BCU Bank Car Loan
- Application Fee
- $200
- Interest Rate (p.a.)
- From 6.74% (variable)
- Comparison Rate (p.a.)
- 7.05%
- Max Loan Amount
- $150,000
Summary
Secure a competitive 6.74% interest rate with a BCU Bank Car Loan.BCU Bank's Car Loan offers a competitive package with an interest rate of 6.74% and a low $200 application fee. The absence of ongoing monthly fees also helps to minimise the total cost of the loan.
Its combination of features earns it a high Finder Score of 8.8. This places it in the top 19% of car loans we have analysed, making it a strong option for eligible borrowers.
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 unsecured or secured. A secured loan uses a car up to seven years old or a new motorbike as security. If the car you're buying is older than that, you'll need the unsecured option.
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 interest rate. Its interest rate of 6.74% is in the top half of lower-rate car loans in our database.
- Affordable application fee. The $200 application fee is more affordable than many of its peers.
- No ongoing fees. This loan has no ongoing monthly fees which helps keep costs down compared to other products.
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: 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.
Your reviews
Alex Finder
Publisher
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.