First Choice Credit Union Car loan Review - Rates, fees | Finder.com.au

First Choice Credit Union Car loan

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Put yourself in the driver's seat and choose how often you make your repayments with payroll deductions available and no early payment penalties.

First Choice Credit Union has a special offer competitive rate car loan with no monthly fees and flexible repayments, available for new and used cars. It allows you to pay back your loan in a way that suits you.

$100

Application Fee

From 4.8% (variable)

Interest Rate (p.a.)

4.99%

Comparison Rate (p.a.)

$20,000

Max Loan Amount

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Details

Product NameFirst Choice CU New Car Loan
Interest Rate (p.a.)From 4.8% (variable)
Comparison Rate (p.a.)4.99%
Interest Rate TypeVariable
Max Loan Amount$20,000

Main points to consider with the First Choice Credit Union Car Loan

This limited time only car loan is available to members and non-members of First Choice Credit Union and can be used for purchase on both new and used cars over .

This loan has an application fee of $100. Full purchase price is available to borrow with no down payment required on the vehicle.

Features of the First Choice Credit Union Car Loan

  • Competitive rate. This loan offers a limited time only variable rate of 4.8% p.a., at a competitive comparison rate of 4.99% p.a.
  • Fees. A loan application fee of $100 and a credit check fee of $14 applies to this loan, though there are no monthly or annual fees and no early payment penalties.
  • Flexible repayments. Choose from monthly, fortnightly or weekly repayments that fit around your lifestyle.
  • Full purchase price loan available. This loan offers a full purchase price on vehicles of a minimum of . This applies to both new and used vehicles.
  • Discounted rates. If trading-in an existing car with a 20% upwards value of your new car, First Choice Credit Union Car Loan offers potential discounted rates.
  • Pre-approval. If you haven't yet selected your car, this loan offers pre-approval subject to your personal circumstances and credit rating. Funds will be available for up to three months for car purchase.
  • Redraw. You can make additional repayments on this loan penalty-free and redraw those repayments for a minimal fee.
  • Direct payroll deductions available. You can potentially make your repayments easier by opting to deduct from your payroll automatically, so you never miss a payment.
  • No need to be a pre-existing member of the credit union. Membership is only required after loan approval.

Fees and charges

  • Application fee. An application fee of $100 applies to this loan. This is payable at the time of funding.
  • Credit check fee. Expect a credit check fee of around $14. This is payable at the time of funding.
  • Redraw fee. If choosing to use the redraw facility on this loan, a $25 fee will be incurred. This fee is payable at time of redraw.
  • No monthly fees
  • No annual fees
  • No early repayment fees
  • No account-keeping fees

How to apply for the First Choice Credit Union Car Loan

Want to apply to the First Choice Credit Union Car Loan? You can apply directly with First Choice by clicking on the "Go to site" button. First, make sure you meet the eligibility criteria outlined below:

  • You must be over 18 years of age
  • You must have a good to excellent credit rating and no defaults are permitted for applicants
  • You must be an Australian citizen or permanent resident

You also need the following documents in order to submit your application:

  • Employment and income details – you can still apply if you are self-employed
  • Your financial details, including your assets and liabilities
  • Your driver's licence number
  • Proof of address
  • Your rental statement, if you're not a home owner

While First Choice Credit Union offers a competitive rate, it is always a good idea to compare loans before submitting an application. Luckily, when it comes to car loans, we never tire of comparisons.

Compare car loan providers

Data updated regularly
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
Loans.com.au - New and Dealer Used Car Loan
From 4.67% (fixed)
5.22%
$5,000
3 to 5 years
$400
$0
You'll receive a fixed rate from 4.67% p.a. based on your risk profile
Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment. Settle the loan before 30 November 2021 and enter the draw to win a $1,000 fuel gift voucher. T&Cs apply.
Plenti Car Loan
From 4.89% (fixed)
5.44%
$2,000
3 to 7 years
from $249 to $799
$0
You'll receive a fixed rate from 4.89% p.a.
Borrow up to $100,000 with a Plenti Car Loan and benefit from no early repayment or exit fees.
IMB New Car Loan
4.99% (fixed)
5.34%
$2,000
1 to 7 years
$275.12 ($250 Application fee + $25.12 PPS registration fee)
$0
You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one that's up to two years old.
NRMA New Car Loan
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.
Credit Concierge Car Loan
From 3.85% (fixed)
4.91%
$10,000
1 to 7 years
$350
$8.50
You'll receive a fixed rate of 3.85% p.a. with a comparison rate of 4.91% p.a.
Get access to over 20 providers to fund a new or used car.

