HomeNew Car – Special – Secured – PAYG
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Key Features

The ideal car loan
for home owners

  • Redraw Facility
    Yes
  • Additional Repayments
    Yes
  • Loan Type
    Variable
  • Min Loan
    Max Loan
    $10,000.00
    $100,000.00
  • Application Fee
    $199
  • Settlement Fee
    $995
  • Monthly Fee
    $10
  • Discharge Fee
    $150
  • Internet Access
    Yes
  • LVR
    100%
  • Repayment Type
    Principal & Interest
  • Loan Splitting
    Yes

Saving You Time and Money

You don’t need to wait to buy your new car. With our secured new car loans, you can save money on interest, and with our 24-hour finance you can drive off in your new car tomorrow! Take a look at the flexible features below and apply online today for your secured new car finance.

 

Take the wheel and drive away in your dream car

You don’t need to wait to buy your new car. With our secured new car loans, you can save money on interest, and with our 24-hour finance you can drive off in your new car tomorrow! Take a look at the flexible features below and apply online today for your secured new car finance.

Repayments Calculator

Repayments Calculator

The interest rate for the loan.
% p.a.
What is the length of time to repay the loan?
years
How much do you want to borrow?
$

Your Repayments

  • Weekly
  • Fortnightly
  • Monthly

$0 per month

Important Disclaimer: This is intended as a guide only. Details of terms and conditions, interest rates, fees and charges are available upon application. Mortgage House’s prevailing credit criteria apply. Please note that your actual fortnightly repayment would be equal to the monthly repayment amount divided by two. Weekly repayments would equal the monthly repayment amount divided by four. If you choose to pay fortnightly or weekly, your actual repayments will be higher than repayments shown on this page. You can reduce the term of your loan if you choose to make repayments fortnightly or weekly. We recommend you seek independent legal and financial advice before proceeding with any loan.

Loan Details

  • Maximum LVR
    100%
     
  • Minimum Loan Size
    $10,000.00
     
  • Maximum Loan Size
    $100,000.00
     
  • Fixed Rates
     
     
  • Loan Splitting
    The ability to have many separate accounts under one loan for which there may be multiple purposes, e.g personal and investment splits, fixed and variable splits, etc.
    Yes
     
Repayment Options
  • Principal & Interest
    A loan in which both the principal and the interest are repaid over the term of the loan. Amortisation or amortising is another word for these loans that are gradually being paid off over a set period of time (the loan term). P&I can also be the abbreviation term for Principal & Interest.
    Yes
     
  • Interest Only
     
     
  • Additional Repayments
    Money IN - Allows you to make additional repayments without penalty.
    Yes
     
  • Direct Debits
    Money IN - A direct debit is an automatic payment that is set up to repay your home loan. You specify the frequency and repayment amount as well as the bank or transaction account that the repayment is to be drawn from and this payment will occur automatically on the set due date.
    Yes
     
  • Salary Credit
     
     
  • Direct Credits
     
     
  • Deposit Card
     
     
  • Bpay In
    Money IN - The ability to pay your loan via a unique biller code from another financial institution
    Yes
     
Loan Purpose
  • Purchase
    Where you are buying a property
    Yes
     
  • Refinance
    Where you are looking to move your current loan from one lender to another
    Yes
     
  • Debt Consolidation
     
     
  • Construction
     
     
  • Vacant Land
     
     
  • Equity Release
     
     
  • Business Purpose
     
     
Features
  • 100% Offset Facility
     
     
  • Redraw Facility
    Money OUT - If you have made any lump sum or additional principal repayments to your loan account in excess of the standard repayment amount, you can access or draw back those extra repayments.
    Yes
     
  • No Monthly Fees
     
     
  • No Package Fee (excluding Stretch Feature)
     
     
  • No Rate Lock Fee
     
     
  • Stretch Package Feature
     
     
  • Toggle Feature
     
     
  • Repayment Sweep of Credit Card
     
     
  • Internet Access
    The access via the internet to view & administer your home loan.
    Yes
     
  • Phone Access
     
     
  • ATM / EFTPOS Debit Card
     
     
  • 3rd Party Direct Debits
     
     
  • Repayment Required
    Each repayment cycle (normally monthly) a repayment must be made, regardless if you have redraw available in the loan account.
    Yes
     
  • 3rd Party Protocol Friendly
     
     
  • Loan Switching
     
     
  • Bpay Out
     
     
  • Loan Portability
     
     
Fees
  • Monthly Fee
    $10
     
  • Package Fee
    No package fee
     
  • Rate Lock Fee
    No rate lock fee
     
  • Application Fee
    $199
     
  • Settlement Fee
    $995
     
  • Discharge Fee
    $150
     

Why Choose a Mortgage House Car Loan?

Take a month off

Need a break to ease your cash flow? Simple. With the flexibility of our fail-safe redraw facility, when you’ve made enough extra repayments to cover your next month's payment, you can take a month off!

Borrow more

You may be eligible to borrow more than the price of the car to help cover expenses like insurance and on-road costs.

24-hour fast-tracked approvals

Don’t let your new vehicle wait! When you have all your documents and your application ready to go, we won’t hold you up - you could get your dream car ready to purchase the very same day.

