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Unsecured Car Loan

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I want to borrow

Loan Term

years

Repayment Frequency

Unsecured Car Loan Pros and Cons

Pros:
  • No ongoing fees
  • No early exit penalty
  • Can apply online
  • Suitable for both new or used car
Cons:
  • Application fee charged
  • Cannot apply in branch

Teachers Mutual Bank Unsecured Car Loan Fees and Features

New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$100
Early Exit Penalty Fee
Early Exit Penalty Fee
$0
Borrowing range
Borrowing range
$2k - $50k
Total Repayments
Total Repayments
$38,220
Missed Payment Penalty
Missed Payment Penalty
$10
Redraw Activation Fee
Redraw Activation Fee
$0
Repayment Type
Repayment Type
Variable
Loan Type
Loan Type
Unsecured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
New Car
New Car
Used Car
Used Car
Motorcycle
Motorcycle
Boat
Boat
Upfront Fee
Upfront Fee
$100
Early Exit Penalty Fee
Early Exit Penalty Fee
$0
Borrowing range
Borrowing range
$2k - $50k
Total Repayments
Total Repayments
$38,220
Missed Payment Penalty
Missed Payment Penalty
$10
Redraw Activation Fee
Redraw Activation Fee
$0
Repayment Type
Repayment Type
Variable
Loan Type
Loan Type
Unsecured
Secured by vehicle
Secured by vehicle
Available to 457 Visa Holders
Available to 457 Visa Holders
Redraw Facility
Redraw Facility
Extra Repayments
Extra Repayments
Other Restrictions
car age < 10 years old

FAQs

Student car loans are not a necessarily a product in and of themselves, but what you may be looking for is a guarantor car loan.

A guarantor car loan has a third-party act as a form of guarantee for your loan application, telling the bank or lender that if you default on your loan, someone will pay the loan repayments.

Going guarantor on a car loan is no new thing, and before internet-based credit scores, guarantor car loan applicants would apply for loans with a guarantor or property owner who could vouch for the person borrowing the loan.

To get a guarantor car loan, you’ll need someone willing to act as a guarantor for your car loan.

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