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People's Choice car loans

People’s Choice is one of Australia’s largest credit unions, with more than 375,000 members across Australia. The member-owned financial institution has branches and advice centres in South Australia, Victoria, the Northern Territory, Australian Capital Territory and Western Australia.

People's Choice has more than $10.7 billion of funds under management and advice. The credit union employs about 1,000 employees.

Mark Bristow
Mark Bristow

Personal Finance Editor

Content updated

Product data updated

Why choose People's Choice


  • No ongoing fees
  • No penalties for additional repayments
  • No penalties for early payout
  • Loan terms of up to 10 years
  • Redraw facility


  • Application fee charged
  • Reverts to standard variable rate after first 5 years
  • Higher interest rate for smaller loan sizes

People's Choice Car Loans

Car Loans calculator

Use our car loan calculator to see how much you’d have to repay under different borrowing scenarios.

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  1. This is an estimate of how much you would pay (weekly/fortnightly/monthly) based on your borrowing amount, interest rate and loan term.
  2. Calculations assume that details entered into calculator, including interest rates, do not change for the lifetime of the loan.
  3. Interest is calculated by compounding on the same frequency as the repayment selected, i.e. weekly, fortnightly or monthly.
  4. Months are assumed to be of equal length. However, given that some months are longer than others, interest charged by vary depending upon the month.
  5. The calculation rounds of the car loan repayment to the closest dollar value without decimals.
  • All calculations are estimates only; there are no guarantees, pre-qualifications or pre-approvals for borrowing. All results are based solely upon the data entered into the calculator.
  • Your final mortgage repayments or borrowing amount will depend on your lender’s eligibility criteria among other factors.
  • Calculator does not include the cost of fees or other extra charges.
  • Calculator does not account for changes to interest rates over time.
  • This calculator is for information purposes only. Any advice is general and has not taken into account your personal circumstances. Read our full disclaimer.

Features of a People’s Choice Credit Union car loan

People’s Choice provides secured and unsecured car loans for both new and used vehicles.

Borrowers may apply for a car loan between $2,000 and $100,000 and pay it off over a maximum loan term of 10 years. However, note that you may get a higher interest rate if you take out smaller loan amounts and if you go for an unsecured car loan.

People’s Choice charges a one-off establishment fee on its car loans. But there is no monthly fee and you can pay off your loan early without being penalised. There’s also a redraw facility with the car loan.

Secured car loans have fixed rates for the first five years, then reverts to a variable rate. Unsecured car loans have fixed rates for the entire term.

People’s Choice Credit Union car loans – customer service

Customers can contact People’s Choice by phone, social media and online enquiry form. You can also drop into a branch for customer support. People’s Choice’s phone line can be reached from 9am to 8pm (ACST) on weekdays, and 8.30am to 4.30pm (ACST) on Saturdays.

Who is eligible for a People’s Choice Credit Union car loan?

  • Must be over the age of 18
  • Must be a permanent resident of Australia

How to apply for a People’s Choice Credit Union car loan?

You can apply for a People’s Choice car loan online, over the phone or in a branch. Here’s how to apply for a car loan with them online:

  1. Go to People’s Choice Car Loans and select ‘Apply online’.
  2. Fill out the application form.
  3. Review your indicative quote and repayment.
  4. If you’re happy with it, proceed with the application and submit it.

You’ll need to have the below information ready when you apply for the car loan:

  • Income details – pay slips, rental income and commissions.
  • Expense details – utility bills, rent, any loan repayments, credit cards.
  • Asset information – cash savings, property, vehicles, shares.
  • Residential and employment details for the past three years
  • Australian driver’s licence number and expiry date

People’s Choice Credit Union car loans review

People’s Choice is a major credit union and may suit borrowers who prefer reputable lenders with history. It may also suit people who want different loan options.

But to qualify for a lower car loan interest rate, customers at People’s Choice must take out a secured car loan of $20,000 or more. If you intend to borrow less than $20,000, you may be able to find a car loan with a lower rate with another lender.

The interest rate you can get at this member-owned credit union may depend on various factors, including whether you go for a secured or unsecured car loan, the age of the vehicle being used as security and its value.

But as People’s Choice is a big credit union, its car loan interest rates may not be the lowest on the market.

To find the best car loan for you, it’s worthwhile to compare interest rates, fees and features from several different lenders before committing to a loan.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, target market determination fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.