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Suncorp Bank Secured Car Loan

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Application Fee
$175
Interest Rate (p.a.)
7.79% (fixed)
Comparison Rate (p.a.)
8.39%
Max Loan Amount
$80,000

Summary

Get fast approval online and enjoy a competitive fixed interest rate with a Suncorp Bank Secured Car Loan.

The Suncorp Bank Secured Car Loan is a low rate fixed interest option, suitable for new or relatively new used cars. The fixed interest rate gives you the convenience of knowing what your repayments will be every month, for the entire term of the loan. It also comes with the flexibility of unlimited early repayments, which allows you to get ahead on your loan.

Pros

  • Low interest rates
  • Flexible loan terms
  • Fast and easy approval

Cons

  • Monthly fee of $5
  • Early termination fee of $300

In this guide

  • Review
  • Details
    • Product details
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Details

Product details

Product Name Suncorp Bank Secured Car Loan
Interest Rate (p.a.) 7.79%
Comp. Rate (p.a.) 8.39%
Interest Rate Type Fixed
Min Loan Amount $5,000
Max Loan Amount $80,000

Things to consider about Suncorp Secured Car Loan

The Suncorp Secured Car Loan has a competitive fixed interest rate of and low ongoing fees. It is suitable for car that is up to seven years old. Borrow from as little as and for terms between 1 to 7 years.

Features of the Suncorp Secured Car Loan

If you think that the Suncorp Secured Car Loan might be the right loan for you, here's a more detailed list of features for you to consider:

  • Fast approval online. Conditional approval is usually given the day after you apply but it can be quicker if you apply online. Make sure you have the required information ready to speed up the process.
  • Flexible repayment schedule. Make repayments at the same frequency as your pay cycle: either weekly, fortnightly or monthly.
  • Fixed rate interest. Have the security of knowing what your repayments will be for the life of your loan with the fixed rate of interest. The interest rate is a competitive regardless of the amount or term.
  • Early payout available. There are no penalties for additional or lump sum payments, which means you can pay out your loan sooner and save on costs. The is no charge for early pay out after one year from the establishment date.
  • Loan terms. Loans terms are available from 1 to 7 years.
  • New or used car. This loan is available for cars up to 7 years old.
  • Loan amount. Borrow a minimum of and a maximum of . The loan must be used to purchase a car worth at least $10,000.
  • Optional consumer credit insurance. Insure your loan so that you never have to worry about not being able to meet your repayments due to disability or death.

How much will the loan cost?

  • Establishment fee. $175 when you open the loan. This can be included in the loan amount.
  • Monthly fee. every month for the term of your loan.
  • Early payout fee. if the loan is paid out within 12 months of establishment.
  • Government charges. Loans are subject to stamp duty and a Personal Property Security Registry fee.

How to apply for the Suncorp Secured Car Loan

Applying online will get you a faster approval response. To get started click "Go to site" on the link above. To be eligible you will need to be:

  • At least 18 years old
  • Earning a net income of at least p.a.
  • An Australian resident
  • Able to meet the repayments

You will need the following information and documents when you apply:

  • Proof of identity
  • Proof of income – either pay slips or a tax assessment
  • Proof of liabilities – loan statements or credit card bills
  • Proof of non-Suncorp assets – bank statements or shareholding statements

The Suncorp Secured Car Loan is a low cost option for new or relatively new used cars. Make sure you compare other car loans to ensure that you are getting the most suitable product for your needs.

Compare car loan providers

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
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 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
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
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.)
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
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.
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