Wisr Secured Car Loan
From 4.74% (fixed)
5.01%
$5,000
3 to 7 years
$195 (Includes PPSR registration fee)
$0
You'll receive a personalised interest rate from 4.74% p.a. to 16.01% p.a. based on your risk profile
A flexible car loan from $5,000 - $63,000 with personalised rates and rewards for strong credit customers.

NAB Personal Loan Unsecured Fixed
From 6.99% (fixed)
7.91%
$5,000
1 to 7 years
$150
$10
You'll receive a fixed rate between 6.99% p.a. and 18.99% p.a. ( 7.91% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% (13.56% comparison rate) or less. See Comparison rate warning in (i) above.
OurMoneyMarket Car Loan
From 5.35% (fixed)
5.65%
$2,001
1 to 7 years
$250
$0
You'll receive a fixed interest rate from 5.35% p.a. to 14.99% p.a. based on your risk profile.
Borrow between $2,001 and $75,000 to finance a new or used car up to 10 years.
MoneyForJam Car Loan
From 3.25% (fixed)
5.82%
$5,000
1 to 7 years
From $1 to $990
$25
You'll receive a fixed rate from 3.25% p.a. based on your risk profile
Borrow between $5,000 and $120,000 with loan terms up to 7 years to finance a new or used car. Get access to more than 40 providers.
CUA Secured Fixed Car Loan
6.79% (fixed)
7.16%
$5,000
1 to 7 years
$265 ($175 Establishment Fee + $90 Security Administration Fee)
$0
You'll receive a fixed rate of 6.79% p.a.
A secured loan with a high maximum borrowing amount up to $100,000. Redraw facility and no monthly fees.
Latitude Personal Loan (Secured)
From 5.99% (fixed)
7.26%
$3,000
1 to 7 years
Loans under $5000 - $140
$13
You'll receive a fixed rate between 5.99% p.a. and 21.99% p.a. based on your risk profile
Lock in a competitive fixed rate when you offer security. Loan can be used for any purpose and repayments are flexible. You can check your interest rate before applying with no impact to your credit score.
Stratton Finance New Car Loan
From 4.05% (fixed)
5.63%
$10,000
3 to 7 years
$700
$8.25
You'll receive a fixed rate from 4.05% p.a. depending on the lender you are approved with
Apply for up to $250,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
SocietyOne Car Loan
From 6.99% (fixed)
6.99%
$5,000
2 to 5 years
from 0% to 5% of the total loan amount
$0
You'll receive a fixed rate between 6.99% p.a. and 20.49% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
RACV New Car Loans
From 4.99% (fixed)
5.69%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 4.99% 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.
NRMA Used Car Loan
From 6.49% (fixed)
7.19%
$5,000
1 to 7 years
$499
$0
You'll receive a fixed rate from 6.49% 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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Compare up to 4 providers

Car Loan Offers

Important Information*
Logo for IMB New Car Loan
IMB New Car Loan

You'll receive a fixed rate of 4.99% p.a.
A low minimum borrowing amount of $2,000 that you can use to purchase a new car or one up to two years old.

Logo for Beyond Bank Low Rate Car Loan "Special Offer"
Beyond Bank Low Rate Car Loan "Special Offer"

You'll receive a fixed rate of 4.69% p.a.
Take advantage of a competitive rate, pre-approval and no early repayment fees when you finance a car under two years old.

Logo for RACV New Car Loans
RACV New Car Loans

You'll receive a fixed rate from 4.99% 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.

Logo for NRMA New Car Loan
NRMA New Car Loan

You'll receive a fixed rate of 4.99% p.a.
Purchase a new or used car up to 2 years old and benefit from a fixed rate and no monthly fees. Pre-approval available within 5 business hours.

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