Community First New Car Loan – Variable Rate

Information verified correct on October 21st, 2016

The Community First New Car Loan helps you get behind the wheel of a new car for a competitive variable rate.

Buying a new car can be an expensive process, so when it comes to financing your new purchase you want to secure an affordable option. The Community First New Car Loan offers a competitive rate and low monthly fee to help keep your repayments manageable. If you’re buying a new car over $10,000, this may be an option to consider. Find out more about the loan below.

Product NameCommunity First Credit Union New Car Loan - Variable
Interest Rate (p.a.)From 5.34% (variable)
Comparison Rate (p.a.)6.1%
Interest Rate TypeVariable
Minimum Loan Term1 year
Maximum Loan Term5 years
Min Loan Amount$10,000
Max. Loan Amount$60,000
Application Fee$295 ($195 approval fee + $100 Personal property security fee)
Monthly Service Fee$5
Loan SecuritySecured

Things to consider about the Community First New Car Loan

This loan comes with a competitive variable rate of 5.34% p.a. and an ongoing monthly fee of $5. It can only be used to finance new car purchases, and loan amounts are available from $10,000. Loan terms can extend up to 5 year(s).

Features on offer with this loan

If you're looking for a convenient way to finance your car, consider the following features Community First offers with this loan:

  • A range of loan amounts of offer. Apply for any amount between $10,000 and $60,000.
  • Choice of loan term. You can choose loan terms to suit your needs and budget. Loan terms between 1 year(s)] and 5 year(s)] are available.
  • Eligible vehicles. Any new car is eligible as long as you're looking to borrow above $10,000.
  • Competitive rate. You'll enjoy a variable rate, currently 5.34% p.a., with this loan.
  • Low ongoing fees. This loan comes with a monthly fee of $5. Keep in mind an establishment fee of $295 also applies.

How you can apply for the Community First's New Car Loan

If this sounds like the right loan for you, you can get your application started by clicking "Go to Site". Make sure you meet the following criteria before you start your application.

You must:

  • Be over the age of 18
  • Have a regular income
  • Be an Australian citizen, permanent resident or be on an approved working visa
  • Have not had any defaults in the last five years
  • Have been in your current job longer than three months

Keep the following information on hand so you can complete your application:

  • Personal details such as your name, current and previous address, phone number and email address
  • Details of your income, employment, assets and debts

After you submit your application, a representative from Community First will contact you within 24 to 48 hours to discuss the next steps.

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