CUA Fixed Rate Car Loan

Information verified correct on December 9th, 2016

A fixed rate car loan from CUA lets you have the financial stability you need to fund the car you want.

CUA offers a Fixed Rate Car Loan with a host of competitive features for borrowers. The loan offers no monthly fees and comes with flexible repayment options to make it easy to plan your budget around this loan. In addition, CUA allows unlimited extra repayments and does not charge a penalty for an early payout.

Product NameCUA Fixed Rate Car Loan
Interest Rate (p.a.)From 6.79% (fixed)
Comparison Rate (p.a.)6.92%
Interest Rate TypeFixed
Minimum Loan Term1 year
Maximum Loan Term7 years
Min Loan Amount$15,000
Max. Loan Amount$100,000
Application Fee$0
Monthly Service Fee$0
Loan SecuritySecured

Pros

  • No account keeping fees each month
  • Flexible repayment options
  • No penalties for extra repayments

Cons

  • There is an establishment fee of $0

Car loan options from CUA

CUA offer 3 types of car loans that you can compare and apply for. These are based on the age and cost of the car.

  • For a new car that costs more than $15,000 and less than 2 years old your interest rate will be 6.79% p.a. and comparison rate of 6.92% p.a.
  • For a new car that costs less than $15,000 and is less than 2 years old, your interest rate will be 6.79% p.a. and comparison rate of 7.4% p.a.
  • For a used car that is between 2 and 7 years old your interest rate will be 7.29% p.a. and a comparison rate of 7.42% p.a.. There is no maximum loan amount.

Things to consider about the CUA Fixed Rate Car Loan

The personal car loan from CUA is a fixed rate secured loan to be used specifically for the purchase of a new car up to two years old. This is a competitive option that provides an alternative to dealership finance.

At a 6.79% p.a. interest rate and with the ability to make as many repayments as you want, you can pay the loan off as quick as your budget allows and not be subjected to any penalties. The application fee is also minimal, but for new loans approved before 6am 12 February this fee does not apply. There are also no monthly charges, making this a cost-effective choice for a car loan.

Features of the CUA Fixed Rate Car Loan

  • Interest rate. This is a fixed rate interest loan with a rate of 6.79% p.a. The comparison rate for this car loan is 6.92% p.a.
  • Loan term. This lender allows loan terms from 1 to 7 years.
  • Loan amount. With the vehicle as security, you may borrow up to $100,000 on your CUA Fixed Rate Car Loan. The minimum amount you can borrow is $15,000.
  • No application fee. CUA has waived the application fees for its personal and car loans. Just apply before 6am 12 February to take advantage of the offer.
  • Repayments. The repayment options for this loan are flexible, allowing you to choose what works best for your budget. Repay weekly, fortnightly or monthly. You also have the option of making as many additional repayments as you want at no extra charge.
  • Monthly fees. $0 ongoing monthly maintenance fees are charged on your CUA car loan.

How to apply for the CUA Fixed Rate Car Loan

If this car loan sounds right for you, click "Go to Site" to get your application started. Check first that you will meet the following eligibility requirements:

  • You must be at least 18 years of age
  • You must be an Australian citizen or permanent resident
  • You must have no defaults on your credit file over the last five years

Have the following documentation and information handy when applying:

  • Personal information. Your name and date of birth and current address will be required, as will your driver's licence number.
  • Employment. Contact information for your current employer and details of your employment will be required.
  • Income. Include your current salary plus any additional income you receive on a regular basis.
  • Assets. You will be asked to provide details of your assets. Include any property, vehicles and savings you may have.
  • Liabilities. Have a complete list of all of your current financial obligations. This will include any other loans and credit card debts you may have.

When shopping for a new car you should always be aware that there are alternate options to the financing offered by your dealer. Comparing the rates and features of other lenders first allows you to negotiate the best price for the car and get the best rates and lowest fees available. Compare the CUA Fixed Rate Car Loan with other loan products before making your final decision.

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6 Responses to CUA Fixed Rate Car Loan

  1. Default Gravatar
    mercia | November 23, 2016

    Does CUA offer balloon payments ?

    • Staff
      Anndy | November 23, 2016

      Hi Mercia,

      Thanks for your question.

      Balloon payment option is not listed among the features of CUA Fixed Rate Car Loan. You can confirm this by directly calling CUA.

      CUA Fixed Rate Car Loan does have a flexible repayment option allowing you to repay weekly, fortnightly or monthly. You can also have the option to make as many additional repayments as you want at no extra charge.

      Cheers,
      Anndy

  2. Default Gravatar
    P | August 26, 2015

    Do you finance used cars purchased from a private seller (ie. not a dealer)?

    • Staff
      Elizabeth | August 26, 2015

      Hi P,

      Thanks for your question.

      Just to clarify that you’ve come through to finder.com.au, a financial comparison service and not CUA. I can confirm, however, that if your car meets the requirements specified, you can buy it from a private seller and not a dealer.

      I hope this has helped.

      Thanks,

      Elizabeth

  3. Default Gravatar
    Liz | June 12, 2015

    Hi, I am a pensioner, aged 66, with a solid saving habit and proof therof….am about to head overseas for three months using only my savings of twelve months and my full pension. When I get home I am hoping to buy a small caravan to keep in my daughter’s backyard as a private little bolthole for when I visit my large family in Brisbane. The caravans I am looking at are called AVans. I have my eye on one for $15K but most of them are up to $25k. I have a credit card with a limit of 5K but I pay it off completely each month. I currently have $6,479 in my Ubank account. Of this, 5k is for my trip and the rest is for bills from home whilst overseas. I own my own home outright which is worth about $150k. Could you let my know my chances please? O yes, I also, on top of the pension O $864 pfn, I receive $100 per fortnight as spousal maintenance. Which makes my income $964pfn. Hoping to hear from you. Liz

    • Staff
      Elizabeth | June 15, 2015

      Hi Liz,

      Thanks for your question.

      Unfortunately, to be eligible for a personal loan with CUA you’ll need to be currently employed. You can compare your other caravan loan options on this page, and specifically find options for pensioners available on this page. Take a look at the review pages for the individual eligibility criteria before applying.

      I hope this has helped.

      Thanks,

      Elizabeth

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