Aussie Car Loan Review
Finance your dream car with Aussie and take advantage of the experience of one of Australia's largest mortgage brokers.
An Aussie Car Loan can help you buy your dream car or even the car that you need to travel from one place to another. It's a flexible loan and can be used to buy a new or used caravan, trailer, motorcycle, scooter or boat, and the application can be completed in 15 minutes.
$199
Application Fee
From 12.99% (fixed)
Interest Rate (p.a.)
13.94%
Comparison Rate (p.a.)
Details
| Product Name | Aussie Car Loan |
|---|---|
| Interest Rate (p.a.) | From 12.99% (fixed) |
| Comparison Rate (p.a.) | 13.94% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $3,000 |
Things to consider
The Aussie Car Loan is a flexible financing option for your next new or used car. You can even bundle your loan with other debts to consolidate and pay them off in one neat package. It is an unsecured loan so your assets are not used for security if you default on the loan, while the fixed rate means your repayments are set for the whole loan term.
Once you have bought your car it's possible to get your comprehensive car insurance through Aussie as well.
Features of the Aussie Car Loan
As mentioned, the Aussie Car Loan is comparatively flexible compared to other car loans. Here's what you can expect from this loan.
- Loan amount. The minimum amount of loan offered by Aussie Car Loans is $3,000 and the maximum amount that you can borrow depends on your income and ability to manage your repayments.
- Loan term. The term of loan can range from 1 year to 7 years, giving you the ability to decide on a term that suits you.
- Flexible repayments. Repayments can be made weekly, fortnightly or monthly by direct debit. This gives you the ability to tailor repayments to what suits your budget.
- Interest rate. This loan features a competitive fixed rate, currently 12.99% p.a. for the life of the loan.
- Optional extras. The Aussie Car Loan gives you some options which you can use to make your loan suit you better. If you happen to run into extra money, for example, you can put this towards your loan as a lump sum payment. You may also be able to increase your loan amount, although this is subject to Aussie's lending criteria.
Fees and charges
- Establishment fee. An establishment fee of $199 is charged for this loan. This amount needs to be paid only once at the time when the loan amount is received.
- Monthly administration fee. An administration fee of $10 applies and needs to be paid every month.
- Early termination fee. If you decide to pay your loan earlier than the fixed term or you want to prepay your loan, you'll need to pay an early termination fee. The amount depends on how much you still owe and the time left your term.
How you can apply
If you meet the above criteria and are interested in applying for the Aussie Car Loan, you can do so by clicking "Go to Site". Before you do so, you need to meet the following eligibility criteria.
You must:
- Be over 18 years of age
- Be an Australian permanent resident
- Have consistent paid employment, be working at present and have an annual gross income of above $24,000
- Not have any defaults on loans or credit cards within the last five years
- Not have filed for bankruptcy within the last seven years
- Be out of your probationary period at your work
You'll need to have the following documents on hand:
- Your current address details as well as your previous address details if you have moved within the last three years
- Details of your income, savings, expenditure and assets.
- Your employment details including your employer's address and contact information
Make sure you go through the terms and conditions of the Aussie Car Loan and also understand all the features of this loan before you submit your application.
Remember to always compare car loan options thoroughly before submitting an application in order to find the best possible financial solution for your circumstances.
