NAB Car Loans offer both secured and unsecured loan options with competitive interest rates starting at 6.74% p.a. for standard vehicles and from 5.99% p.a. for eligible electric cars. Terms are flexible, ranging up to 7 years, with loan amounts between $10,000 and $100,000. Higher limits and lower rates are available for secured loans. Establishment fees are $350, but this fee is waived when refinancing an existing loan. There are zero exit fees, making early repayments cost-free, and funding can be received within one business day upon approval.

How to Apply: Step by Step

• Log in to NAB internet banking
• Get a personalised quote (credit score is unaffected)
• Fill out the online application with vehicle and financial details
• Submit supporting documents as required
• Receive loan approval and funds quickly

Pros of NAB Car Loans

One major advantage is the fast approval and funding process, often within one business day. There are no exit fees, so you can pay off your loan ahead of schedule without penalty.

Also noteworthy: NAB offers a 0.75% p.a. discount for those financing all-electric or plug-in hybrid vehicles, encouraging sustainable choices with lower rates.

Cons of NAB Car Loans

Secured car loans are restricted to existing NAB customers, so new clients are limited to unsecured options, which may have higher interest rates and lower maximum borrowing limits.

Monthly and late payment fees do apply ($15 monthly, $7 weekly if late), and there’s a one-off application fee unless you’re refinancing.

Our Verdict

NAB’s tailored rates, flexible loan amounts, no exit fees, and fast access to funds make it a reliable and competitive car finance choice for Australians, particularly if you value flexibility and clear terms. The extra discounts for eco-friendly vehicles add further appeal.