BCU Bank Car Loan
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- Application Fee
- $200
- Interest Rate (p.a.)
- From 6.74% (variable)
- Comparison Rate (p.a.)
- 7.05%
- Max Loan Amount
- $150,000
Summary
Get a competitive personal loan with a minimum interest rate in the top 20% of the market.The ING Personal Loan stands out with a minimum interest rate in the top 20% of the market. It also has no ongoing monthly fees, contributing to its high Finder Score of 8.8.
However, applicants should be aware of the maximum interest rate, which is among the top 20% highest in our database. The maximum loan amount is also below the market average, potentially limiting its use for larger purchases.
Details
Product details
| Product Name | BCU Bank Car Loan |
| Interest Rate (p.a.) | 6.74% |
| Comp. Rate (p.a.) | 7.05% |
| Interest Rate Type | Variable |
| Min Loan Amount | $4,000 |
| Max Loan Amount | $150,000 |
Main points to consider about the bcu car loan
A BCU Bank car loan can be an unsecured loan or a secured loan with the car or some other asset as security. If you opt for a secured loan, your asset must have a value greater than $5,000.
The BCU Bank car loan is a flexible personal loan with various features. You can make additional payments as well as pay the loan out early without any extra fees or penalties.
How does BCU Bank Car Loan compare?
- Competitive starting rate. The minimum interest rate is in the top 20% of personal loans we track.
- Affordable application fee. The $199 application fee is in the top half of lower fees on the market.
- High maximum rate. The maximum interest rate is in the top 20% of higher rates in our database.
- Below-average maximum loan amount. The maximum you can borrow is lower than the market average.
Features of the BCU Bank car loan
- Competitive interest rate. The variable rate is from 6.74% p.a. and the comparison rate is 7.05% p.a.(calculated on a loan amount of $30,000 over a term of 5 years with monthly repayments).
- Redraw facility. If you are ahead with your repayments, you have the option of drawing down the extra money you've paid to spend on whatever you like.
- Fast approval. Apply online, by phone or at your nearest BCU Bank branch, and you could have approval in as little as 30 minutes.
- Flexible payment terms. You can make additional repayments at any time without any financial penalty.
- Early payout option. You have the option to pay the loan off early, without incurring a fee.
How much will the loan cost?
Fees and charges that apply to the BCU Bank car loan include the following:
- Application fee: Unsecured loan $200, secured loan $200
- Monthly fee: $0 administration fee
- Redraw fee: $0 per redraw
How to apply for the BCU Bank car loan
You can apply for a BCU Bank car loan simply by clicking "Go to Site" on this page. To be eligible for this loan, you must meet the following criteria:
- Be over 18 years of age
- Have a regular income
- Have a good credit history
- Borrow a minimum of $4,000 or a maximum of $150,000
- Take the loan over a minimum term of 5 years
- Have an asset worth more than $5,000 if taking out a secured loan
- Have another BCU Bank product
You will need to provide proof of identity (ie, driver's license, passport etc), proof of income (ie, payslips, bank statements etc) and proof of assets (ie, vehicle ownership papers, mortgage statement etc) to support your loan application.
It's always important to shop around and compare features before opting for a particular car loan, but if it's flexibility you're after and you're already a BCU Bank customer, the BCU Bank car loan may be just the type of finance you're looking for.
Sources
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Alex Finder
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