Enjoy a competitive car loan from a lender which aims to benefit its members.
Gateway Credit Union offers financing solutions that include home loans, car loans, personal loans and funeral loans and others. It also provides various insurance policies including general insurance and life cover. Gateway was started in 1955, and it has grown to be a leading credit union with a membership of more than 40,000.
If you're looking to finance a new or used car purchase you can consider a car loan from Gateway CU – find out about its offerings on the page below.
Gateway CU car loans comparison
- Car Loan – New Car. If you're in the market for a new car or one up to 12 months old you can take advantage of a competitive variable rate of 5.69% p.a.. Borrow between $3,000 and $50,000 and have up to 7 years to repay it.
- Car Loan – Up to 5 years old. Used cars up to five years old can also be used as security and you'll receive a competitive rate of 7.94% p.a.. You can borrow a minimum of $3,000 with this loan and enjoy flexible repayment options, including the ability to make unlimited additional repayments. Loan terms are available up to 7 years.
Is your car eligible to be used as security?
- Car is brand new or up to 12 months old: It is eligible for a car loan with terms up to 7 years and a rate of
- Car is older than 12 months and less than five years old: It is eligible for a car loan with terms up to 7 years and a variable rate of 7.94% p.a.
- Car is older than five years: It is eligible for a car loan with terms up to 9.74% p.a. and terms up to 7 years.
How you can apply with Gateway CU
If you're interested in applying for a car loan with Gateway you can get your application started online. First, make sure you meet all the criteria outlined below:
- Over the age of 18
- An Australian citizen or permanent Australian resident
- Currently employed
- Receive a regular income
- Have not declared bankruptcy or insolvency or had defaults on credit accounts in the last five years
If you said "yes" to each of these you can start you application. You'll need all the following details on hand:
- Income and employment. Gross and net salary information, employment details and any other income you receive.
- Assets. The approximate values of your properties, vehicle savings and super.
- Liabilities. Your current loan balances, repayment amounts and credit card and overdraft limits.
Gateway CU offers a competitive option to help you finance your car, but as there are a range of options available, make sure you compare what's available so you get the right loan for you.