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 Name||CUA Secured Fixed Car Loan|
|Interest Rate (p.a.)||6.79% (fixed)|
|Comparison Rate (p.a.)||6.92%|
|Interest Rate Type||Fixed|
|Min Loan Amount||$5,000|
|Max. Loan Amount||$100,000|
- Competitive interest rate
- Large maximum loan amount
- Fee-free additional repayments
- Redraw facility available
- $200 minimum for in-branch redraws
- $90 administration fee for secured loans
Main points 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 or used vehicle up to 7 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 CUA car loan off as quick as your budget allows and not be subjected to any penalties. The establishment fee is also minimal, but for new loans approved, this fee does not apply for the limited time. 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 car 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 $5,000.
- No application fee. CUA has waived the $120 application fee for its personal and car loans. It may withdraw this offer at any time. However, a $90 administration fee applies to secured loans.
- 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.
- Redraw. Take advantage of CUA's redraw facility for any additional repayments you make. Keep in mind there is a $200 minimum withdrawal amount if you redraw in-branch.
- 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 the CUA 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.