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Sydney Mutual Bank New Car Loan Rate

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Sydney Mutual Bank Variable New Car Loan

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Application Fee
$150
Interest Rate (p.a.)
From 6.45% (variable)
Comparison Rate (p.a.)
6.66%
Max Loan Amount
$80,000

Summary

Get behind the wheel of a new car with fewer fees and a competitive rate with Sydney Mutual Bank

If you're looking for a way to finance a new vehicle purchase, you might want to consider this fixed rate option from Sydney Mutual Bank. You'll keep your ongoing costs down with no account-keeping fees and a competitive fixed rate, plus you can finance a new car purchase up to $80,000. Sydney Mutual Bank is a credit union that directs all profits back into making their products and services better and more affordable, and this includes their New Car Loan (Fixed). Find out more of the benefits and submit your application below.

Pros

  • No application fee
  • Ability to borrow up to 100% of the value
  • Extra repayments with no penalty

Cons

  • $20 per redraw

In this guide

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  • Details
    • Product details
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Details

Product details

Product Name Sydney Mutual Bank Variable New Car Loan
Interest Rate (p.a.) 6.45%
Comp. Rate (p.a.) 6.66%
Interest Rate Type Variable
Min Loan Amount $10,000
Max Loan Amount $80,000

Things to know about the New Car Loan

This loan is designed for the financing of new vehicles – as is implied by the name – but you can finance new vehicles up to two years old. You won't pay anything to apply for this loan and you're able to finance 100% of the purchase price of the vehicle, which can be a maximum of $80,000. You'll have up to 7 years to repay your loan and be repaying it at a competitive rate of 6.45% p.a.. There's also a redraw facility available, giving you the flexibility you need with your additional repayments.

What features and benefits are on offer?

  • How much you can borrow. You're able to finance 100% of the vehicle's cost, which can be between $10,000 and $80,000.
  • What kind of car you can borrow. The vehicle needs to be new or near new, as cars over two years old are ineligible for this loan.
  • Competitive rate. A rate of 6.45% p.a. will apply to your loan.
  • Flexibility with your car search. You can secure the loan before you find your car, and this way you'll have the confidence to negotiate knowing how much you have to spend. You can also take advantage of Sydney Mutual Bank's complimentary car search service.
  • Car insurance available. You have the option to take on insurance through their partner, Allianz. This way all your car payments are kept in one place. Comprehensive, third-party, and CTP insurance are available.
  • Loan term and repayments. You'll have a loan period up to 7 years, giving you plenty of time to repay what you owe. Weekly, fortnightly and monthly repayments are available.
  • Early repayment available. If you're able to, you can repay your loan early without worrying about penalty.
  • Redraw facility. A convenient redraw facility is available with this loan. You have to redraw a minimum of $20 per redraw.

The costs that come with the New Car Loan

This is a low-cost loan, but it still helps to see a breakdown for the fees and charges that apply. Here's what you need to know:

  • $150 application fee
  • $0 monthly fees
  • 6.45% p.a. Variable interest rate

How you can apply

If you're ready to apply for this loan, just click 'Go to Site' to get your application started. You can also apply by calling Sydney Mutual Bank directly. Make sure you meet the following eligibility criteria before doing so:

  • You are over the age of 18
  • You have sufficient income to repay the loan
  • You have good credit history
  • You are an Australian resident
  • You're looking to finance a new car up to two years old
  • The car you're buying is between $10,000 and $80,000

You'll also need some details on hand to fill out your application:

  • Personal details like your name, address and residential status
  • Employment details such as your employer's name, phone number and the status of your employment
  • Details of your income, assets and liabilities.

Remember to always compare car loan options thoroughly before submitting an application in order to find the best possible financial solution for your circumstances.

Compare car loan providers

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1 - 13 of 108
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Stratton Finance New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with.
Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
Simplify New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
Credit Concierge New Car Loan
Fixed1 - 7 Years $10,000 - $100,000
Interest Rate (p.a.)
6.29%
to 16.45%
Comp. Rate (p.a.)
7.41%
to 17.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$637.97
Go to siteMore Info
NRMA New Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.79% p.a. and comparison rates from 6.49% p.a.)
RACV New Car Loans
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
7.29%
to 16.99%
Comp. Rate (p.a.)
8%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$635.67
Go to siteMore Info
You'll receive a fixed rate from 7.29% p.a.
A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
Credit Concierge Used Car Loan
Fixed1 - 7 Years $10,000 - $1,000,000
Interest Rate (p.a.)
6.8%
to 17.45%
Comp. Rate (p.a.)
7.56%
to 18.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$642.74
Go to siteMore Info
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
OurMoneyMarket Used Car Loan - No Vehicle Age Limit
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
7.19%
to 21.78%
Application Fee
$250
min.
Monthly Fee
$0
Monthly Repayment
$622.82
Go to siteMore Info
Stratton Finance Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.52%
to 18%
Comp. Rate (p.a.)
6.95%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$625.27
Go to siteMore Info
You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a.
A used car loan of up to $300,000 with quick approval times and balloon payment options.
Simplify Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
NRMA Used Car Loan
Fixed1 - 7 Years $5,000 - $130,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
RACV Used Car Loans
Fixed1 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
8.49%
to 16.99%
Comp. Rate (p.a.)
9.21%
to 17.77%
Application Fee
$499
Monthly Fee
$0
Monthly Repayment
$647.01
Go to siteMore Info
You'll receive a fixed rate from 8.49% p.a.
Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
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