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- Discounted Personal Loan (Car Loan)
Discounted Personal Loan (Car Loan)
- $20k to $120k
- 1 to 10 years
- New or used car
- Fixed Rate
Interest rate p.a.
6.49%
Comparison rate* p.a.
6.84%
Discounted Personal Loan (Car Loan)
- $20k to $120k
- 1 to 10 years
- New or used car
- Fixed Rate
Interest rate p.a.
6.49%
Comparison rate* p.a.
6.84%
RateCity says
"Whether you want a new or second-hand car, go either way with this major credit union, and enjoy features like a redraw facility."
Calculate your repayments for this loan
Your estimated repayment
$445
based on 30000 loan amount for 7 years at 6.49%
Pros and Cons
For Discounted Personal Loan (Car Loan)
Benefits
- Lower than average rate
- No ongoing fees
- No early exit penalty
- Unlimited extra repayments
- Flexible repayment options
- Can apply online
- Can apply in branch
- Suitable for both new or used car
Drawbacks
- Higher than average application fee
People's Choice Rate Car Loan overview
For Discounted Personal Loan (Car Loan)
Details
Total repayments
$37,408
Interest rate type
Fixed
Borrowing range
$20k - $120k
Security type
Secured
Loan term
1 to 10 years
Secured by
Vehicle/Car, caravan, or motorcycle can be used as security. Same eligibility conditions.
Loan type
Is Fully Drawn Advance
Repayment frequency
Weekly, Fortnightly, Monthly
Age of car
up to 7 years
Target Market Determination
Visit People's Choice to view Target Market Determination.
Features
Extra repayments
Yes
Redraw facility
redraw activation fee of $0
Instant approval
Time to funding
N/A
Fees
Upfront fee
$250
Ongoing Fee
$0
Missed payment penalty
$25
Early exit penalty fee
$0
Permitted Loan Purposes
New car
Used car
Motorcycle
Boat
Other Restrictions
Available for cars up to 7 years old from year of manufacture (2017). Fixed for 5 years then reverts to a variable rate for remaining term up to a maximum of ten years. Minimum redraw amount is $250. Redraws are only available if sufficient extra repayments have been made against the loan account.
