Car Loans
If you’re looking to buy a new or used car, we have two great loans with low interest rates and no hidden extras.
New Car Loan (Secured)
To help get you behind the wheel of your new car up to 3 years old.
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8.99% pa* interest rate 9.20% pa* comparison rate |
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Used Car Loan (Secured)
To help you get behind the wheel of your used car from 3 to 5 years old.
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11.85 % pa*
interest rate |
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Important notes:
+ Up to $40 free transactions per month included. See Transaction Fee Schedule.
^ Free redraw for amounts $501 and above, $5 for amounts under, via Internet and Phone Banking.
* Comparison rates are calculated on a loan amount of $30,000 over a term of 5 years.
WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. View our Comparison Rate Schedule.
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| Car Loan Benefits |
Variable and lump sum repaymentsBy contributing extra income to your loan, in addition to your scheduled repayments, you can pay off your loan sooner and potentially save hundreds of thousands of dollars in interest costs. Want to calculate how much you could save by making extra repayments? Use our Loan Calculator Early repayment without penaltyThe earlier you pay off your loan the more money you save in interest charges. We don't penalise you if you're able to pay off your loan sooner. Redraw your advance repaymentsWe provide you with the option of making extra repayments on your variable rate loans so you can save money on interest charges. Redraws are free for redraws over $501 via Internet and Phone Banking. A $5 transaction fee applies for each redraw $500 or under. Automatic repayments (salary / account)You can arrange to make automatic repayments either by payroll deduction, direct debit from your savings or transaction account or via internet/telephone banking. Setting up automatic repayments saves you time and enables you to avoid any late fees. No loan interviewSubmitting a loan application couldn't be simpler. You can apply online today and receive approval within 24-48 hours. No need to visit the branch for a loan interview. Loan repayment insurance availableLoans are a long term commitment, so it makes sense to protect your repayments. Learn more about our Loan Repayment Insurance. Car Insurance availableIf you take out a car loan with us, you will need to have the vehicle comprehensively insured. We can provide you with a competitive quote from Allianz and also offer you the option of pay-by-the-month to help you manage your cashflow. Learn more about Car Insurance |
| Car Loan FAQs |
Do I have to be a member to take out a loan?Anyone can enquire or apply for a loan with us - you don't have to be a member at this time. You will need to become a member when you take out the loan. We are a mutual financial services organisation whose shareholders are its members, and you must be a member before you can take up a product or service with us. Read more about becoming a member. How does redraw work?We provide you with the option of making extra repayments on your variable rate loans so you save money on interest charges. How much can I borrow?The minimum amount you can borrow for a car loan is $5,000. The maximum amount you can borrow is 100% of the purchase price for cars up to 3 years old or 80% of the purchase price for cars 3-5 years old. The actual amount you can borrow is determined by your ability to meet the repayments of the loan. Calculate how much you could borrow with our Loan Calculator. How do I make repayments on the loan?There's a lot of choice. You can arrange to make your loan repayments either by:
Learn more about these repayment methods. How often will I receive information on my account?Statements are produced quarterly. Duplicate statements can be requested at anytime from our office. Account information also available through our Internet and Phone Banking services. What security is required to take out a Car Loan?We will take a Bill of Sale over your vehicle as security. Loans over $35,000 require Stamp Duty to be paid. We will advise you of the amount for your loan. What happens if I get sick, have an accident or lose my job?The best way to obtain peace of mind that your repayment obligations will be met in the case of an accident, illness or involuntary unemployment is take out insurance. Learn more about Loan Repayment Insurance. Do I need to take out loan insurance?You can take out insurance on your loan for your peace-of-mind. This insurance is designed to cover your lending obligations in the case of sickness, accident or involuntary unemployment. Although you do not have to purchase your insurance through us, we do offer a range of insurance policies. Learn more about Loan Repayment Insurance Do I need to take out insurance on my vehicle?If you take out a car loan with us, you will be required to have the vehicle comprehensively insured. Although you do not have to purchase your insurance through us, we offer an online quote facility which you can use prior to purchase to make the loan process more efficient. |
| More Information |
Apply
Apply using our simple online Car Loan application form. 
Questions?
If you have any questions, please contact us 
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