Beyond Bank Car Loans

Beyond Bank is one of the largest customer-owned banks in Australia. It has more than four billion dollars in assets under management, around 195,000 customers, and 49 branches. Before it started functioning as a bank, it was among the largest credit unions in the country. It operated as Community CPS Australia in South Australia and the ACT, as Companion Credit Union and Wagga Mutual Credit Union in New South Wales, as United Community Credit Union in Western Australia, and as Alliance One in regional northern South Australia.

This institution provides its customers a range of financial services and products, which comprise savings and transaction accounts, credit cards, home loans, personal loans, and car loans.

You can turn to Beyond Bank's Low Rate Car Loan "Special Offer" if you want to buy a new car or a car that is up to two years old. The minimum loan amount is $5,000, and you can borrow up to 100% of the car's value.

How does Beyond Bank Low Rate Car Loan "Special Offer" compare?

• Competitive interest rate. With a minimum rate from 5.89% this loan's interest rate is in the top 10% of car loans we've reviewed.
• No ongoing fees. You can save money throughout the life of the loan as there are no monthly account keeping fees which is a feature not all lenders offer.
• Green loan discount. You could receive a discounted interest rate for purchasing an eligible low-emission or electric vehicle.
• High Finder Score. This loan has a Finder Score of 8.5 which is on the higher end for car loans.

• Membership is a must. You need to be an RACV member to be eligible for this loan which is an extra step compared to many other lenders.
• Upfront costs apply. Despite having no ongoing monthly fees you will still need to pay an establishment fee to set up the loan.
• Loan amount caps. The maximum loan amount is capped at $99,999 which may not be sufficient for some more expensive green vehicles on the market.

Features of the Beyond Bank low rate car 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. You'll get a competitive rate of 6.79% p.a. (comparison rate of 7.8% 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.
• Pre-approvals. You can be approved for a loan before you've found the car you want to buy.
• Redraw. You can make additional repayments and redraw on those repayments without penalty.
• Loan terms. Take on this car loan and repay it over a period of up to 7 years.
• Car eligibility. You can borrow a minimum of $5,000. The car you're looking to finance also needs to be new or less than two years old.

Fees and charges

• Establishment fee. This loan comes with an establishment fee of $195.
• Security documentation fee. You'll need to pay a security documentation fee of $25.
• PPSR fee. You'll be charged a fee of $35.

Other car loan products offered by Beyond Bank

Low Rate Car Loan

This loan allows you to borrow between $5,000 and up to 150% of the car's value, for a new car or one that is up to six years old. Maximum loan term is 7 years.

Flexi Car Loan

You can borrow as little as $5,000 and repay this loan with a fixed interest rate over a period of up to 7 years.

Is your car eligible for a secured loan with Beyond Bank?

As Beyond Bank offers a few secured loans it's important to check your car's eligibility before you apply. Here's a quick guide to whether your car is eligible:

• New cars or cars less than two years old are eligible for the Low Rate Car Loan Special Offer
• New cars or car that are less than six years old are eligible for the Low Rate Car Loan
• New or used cars more than six years old can be eligible for the Flexi Car Loan
• You need to borrow a minimum of $5,000, or the minimum offered by the loan. For the low rate car loan only, this can be up to 150% of the value of the vehicle.

How you can apply for the Beyond Bank low rate car 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.

Eligibility

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 with no unpaid defaults or declarations of bankruptcy 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. If you're applying with another person (a joint application) it might take about 20 minutes.

Documentation

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.

Compare other products from Beyond Bank

• Beyond Bank credit cards
• Beyond Bank home loans
• Beyond Bank savings accounts
• Beyond Bank personal loans
• Beyond Bank car insurance