Yes, you can make unlimited additional repayments without penalty.
Buy a vehicle
You’re looking to buy a new car.
You can borrow all or part of the amount with a car loan.
There's some excellent information to assist car buyers at moneysmart.gov.au/borrowing-and-credit/car-loans.
Calculate how much you can borrow, and take into account other costs of buying a car, such as:
- purchase price
- stamp duty
- registration fees
- transfer fees
- ongoing costs, such as servicing.
You will also need to answer questions like:
- Can you arrange pre-approval?
- What will the repayments be?
- Can you make additional repayments?
6.45% p.a. 6.66% p.a. comparison rate.