Car Loan
- Last updated on 10 Jul 2020
Advertised Rate
5.50%
Fixed
Comparison Rate*
5.85%
Upfront Fee
$250
Loan amount
$2k to $75k
Repayment
based on $30,000 loan amount for 5 years
Pros and Cons
Pros
- No ongoing fees
- No early repayment fees
- Can apply online
- Suitable for both new or used car
Cons
- Application fee charged
- Requires security to be held
- Cannot apply in branch
Our Money Market Car Loan Fees and Features
New Car | Missed Payment Penalty $25 |
Used Car | Redraw Activation Fee N/A |
Motorcycle | Repayment Type Fixed |
Boat | Loan Type Secured |
Upfront Fee $250 | Secured By Vehicle |
Early Exit Penalty Fee $0 | Available to 457 Visa Holders |
Borrowing range $2k - $75k | Redraw Facility |
Total repayments $34,382 | Extra Repayments |
Ongoing Fee $0 |
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OurMoneyMarket works differently from a traditional bank. It is a marketplace lending service which connects borrowers looking for car loans to retail and wholesale investors who want to receive interest from their funds.
OurMoneyMarket is an online-only operation, which means it doesn’t have branches. You can apply for loans online, however you can also call its customer service line if you need help.
