Rating based on 4 reviews

Heritage Bank Car Loan

  • Car loans up to $76,000
  • Low-interest starting from 5.99%
  • Repayment up to 7 years

In-page navigation

Heritage Bank homepage
Author Heritage Bank. Screenshot of Heritage Bank website.
[Accessed July 5, 2023]

About Heritage Bank

Established in 1875 in Toowoomba, they’ve grown to become one of Australia's largest customer-owned banks.

Heritage Bank proudly boasts branches throughout Queensland and New South Wales with a national network of mortgage broker partners. They’re committed to delivering exceptional customer experiences.

They understand that supporting you in achieving your financial goals involves more than just competitive rates and great products. Their dedication to providing a positive banking experience is evident through their 24/7 contact centre and conveniently located branches, ensuring they are always there for you.

Exceptional financial services

In 2023, the exciting merger between Heritage Bank and People's Choice Credit Union took place, forming Australia's number one cooperative banking institution. While operating under the two brands of Heritage Bank and People's Choice during the integration process, they will eventually adopt a new brand that combines the aspirations of both institutions. This transition showcases their unwavering commitment to delivering exceptional financial services to their members.

This customer-owned bank is part of a business ideal that was first established in Australia more than a century and a half ago. Their mission is to improve your life, focusing on the welfare of their members rather than maximising profits.

The membership agreement puts their dedication to providing outstanding service and support in writing. By openly sharing financial results and involving members in decision-making through events like the Annual General Meeting, they ensure that every member has a voice in shaping the bank's future.

A commitment to making a positive impact

Heritage Bank goes beyond traditional banking services by actively contributing to the communities they serve. Through initiatives such as their various sponsorships, awards for the arts, community branches, and their very own charitable foundation, they make a positive impact in the lives of their members and the wider community. These efforts strengthen their connection with members and foster a sense of shared purpose.

With a rich history, a customer-centric approach, and a strong commitment to community support, Heritage Bank stands out as a trusted and reliable financial institution that prioritises people.

Whether you're seeking financial solutions or looking for a bank that cares about its community, they offer an exceptional banking experience that goes beyond the ordinary.

Heritage Bank Services

Looking to purchase or refinance a car, caravan, or motorbike? Heritage Bank's Car Loan has got you covered.

Heritage Bank's car loan is a versatile financing option for acquiring new or used vehicles, including cars, caravans, or motorbikes up to 7 years old. The loan offers fixed repayments, unlimited additional repayments, and no penalty for early payout.

Approved applicants can enjoy 100% finance, with loan amounts available based on eligibility. Loan terms range from 1 to 7 years, and borrowers have the flexibility to choose weekly, fortnightly, or monthly payment frequencies. Additionally, there are no application fees, monthly fees, or early payout fees, ensuring an affordable and transparent financing solution.

Get behind the wheel with a suitable car loan

Benefit from a fixed interest rate of 5.99% p.a. (6.63% comparison rate) and enjoy the convenience of fixed repayments that make budgeting a breeze. Plus, you have the freedom to make unlimited additional repayments and pay out your loan at any time with no penalty.

With secured car loans available from $5,000, your choice of terms ranging from 1 to 7 years, and the option to pay weekly, fortnightly, or monthly, Heritage Bank's car loan offers the ability and convenience to customise your repayments to suit your needs.

Award-winning finance for your new or used vehicle

Turn your automotive dreams into reality with a choice of several car loan options. This bank’s commitment to exceptional service and its competitive rates has earned them awards. Whether you're in the market for a brand-new car or want to refinance your current vehicle, they have a loan option which is tailored to meet your needs.

Not only does Heritage Bank offer flexibility but you can get a 100% loan for the vehicle of your choice. If you qualify for a loan you can choose the terms that suit your lifestyle and budget.

A bank that understands that every customer has unique needs, which is why they offer a wide range of services. These include home loans and business finance options. The same flexibility Heritage offers with their car loans, is employed with the other services.

This bank gives you the freedom to purchase the home you wish for, or expand your business and make repayments you’re comfortable with.

Affordable finance is a powerful tool when it comes to living the life you dream of, whether it is a new car, a family home or new equipment for your business. The customer-owned bank has a credit card for small business owners that is interest-free for 40 days.

Heritage Bank – Car loan

  • Loan Type Car loans
  • Interest Rate from 5.99%
  • Loan Amount up to $76,000
  • Repayment 1 year to 7 years

Benefits of Heritage Bank

  • Fixed repayment terms
  • Unlimited additional payments
  • 100% finance options

Car loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This car loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

Quick and easy application for flexible car finance with Heritage Bank

Applying for a car loan with Heritage Bank is a quick and straightforward process. You can kick-start your car ownership application on their website in just a few minutes. You have to provide your contact, employment, and income details.

If you're an existing member, you'll need to provide your member number. This quick-start application allows you to begin the process and answer some standard eligibility questions.

Once your quick start application is submitted, a bank representative will contact you to complete the application and ask for any supporting documents needed.

A step-by-step guide to applying for a car loan with Heritage Bank

To make the process even smoother, it's helpful to calculate the amount you want to borrow and determine your monthly living expenses beforehand. On the website, there are tools such as a calculator to assist you in crunching the numbers. If you need any assistance throughout the process.

The car loan application process explained

First, you quick-start your application online, where you provide information about your income, expenses, existing loans, and credit history. If you meet the basic eligibility criteria, you can submit your quick start application.

At this stage, it's recommended to gather your supporting documents, including payslips and statements, which you'll need to send. To ensure you have everything ready, you can refer to Heritage Bank's Personal Loan Checklist.

Once your application is submitted, a Lending Specialist will contact you to discuss your application in detail and clarify any missing information. They will also review your credit report as part of the process.

Heritage Bank car loan approval and payout

After confirming all the details, they will assess your loan application. You'll be required to sign the application form and provide the necessary supporting documents.

Once these steps are completed, your loan application will be sent for assessment. If your loan is approved, you’ll receive the loan contract via email, post, or you can pick it up at your local branch. It's important to thoroughly read and understand the terms and conditions before signing the contract.

Once you've signed, your loan starts. The lending specialist will verify your returned contract, and the loan settlement will be arranged accordingly. This is when the funds become available for you to use as discussed with your lending specialist. To stay on top of your loan, it's recommended to set up automatic repayments and track your loan's progress using Heritage Bank's Mobile Banking App.

man holding thumbs up

Heritage Bank is a trusted & reliable provider of car loans

In our review, Heritage Bank adheres to the compliance criteria in accordance with the National Consumer Protection Act, where the granting the loan will not cause financial distress to the consumer.

✅ Heritage Bank is a registered credit provider in Australia: ACL 240984

Customer Reviews & Testimonials

No reviews for this business.

Heritage Bank Contact

Physical Address

Postal Address

  • PO Box 190, Toowoomba, 4350, Australia

Opening Hours

  • Monday 08:30 – 19:00
  • Tuesday 08:30 – 19:00
  • Wednesday 08:30 – 19:00
  • Thursday 08:30 – 19:00
  • Friday 08:30 – 19:00
  • Saturday 08:30 – 19:00
  • Sunday – Closed