Car Loans Frequently Asked Questions

Bankwest offers loans for cars that are less than seven years old or have a minimum value of $10,000. Loan terms are between three and seven years  at a fixed interest rate, with the option to make extra payments without any extra charges.

To apply for Bankwest car loan pre-approval, you’ll need proof of your identity and income. You’ll also need other documentation, such as insurance certificates and registration papers. 

Once you receive conditional approval and have selected your car, you may have to provide supporting documents to proceed to the next stage.

Getting pre-approval on your car loan can give you a good idea of how much you may be allowed to borrow. This will help you set your limits while selecting your car. You can apply for pre-approval for an ANZ car loan by filling out a simple online application form, where you’ll have to submit relevant identity, employment and income documentation. 

ANZ will then conduct a credit check based on your application and documentation. It’s important to note that this could have an impact on your credit history. Based on your credit and income documentation analysis, ANZ will provide an amount they are willing to give you as a loan. After this, you can find the right car that matches the proposed loan amount and send it through your final loan application. 

It’s important to remember that pre-approval gives you an indication of how much you can borrow from ANZ to purchase your car, but it doesn’t guarantee the final approval. 

When a lender does a credit check during the pre-approval and full application process, it’s noted on your credit report as an inquiry, which can impact your credit score and chances of approval. If you approach too many lenders for pre-approval, especially in a short period, these inquiries will likely hurt your credit score. Multiple attempts to get your car loan application through can affect your credit score. 

Every time you fail to make repayments on time, it is recorded on your credit report. Inability to pay your car loan installments on time can have a long term effect on your credit score. Further, if you’re unable to pay your car loan, a repossession will be on your credit file for seven years and impact your credit score.