ANZ Car Loans

ANZ has been in operation in Australian since 1835, with its first branch opening in Sydney followed by Melbourne three years later. It has since grown into a global giant with operations in Australia, New Zealand and the Pacific region; North America, Europe, Middle East and Asia.

As one of Australia’s Big Four banks, ANZ has over nine million customers worldwide and a global staff of over 50,000. In Australia alone there are 800 branches, 115 business centres and 2,700 ATM’s servicing over six million retail and commercial customers.

ANZ Car Loans for individuals and businesses come in three different varieties, each with their own benefits. For private buyers there are secured car loans, variable interest rate personal loans and fixed rate personal loans, while for business owners there are chattel mortgage, hire purchase and finance lease options.

ANZ Car Loans for individuals

When choosing the right car loan product, your individual circumstances and preferences will play a role in the choice you make. The age of the car, how quickly you’d like to repay the loan and the interest rate you’re willing to pay for the benefits you wish to receive will all be telling factors in which loan you apply for.

An ANZ Secured Car Loan is the most popular choice for a wide range of reasons. It’s ANZ’s only loan product solely dedicated to those who wish to buy a car (or motorbike).

• Loan is secured against the vehicle so interest rates are lower
• Rates are fixed so you’ll make the exact same repayment amount each week, fortnight or month for the life of the loan
• Balloon payment option for loan terms of 1-5 years (this will lower periodical repayments)
• Minimum loan amount is $7,500 (no maximum amount)
• Car must be less than seven years old (to qualify as security)
• The car you wish to buy can be new, used or a demo
• Terms from 1-7 years

For those who want the flexibility of paying the loan off sooner with additional repayments, would like to purchase a slightly cheaper car, or not be constricted by the age of the vehicle, an ANZ Variable Rate Loan is the right option.

• You can increase your loan amount during the life of the loan
• Redraw additional payments you may have made
• No need to use your car as security
• Loan amounts from $5,000 - $75,000
• Terms from 1-7 years

If you wish to buy a vehicle that is older than seven years and want to security of knowing what your periodical repayments will be for the life of the loan, an ANZ Fixed Rate Loan in the best option.

• Fixed interest rate
• No need to use your car as security
• Loan amounts from $5,000 - $75,000
• Terms from 1-7 years

The actual interest rate you will be offered will be determined by the details included in your application. The interest will be revealed in the letter of offer you will receive should your loan application be successful.

To find out your potential repayments if you decide on an ANZ car loan, you can use this Car Loan Calculator.

ANZ also offers insurance for those who take out a Personal Loan. If you stop working due to illness or injury, your repayments will be covered for an agreed period of time.

Should the unthinkable happen and you pass away, the outstanding debt will be repaid on your behalf up to $100,000. ANZ also offers a 0.25% deduction on the interest rate for as long as the borrower has ANZ Loan Protection Insurance.

ANZ Car Loans for businesses

ANZ car loans for businesses can achieve a number of growth goals without impacting on the financial state of the business. Making the right choice when it comes to your borrowing options will affect your ability to repay the loan and the tax benefits you will be eligible to receive. The three options businesses have are:

• Chattel Mortgage - You buy and own the car from the start of the loan, and make periodical repayments until the loan has been paid off. The vehicle is used as security against the loan to lower the interest rate.
• Hire Purchase - ANZ owns the vehicle for the life of the loan, with ownership transferring to the business after the final loan repayment.
• Finance Lease - ANZ buys the vehicle and rent it to you for an agreed period of time. At the end of the lease period you have the option to buy the vehicle for an agreed price.

While ANZ’s three options are slightly different, they all offer common benefits to you and your business. These include:

• No initial cash outlay meaning your working capital can stay in the business
• Loan term and periodical repayment timing is flexible
• Various repayment options, and the opportunity to tailor repayments to suit the cashflow of your business
• Tax benefits including GST claims on the purchase price of the vehicle and interest portion of repayments, and depreciation of the vehicle (ANZ recommends you speak with your accountant to determine which loan option is right for your particular business)

Personal and Business Car Loans are also available online and by telephone through ANZ wholly owned subsidiary, Esanda Finance.

ANZ in the community

The ANZ supports many community programs through their GIVE Program, which stands for Giving, Investing, Volunteering and Emergency relief.

• Giving - Offering key stakeholders (staff, customers and shareholders) the opportunity to make regular or one-off donations to a wide range of worthy causes. Donations are matched dollar for dollar by the ANZ.
• Investing - Offering programs for low-income and disadvantaged individuals to build financial skills, knowledge and confidence to manage and save their money.
• Volunteering - ANZ staff are encouraged to donate their time and expertise to worthwhile projects in their local community. ANZ offers one fully paid day per year to volunteer.
• Emergency relief - ANZ is committed to providing financial and human resource aid to countries where it has a presence when natural disasters strike.

The ANZ Bank also offers financial grants of AU$5,000 - NZ$25,000 to charities and community organisations, while also sponsoring a wide range of sporting and cultural events, and community organisations. These include:

• Sport - Australian Open (tennis - including junior development program ANZ Hot Shots), ANZ and Shanghai Rolex Masters (golf), ANZ Championship and ANZ NetSetGo (netball), ANZ Stadium (Sydney)
• Arts and Culture - The Archibald Prize, Sydney Gay and Lesbian Mardi Gras
• Community Organisations - Zoos Victoria (Melbourne Zoo, Healesville Sanctuary and Werribee Open Range Zoo), Taronga and Western Plains Zoo

ANZ Car Loan eligibility

The eligibility criteria for the various ANZ Finance options differ. To be eligible for an ANZ Car Loan, you must:

• Be buying a car or motorbike for personal use only
• Be at least 18 years of age
• Be a permanent Australian resident or hold a valid work visa
• Be employed or a self-funded retiree who is not bankrupt
• Provide details of your employment (and previous employment is in your current job for less than three years), income, assets and financial commitments
• Show your driver’s licence

To be eligible for an ANZ Personal Loan, you must:

• Be at least 18 years of age
• Earn at least $15,000 per year
• Be an Australian citizen, permanent resident or have a valid visa (i.e. working visa excluding working holiday visas, business visa)
• Provide details of your employment, income and financial commitments
• Show your driver’s licence