loan

Rates for DHOAS Advantage Variable Home Loan

Annual Rate %
Comparison Rate %
6.64% pa (variable)
6.72% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

DHOAS Advantage Fixed Home Loan rates:

Annual Rate %
Comparison Rate %
2 Years Fixed
6.49% pa (fixed)
6.69% pa*
3 Years Fixed
6.49% pa (fixed)
6.68% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to DHOAS Advantage Home Loan

Rates for DHOAS Construction Advantage Home Loan:

Annual Rate %
Comparison Rate %
6.64% pa (variable)
6.77% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to DHOAS Construction Advantage Home Loan

Rates for True Value Home Loan:

Annual Rate %
Comparison Rate %
6.54% pa (variable)
6.62% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to True Value Home Loan

Rates for Flexi Choice Home Loan:

Annual Rate %
Comparison Rate %
6.74% pa (variable)
6.77% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Rates for Flexi Choice Fixed Home Loan:

Annual Rate %
Comparison Rate %
2 Years Fixed
6.49% pa (fixed)
6.72% pa*
3 Years Fixed
6.49% pa (fixed)
6.70% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Flexi Choice Home Loan

Rates for Smart Mover Home Loan

Annual Rate %
6.84% pa (variable)*

What is a comparison rate?

* Fees and Charges are payable. Terms and Conditions available on request.

Go to Smart Mover Home Loan

Rates for Interest Only Construction Loan:

Annual Rate %
Comparison Rate %
6.64% pa (variable)
6.77% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Interest Only Construction Home Loan

Rates for Basic Variable Home Loan:

Annual Rate %
Comparison Rate %
6.74% pa (variable)
6.82% pa*

What is a comparison rate?

* Comparison rates based on a $150,000 secured loan over 25 years. Fees and Charges are payable. Terms and Conditions available on request.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Go to Basic Variable Home Loan

Rates for Overdraft:

Annual Rate %
15.35% pa^ (variable)

^ Available to approved applicants at 15.35%p.a. (variable). A different variable rate may apply to applicants who do not qualify for the base rate. Fees and Charges are payable. Terms and Conditions available on request.

Go to Overdraft

Rates for Low Rate True Blue Credit Card

6 Month Start Rate
(available to new customers only)
Ongoing Rate
(variable)
3.99% pa
11.74% pa*

* Fees and Charges are payable. Terms and Conditions apply.

Go to Low Rate True Blue Credit Card

To view the fees for Used Car Loans, click here.

Guide to Buying a Used Car

When buying a motor vehicle, it can be tempting to jump straight into a purchase – especially if it’s your dream car – but taking the time out to look over the vehicle properly pays off in the long run.

We've put together some handy hints to steer you in the right direction:

Pitfalls to Avoid

  • Consider the future resale value of the car and the insurance costs.
  • Be very careful if you are purchasing a car privately. Make sure it is unencumbered by checking the vehicle security register in your State.
  • Get the car checked by a qualified mechanic or your State motoring association. Ask for a list of what is wrong with the car and an estimate of the cost to fix any repairs.
  • Get an estimate of the value of the type of car you are buying by visiting www.redbook.com.au
  • Take the car for a test drive and check all key areas, e.g. brakes and gauges, noticeable vibrations and so on.

Inspect the Car Closely

  • Compliance plate: Check the year and model.
  • Check the oil – not just the level, but also the appearance. If it's thick or contains water globules, beware; you could be up for more expenses in the near future.
  • Registration: If nearly expired, allow for the extra cost.
  • Rust: Check under mats, bottoms of doors and around the engine. If there is rust, cross the car off your list or make sure the price is low enough to cover repairs.
  • Tyres: Check the tyres against the minimum tread depth in your State. If the tread depth is close to the limit, ask for new tyres or make sure the asking price reflects this cost.
  • Paintwork: If irregular or blotchy, the car may have been in a crash and/or the paint may be covering rust. Ask about the repair and accident history of the car.

By following the above checklist, your motor vehicle purchase should be a positive one that will serve you well into the future.

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