Bundle and save even more

Our customers benefit from discounted low rates on bundle deals, and you can too. When you take out a personal car loan, we can offer great discounts on our home loans if you're looking to refinance or purchase a new home.

Car Loan FAQs

What do I need when applying?

PAYG:

•  Last pay slip if your salary is not paid directly into the loan or Offset Account

•  Invoice for car purchase

Self-Employed:

•  Last years tax returns for individuals and business

•  Invoice for car purchase

How much can I borrow?

Car loans of up to $50,000 are available with no minimum loan size and a maximum loan term of 10 years.

Am I eligible for a Car Loan?

There can be different requirements if you want to apply for a car loan, depending on your circumstances. Our car loan is available to anyone with a home loan. If you can demonstrate that you’ve been regularly paying off a home loan with any lender, then you automatically satisfy the initial requirements needed for a Mortgage House personal car loan. Existing Mortgage House customers can also skip a lot of the paperwork required and enjoy a faster approval process.

Am I eligible for Business Vehicle Finance?

We have two types of Business Vehicle Finance options available. The first one is a Car Hire Lease which is suitable for the self-employed who use their car for work a lot. The second option is a Novated Lease suitable for business owners and employees who enter into a salary packaging arrangement to help the employee fund the car from pre-tax income. The main benefit of both options are the tax benefits that can be claimed. You may be eligible for business vehicle finance if you fall in these categories.

What are the benefits of a car loan?

There are many benefits of taking on our Car Loan. The main benefit being that it gives you access to the funds you need to buy the car of your choice without having to wait. You can borrow up to $50,000 and have a set period to pay off your loan with regular repayments. You may even be able to enjoy tax benefits if you’re using your car of business purposes.

Can I pay off a car loan quicker?

Yes you can make unlimited extra payments directly into your loan and pay it down quickly and save on interest. This is also a good way to build up savings for a rainy day. You can access the extra payments using the redraw facility. Direct salary crediting into your loan offset account is another way to save money because that way you only pay interest on the difference between the balance in your offset account and your loan amount.

Is a car loan right for me?

Whether you’re looking to buy your first car or upgrade to a newer, more safer and economical model, you may not have ready cash to buy a car outright. That’s where a car loan may work for you. It allows you to own your car now and pay it off over a set period of time with regular repayments. We also have different car loan options for personal use and business use so you can choose the one that’s right for you.

What should I consider when applying for a car loan?

Think about the purpose of your car loan. Is it for your personal use, for business purposes or part of a salary packaging arrangement with your employer. This will help you determine if you require a car loan or a novated car loan. Review all your options before deciding on the loan that’s right for your needs.

Can I increase my Car Loan repayments?

Yes, our Car Loan gives you the flexibility to make unlimited extra payments above the minimum required repayments, without any penalties. In fact, it’s one of the easiest ways to pay off your loan sooner. When you’ve got spare cash or receive lump sum payments like a work bonus or tax refunds it may be a smart move to direct it towards your loan and pay it off sooner and save on interest payable.

What if I’m self-employed and am unable to provide payslips?

We understand that when you’re self-employed, meeting some of the asset and income criteria like producing payslips can be challenging. Depending on your circumstances, you can still apply for a Car Loan. If you have a good credit history and can demonstrate that you’re keeping up with repayments, a letter from your accountant may help you get around providing conventional proof of income. Speak to us to find out the options available.

Can I get a car loan if I have defaults?

Talk to us about why you’ve missed making payments and we can review your situation and be able to help. Generally, missing one or two payments won’t prevent you from getting a personal loan. It will likely keep you from qualifying for the lowest rate and terms though.

What do I need when applying?

PAYG:

  • Last pay slip if your salary is not paid directly into the loan or Offset Account
  • Invoice for car purchase

Self-Employed:

  • Last years tax returns for individuals/ business
  • Invoice for car purchase

How much can I borrow?

Car loans of up to $50,000 are available with no minimum loan size and a maximum loan term of 10 years.

Thinking About a Home Loan?

Looking at refinancing your home loan to get a better deal? Our super-low home loan rates and money-saving features could lower your monthly repayments and give you more financial flexibility.

LEARN MORE

Our Home Loans Start From:

% p.a
Variable Rate
% p.a
Comparison Rate^

Things to Consider When Buying a Car

Which car suits your needs?

Do you want to get a brand-new or used car? Do you have a large family to accommodate? Buy the car that best suits your needs and your budget. Making a list of all the features you need in your car may help you decide. Do your research so you know what to expect in terms of value 
for money.

How much can you afford?

It’s a good idea to do the numbers and see how much you can spare each month to put towards a loan and car maintenance. This will help you determine a budget for your car purchase.

Get the right finance

Mortgage House can finance 100% of your car loan without a deposit. With competitive low interest rates and loan features that can help you pay off the loan faster, you could be in your new car and on the road sooner than you think.

Ongoing costs

Besides the general costs like petrol and CTP insurance, every make and model of car will have a different set of ongoing expenses. When choosing your car, consider the cost of maintenance such as servicing and tyre replacement.