As with the BOQ personal loan, to be eligible for a car loan, customers need to demonstrate the following:

  • You are over the age of 18

  • You are an Australian citizen or permanent resident

  • You have never been declared bankrupt

  • You have a regular, permanent income

BOQ Fixed Rate Secured Car Loan

The BOQ Car Loan works similarly to the personal loan, but tends to have a lower rate because it's secured by the car.

Unlimited extra payments are allowed, there are no penalties for repaying the loan early and loan terms are between 1-7 years. Customers can also redraw (minimum $100) from their overpayments at no extra cost. Loans can be anywhere from $5,000 to $80,000.

If you are purchasing the vehicle from a licenced dealer, you can borrow up to 100% of the purchase price of the vehicle. For private sales, the maximum LVR becomes 90%. It doesn’t matter if the vehicle is new or used, rates are set.


The following fees apply (correct at time of writing):

Application fee


Monthly maintenance fee