A hand holding a soapy sponge on the bonnet of a blue car

Car loan.

For vehicles less than five years old.

6 .90 % p.a. Annual rate.
7 .67 %* p.a. Comparison rate.
A hand holding a soapy sponge on the bonnet of a blue car

For vehicles less than five years old.

Choose your repayment frequency.

Quick approval process.

Apply online.

There’s nothing quite like the feeling of being given the keys to your new set of wheels. Our car loan is designed for vehicles less than five years old; straight-forward and simple to get you on the road faster.

Key features.

  • No fees for extra repayments or early payouts.
  • Quick approval process.
  • Choose a loan term from one to seven years.
  • Choose between weekly, fortnightly or monthly payments.
  • For new and used cars and motorcycles up to, and including, five years old.
  • Winner of WeMoney's 'Lender of the Year (Defence Services) - Car Loans' two years in a row - 2022 and 2023.
  • Winner of WeMoney's 2023 'Best for Flexibility - Car Loans' award.
  • Winner of WeMoney's 2022 'Best For Quality - Car Loans' and 'Outstanding Customer Service - Car Loans' awards.

2022-2023_Lender of the Year Car Loan.svg   

Car loan. Annual rate. Comparison rate.*
Car loan interest rate. 6.90% p.a. 7.67% p.a.
Loan application fee.^ $150
Registration fee (security). $6
Processing fee (security). $50
Personal loan service fee (monthly). $10
Loan variation fee. $50
Arrears reminder notice fee (per letter). $20
Default notice (enforcement notice). $20



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


Not payable on New Car Loan and Used Car Loan products.

Terms and conditions, fees and charges apply and are available upon request.

Approval subject to Defence Bank's lending criteria.

Rates apply to new applications received however are subject to change at anytime.

Defence Bank’s Target Market Determination can be viewed here.

All products except foreign currency and insurance are issued by Defence Bank. Defence Bank recommends you read the Defence Bank Products and Services - Conditions of Use for any product you choose to take. Any advice contained on this website is general advice only.

Next steps.

Not a member? Join Defence Bank now.
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Any questions? Speak to our experienced, helpful staff.
See how our loan fits into your budget.

Frequently asked questions.

You can buy a new or used car or motorcycle up to, and including, 5 years old with a car loan. If you would like to purchase an older car, contact us as you may do so with a personal loan

Call us on 1800 033 139 so that we can have a chat and help you to determine the best loan to meet your needs.

Motor vehicles up to and including five years old can be purchased using our used car loan. If you would like to purchase an older car, contact us as you may do so with a personal loan

The minimum loan amount across our personal and car loan range is $1,000.00.

Learn more about car loans.