An innovative car loan that makes the road to getting your new car smoother.
Beyond Bank brings you a car loan that is not only competitively priced, but has flexible features that make financing your new car easier to manage. They've upped the features on their low rate loan with this "Special Offer", where you'll enjoy a competitive rate, repayment options that include a redraw facility and offset account, and loan terms up to 7 year(s).
You can start the search for your new car loan easily with Beyond Bank's pre-approval, and know that when you get your car you'll be taking on a competitive financing option.
| Product Name | Beyond Bank Low Rate Car Loan "Special Offer" |
|---|---|
| Interest Rate (p.a.) | From 5.69% (fixed) |
| Comparison Rate (p.a.) | 5.97% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $25,000 |
| Loan Security | Secured |
Pros
- Low fixed interest rate
- No early repayment fees
- Flexible loan terms up to 7 years
Cons
- Establishment fee of $175
- Minimum loan amount of $25000
- Only for new cars, or cars that are less than two years old
Features to consider on the "Special Offer" loan
Before clicking "Go to Site", it's important to consider all aspects of this loan. Here are a few features to take note of:
- Competitive rate. The "Special Offer" on this loan means you can enjoy a competitive rate of 5.69% p.a..
- No early repayment fees. If you're able to pay back your loan early, you'll be able to do so without incurring any early repayment fees.
- Offset account. One of the most innovative features of this loan is the Car Budget Account, where you can reduce the amount of interest you pay by offsetting how much you owe.
- Pre-approvals. Want to know how much you can borrow before you start shopping around? You can, with Beyond Bank's pre-approval.
- Redraw. You can make as many additional repayments as you want without penalty, and if you do need to take back some of those extra payments, you can through Beyond Bank's redraw facility.
- Loan terms. Take on this car loan and repay it over a period of up to 7 year(s).
- Establishment fee. This loan comes with an of $175
- Car eligibility. You need to be looking to borrow at least $25,000. The car you're looking to finance also needs to be new, or less than two years old.
How you can apply for this loan
If you're interested in applying for this loan, or finding out more about pre-approval, just click "Go to Site" to submit your details.
Are you eligible for the loan? Make sure you meet the criteria below:
- You're over the age of 18
- You are an Australian citizen or permanent resident
- Your credit history is in good standing and you agree to a credit check
- You have a regular net income of over $2,000 per month
The application process should only take about 15 minutes to complete, and if you're applying with another person (a joint application) it might take about 20 minutes. You'll need the following details to complete the online application:
- Details of where you work, including the address
- If you've been employed less than a year, your previous employment details
- Your address and previous address if you've been there less than 12 months
- Details regarding your income
- Your financial details, including assets and liabilities
- Your driver's licence number
Beyond Bank offers a competitive car loan option, but before submitting your application, remember to compare this offering with similar loans to make sure it's right for you.
Is there car loans available for myself and my hubby to purchase 2 new cars with 1 joint secured personal loan?
Hi Monti,
Thanks for your question.
If you are looking to apply for a joint secured car or personal loan, you can compare your options on this page.
Cheers,
Anndy
Do you refinance a car loan?
Hi Andrew,
Thanks for your question.
Please note that we are finder.com.au, a financial comparison and information website, not Beyond Bank.
Yes, Beyond Bank Low Rate Car Loan is available for refinancing purposes. You can also compare other car refinancing loans here.
Cheers,
Anndy
Hi Andrew.
Thanks for your inquiry.
You have come through to finder.com.au, we are a financial comparison and general information service and not Beyond Bank. There is an option that you can select to indicate that you’re using this loan to pay off a current debt when you fill out your online application. As long as the car you’re refinancing fits the eligibility criteria, you can apply for this loan.
Cheers,
Jason
is there an age limit on the car you are borrowing against
Hi David,
There is no specific age limit but the age of your car can affect the rate you’re offered. Cars over 6 years old may get you a different rate.
Hope this helps,
Elizabeth
How to loan a car for Uber business
Hi Ryan,
You can find out how to get a car loan for an Uber car on this page.
Hope this helps,
Elizabeth
My daughter who is employed full time in a professional job with a university degree and no other debits is looking at borrowing $25,000 for a new $43000 car over 7 years but planning to pay back early.She has other assets of Approx $35,000 and one credit union knocked her back as she rents a house with 2 others. They all pay $190 a week and are all listed on the lease. If one leaves they have a sublet clause so they can get someone else into a room but the credit union accessed her as having to pay $570 a week rent and would not accept her rent as $190 – how would beyond bank access her?.
Hi Fiona,
Thanks for your question.
We can’t really comment on Beyond Bank’s application process – each lender assesses applications differently. Usually, when applying for a personal loan, you will need to list your current expenses, assets and other details relating to your financial situation including any debts and income. In saying that, unless you are applying with your own bank (and they can see your outgoings) they can’t verify the information unless you can provide documentation showing you only pay $190 each week.
It would be best to get in touch with Beyond Bank and discuss her eligibility and application, but if she meets the minimum criteria for this loan (age, income, employment) she can consider applying.
Thanks,
Elizabeth
Hi
I am self employed and have been since April 2015. Is it possible to apply for a loan or do I have to wait until I have been in the business for 12months?
If I can apply what would you need for evidence of income?
Hi Stacey,
Thanks for your question.
Beyond Bank will ask for your previous employment details as you have not been in business for more than a year. In saying that, as long as you meet the minimum criteria, as listed on the page above, you are able to apply. If you have questions regarding your eligibility, you may want to get in contact with Beyond Bank directly.
Thanks,
Elizabeth
Do you offer the same interest rates if you consolidate car loans?
Hi Jess,
Thanks for your comment. You’ve left your comment on finder.com.au – To find out more about rates offered you’ll need to click the “go to site” button and get in touch directly with Beyond Bank
Cheers
Matt
The car loan does not mention caravans. Can the loan be used to fund the purchase of a caravan?
Hi Andrew,
Thanks for your question.
This loan isn’t suitable for financing a caravan, but you can consider Beyond Bank’s Flexi Loan for this purpose. You can also compare your other loan options on this page.
I hope this has helped.
Thanks,
Elizabeth
do u do car refinancing
Hi Wyl,
Thanks for your question.
Just to clarify you’ve come through to finder.com.au, a comparison service and not Beyond bank. When you fill out your online application there is an option to select that you’re using this loan to pay off a current debt. As long as the car you’re refinancing fits the eligibility criteria, you can apply for this loan.
I hope this has helped.
Thanks,
Elizabeth