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Personal loans / Car loans & car finance

Limited time: $250 cashback on unsecured personal loans

Get $250 cashback on a new unsecured personal loan. Available to eligible CommBank Yello~ customers who:

  • Submit an application by 29 February 2024; and
  • Fund a loan amount of $20,000 or more; and
  • Qualify as an eligible CommBank Yello~ customer the month after your loan is funded

Why Choose CommBank for your next car?

Competitive interest rates

Know you’re getting a personalised rate that’s right for your circumstances.

Discounted rate for an EV & hybrid

Get our lowest rate of 5.49% p.a. (6.92% p.a. comparison rate) when you take out a Secured Personal Loan for an eligible electric vehicle.1

Borrow what you need

Up to $50,000 for unsecured personal loans, and $100,000 if you use your car as security.

I would like my next car to be a...

New car

For new cars (or used cars less than seven years old).

Car loans for new cars

Used car

For any used car.

Car loans for used cars

Electric vehicle

For electric or hybrid vehicles.

Car loans for electric or hybrid vehicles

Looking for a vehicle for business use?

Check out some options we have for business car and equipment finance

Features and benefits:

  • Choice of terms from three to five years
  • Fixed rates and repayments
  • Fast and simple application process

Tell me about business car and equipment finance

Considering an EV for your next vehicle?

Here are some reasons you may want to consider an electric vehicle for your next car. Find out more about EVs.

Lower ongoing running costs

You could benefit from an estimated annual saving of $1,300 to $1,700 from the lower operational costs of running an EV.2

Charging infrastructure is rapidly developing

There are more than 2,300 charging sites nationwide3, and Australian states and territories have committed over $200m to roll out additional charging sites across Australia.2

EVs are becoming more accessible and affordable

There are models you can now purchase for less than $50,000^, which means you can go electric for less than $170 per week#. Government rebates are also becoming more common2, and home charging units are getting faster and smarter.*

Be a part of the change

Join the transition in reaching net-zero emissions for all new vehicles. One in Six customers financing a new car with CBA choose an EV.

Some resources to help you get started  

  • How much can I borrow?

    Estimate how much you can borrow and work out the repayments at the current interest rate.

    Use our borrowing calculator

  • Repayments calculator

    Understand what your repayments will be. Adjust the term and the amount to meet your budget.

    Use repayments calculator

  • Help me choose

    Use our personal loan selector tool to choose between Variable, Fixed Rate or Secured.

    Use our selector tool

Some other resources to help you with your car buying journey

How to use a personal loan to buy a car

Read article

The costs of owning a car

Read article

A checklist for buying your first car

Read article

Things you should know

 

  • This guide doesn’t consider your individual objectives, financial situation or needs. Before basing any decisions on this information, please consider:

    • its appropriateness to your circumstances
    • obtaining professional advice specific to your needs, including financial, taxation and legal advice

    ~ This offer is only available to eligible CommBank Yello customers. You may be eligible to receive this offer if you meet the eligibility criteria of any of the benefit sets in the CommBank Yello Terms and Conditions and your eligibility is not excluded by those terms. The CommBank Yello Terms and Conditions and eligibility criteria may be subject to change. Please read the full CommBank Yello Terms and Conditions.
    Cashback will be paid in accordance with the CommBank Yello Terms and Conditions.

    1 Eligible vehicles must be fully electric, or hybrids emitting less than 120g C02 emissions per kilometre. If you're using the car as security it must be no more than seven years old, not currently under finance and have an active comprehensive insurance policy. The comprehensive insurance policy must be organised prior to loan funding.

    2 See Commbank Sustainable Economics report published 3 July 2023.

    3 The Australian National Electric Vehicle Strategy page 14.

    ^ See report from the “Electric Vehicle Council: State of Electric Vehicles”, pages 63-67, published on July 2023.

    # $170 weekly repayment is calculated on an example of a $50,000 green secured loan over a term of seven years and our lowest rate of 5.49% p.a. (comparison rate 6.27% p.a.). This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

    * See article by EVNex: “The Best Electric Vehicle Charger for your home”, published on 12 December 2022.

    Applications for finance are subject to the Bank’s normal credit approval. View the Personal Loan Terms and Conditions. Full terms and conditions will be included in our loan offer. Fees and charges payable. Commonwealth Bank of Australia ABN 48 123 123 124. Australian credit licence 234945.