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Used Car Loan

First Option Credit Union

Borrowing Amount

Borrow Amount

Loan term
Advertised Rate6.99%variable
Comparison Rate7.24%
Monthly Repayment$594
Loan amount$1k to $100k
Pros
  • No ongoing fees
  • No early exit penalty
  • Can apply online
  • Available for 457 visa holders
Cons
  • Requires security to be held
  • Cannot apply in branch

Suitable For

New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat

Loan Fees

Upfront Fee
Upfront Fee$0
Ongoing Fee
Ongoing Fee$0
Early Exit Penalty Fee
Early Exit Penalty Fee$0
Missed Payment Penalty
Missed Payment Penalty$0
Redraw Activation Fee
Redraw Activation Fee$10

Loan Profile

Repayment Type
Repayment TypeVariable
Loan Type
Loan TypeSecured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
View Repayment Schedule

Features Flexibilities

Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
Other Benefits
Other Benefits
Other Restrictions
Other Restrictions
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